LONDON, UK / ACCESSWIRE / February 16, 2018 / Active-Investors has a free review on Macerich Co. (NYSE: MAC) following the Company's announcement that it will begin trading ex-dividend on February 20, 2018. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend and holidays) that is by latest at the end of the trading session on February 16, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on MAC:
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Dividend Declared
On January 26, 2018, Macerich's Board of Directors declared a quarterly cash dividend of $0.74 per share of common stock. The dividend is payable on March 02, 2018, to stockholders of record at the close of business on February 21, 2018.
Macerich's indicated dividend represents a yield of 4.87%s compared to the average dividend yield of 5.22% for the Financial sector. The Company has raised dividend for seven consecutive years.
Dividend Insights
Macerich has a dividend payout ratio of 74.6%, which means that the Company distributes approximately $0.75 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Macerich is forecasted to report earnings of $0.87 per share for the next year compared to the Company's annualized dividend of $2.96 per share. One of the primary reasons for the difference between earnings and annualized dividend is that Macerich is a Real Estate Investment Trust (REIT) which is structured by law to distribute at least 90% of earnings. Moreover, since REITs generate income from owning portfolios of investment real estate, they are likely to have higher depreciation charges.
Since depreciation is a non-cash charge, it does not directly impact the ability of dividend the companies can distribute. For this reason, Fund from Operations (FFO) is calculated by adding depreciation and amortization to earnings and subtracting any gains on sales which then provides a better picture of any company's profitability and capacity to pay and to sustain dividends. For instance, Macerich announced net income attributable to the Company of $32.8 million, or $0.23 per share-diluted, for the quarter ended December 31, 2017, compared to net income attributable to the Company for the quarter ended December 31, 2016 of $37.1 million, or $0.26 per share-diluted.
On the other hand, Macerich's Q4 2017, FFO was $155.6 million, or $1.03 per diluted share, compared to $180.6 million, or $1.17 per diluted share, for Q4 2016. The Company's FFO number indicates that Macerich should be able to comfortably cover its dividend payout.
About Macerich Co.
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered REIT, which focuses on the acquisition, leasing, management, development, and redevelopment of regional malls throughout the United States. Macerich currently owns 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers. Macerich specializes in successful retail properties in many of the US most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago, and the Metro New York to Washington, DC corridor. A recognized leader in sustainability, Macerich has earned NAREIT's prestigious "Leader in the Light" award every year from 2014-2017.
Stock Performance Snapshot
February 15, 2018 - At Thursday's closing bell, Macerich's stock slightly dropped 0.75%, ending the trading session at $61.10.
Volume traded for the day: 1.80 million shares.
Stock performance in the previous six-month period – up 11.42%
After yesterday's close, Macerich's market cap was at $8.63 billion.
Price to Earnings (P/E) ratio was at 59.78.
The stock has a dividend yield of 4.84%.
The stock is part of the Financial sector, categorized under the REIT - Retail industry. This sector was up 0.8% at the end of the session.
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