Macerich (MAC) Projected to Post Earnings on Thursday

Macerich (NYSE:MAC) is projected to issue its quarterly earnings data before the market opens on Thursday, February 27th. Analysts expect the company to announce earnings of $0.47 per share and revenue of $216.62 million for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Macerich Price Performance

Macerich stock opened at $19.76 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $4.91 billion, a PE ratio of 50.66, a P/E/G ratio of 0.71 and a beta of 2.50. Macerich has a 12 month low of $12.99 and a 12 month high of $22.27. The stock has a 50-day moving average price of $20.24 and a two-hundred day moving average price of $18.86.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a $0.17 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 3.44%. Macerich’s dividend payout ratio is presently 174.36%.

Insider Buying and Selling

In related news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the sale, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MAC has been the subject of several research reports. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and increased their target price for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and increased their target price for the company from $14.00 to $22.00 in a research report on Wednesday, December 4th. Compass Point raised their price objective on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Piper Sandler raised their price objective on Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Macerich presently has an average rating of “Hold” and a consensus price target of $19.30.

Macerich Company Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.