The Macerich Company (NYSE:MAC) has a beta value of 1.79 and has seen 5,299,183 shares traded in the last trading session. The company, currently valued at $1.24 Billion, closed the last trade at $8.78 per share which meant it gained $0.7 on the day or 9.07% during that session. The MAC stock price is -288.95% off its 52-week high price of $34.15 and 45.22% above the 52-week low of $4.81. If we look at the company’s 10-day average daily trading volume, we find that it stood at 9.1 Million shares traded. The 3-month trading volume is 8.87 Million shares.
The consensus among analysts is that The Macerich Company (MAC) is a Hold stock at the moment, with a recommendation rating of 3.3. 5 analysts rate the stock as a Sell, while none rate it as Overweight. 10 out of 18 have rated it as a Hold, with 2 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.14.
The Macerich Company (NYSE:MAC) trade information
Sporting 9.07% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Jun 23 when the MAC stock price touched $9.39-6 or saw a rise of 6.46%. Year-to-date, The Macerich Company shares have moved -65.43%, while the 5-day performance has seen it change -1.35%. Over the past 30 days, the shares of The Macerich Company (NYSE:MAC) have changed 28.93%. Short interest in the company has seen 60.44 Million shares shorted with days to cover at 6.81.
Wall Street analysts have a consensus price target for the stock at $11.59, which means that the shares’ value could jump 32% from current levels. The projected low price target is $4 while the price target rests at a high of $57. In that case, then, we find that the current price level is +549.2% off the targeted high while a plunge would see the stock lose -54.44% from current levels.
The Macerich Company (MAC) estimates and forecasts
Figures show that The Macerich Company shares have underperformed across the wider relevant industry. The company’s shares have lost -65.03% over the past 6 months, with this year growth rate of -17.8%, compared to -12.4% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -240% and -122.6% for the next quarter. Revenue growth from the last financial year stood is estimated to be -7.6%.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -42.1% over the past 5 years. Earnings growth for 2020 is a modest +62.1% while over the next 5 years, the company’s earnings are expected to increase by 0.21%.
The Macerich Company is expected to release its next earnings report between July 30 and August 03 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.4 at a share yield of 4.97%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 7.32%.
The Macerich Company (NYSE:MAC)’s Major holders
Insiders own 0.58% of the company shares, while shares held by institutions stand at 117.1% with a share float percentage of 117.78%. Investors are also buoyed by the number of investors in a company, with The Macerich Company having a total of 450 institutions that hold shares in the company. The top two institutional holders are Ontario Teachers’ Pension Plan Board with over 23.29 Million shares worth more than $131.1 Million. As of March 30, 2020, Ontario Teachers’ Pension Plan Board held 16.46% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 19.38 Million shares as of March 30, 2020. The firm’s total holdings are worth over $109.09 Million and represent 13.7% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Specialized-Real Estate Index Fund and Vanguard Total Stock Market Index Fund. As of January 30, 2020, the former fund manager holds about 3.93% shares in the company for having 5558057 shares of worth $124Million while later fund manager owns 4.14 Million shares of worth $23.29 Million as of March 30, 2020, which makes it owner of about 2.92% of company’s outstanding stock.