Macerich (MAC) Expected to Announce Quarterly Earnings on Thursday

Macerich (NYSE:MAC - Get Free Report) is anticipated to post its quarterly earnings results before the market opens on Thursday, February 27th. Analysts expect Macerich to post earnings of $0.47 per share and revenue of $216.62 million for the quarter. Individual that wish to register for the company's earnings conference call can do so using this link.

Macerich Trading Down 2.6 %

Shares of MAC stock traded down $0.53 during mid-day trading on Friday, hitting $19.83. The company's stock had a trading volume of 381,417 shares, compared to its average volume of 1,522,597. Macerich has a 52 week low of $12.99 and a 52 week high of $22.27. The company has a market cap of $4.93 billion, a PE ratio of 50.85, a P/E/G ratio of 0.72 and a beta of 2.50. The company's fifty day simple moving average is $20.34 and its 200-day simple moving average is $18.70. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Tuesday, March 4th. Macerich's payout ratio is 174.36%.

Insider Transactions at Macerich

In related news, Director Andrea M. Stephen sold 63,289 shares of the company'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 value of $1,303,120.51. Following the transaction, the director now owns 83,479 shares in the company, valued at approximately $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

MAC has been the subject of a number of research analyst reports. Jefferies Financial Group raised Macerich from a "hold" rating to a "buy" rating and boosted 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 lifted their price target for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a research note on Tuesday, December 17th. They set a "hold" rating and a $22.00 price target for the company. Compass Point lifted their price target on Macerich from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Piper Sandler lifted their price target on Macerich from $14.00 to $17.00 and gave the company an "underweight" rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Macerich currently has a consensus rating of "Hold" and a consensus target price of $19.30.

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.