Macerich (MAC) to Release Earnings on Wednesday

Macerich (NYSE:MAC) will release its earnings data before the market opens on Wednesday, November 6th. Analysts expect Macerich to post earnings of $0.40 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Macerich Stock Up 1.9 %

Shares of NYSE MAC opened at $18.67 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.76. Macerich has a 12-month low of $9.90 and a 12-month high of $19.09. The firm’s 50-day moving average price is $17.30 and its 200-day moving average price is $15.93. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of -56.79, a P/E/G ratio of 0.63 and a beta of 2.49.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a yield of 3.64%. Macerich’s dividend payout ratio (DPR) is presently -206.05%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MAC. Evercore ISI increased their price target on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Bank of America boosted their price objective on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. The Goldman Sachs Group raised their target price on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a report on Thursday, September 19th. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Piper Sandler increased their price objective on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Macerich currently has an average rating of “Hold” and an average target price of $15.84.

About Macerich

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.