In the last trading session, 11,996,061 shares of the The Macerich Company(NYSE:MAC) were traded, and its beta was 1.99. Most recently the company’s share price was $13.36, and it changed around $0.84 or 0.07% from the last close, which brings the market valuation of the company to $2Billion. MAC currently trades at a discount to its 52-week high of $25.99, offering almost -94.54% off that amount. The share price’s 52-week low was $4.81, which indicates that the current value has risen by an impressive 64% since then. We note from The Macerich Company’s average daily trading volume that its 10-day average is 5.28 Million shares, with the 3-month average coming to 8.37 Million.
The Macerich Company stock received a consensus recommendation rating of Underweight, based on a mean score of 3.4. If we narrow it down even further, the data shows that 8 out of 17 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 5 recommended MAC as a Hold, whereas 3 deemed it a Buy, and 1 rated it as Underweight. The Macerich Company is expected to report earnings per share of -$0.26 for the current quarter.
The Macerich Company (NYSE:MAC): Trading Information
Instantly MAC has showed a green trend with a performance of 6.71% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $13.72 on Monday, Feb 22 increased the stock’s daily price by 2.59%. The company’s shares are currently up 0.25% year-to-date, but still up 0.0357 over the last five days. On the other hand, The Macerich Company (NYSE:MAC) is -0.06% down in the 30-day period. We can see from the shorts that 34.31 Million shares have been sold at a short interest cover period of 4.1 day(s).
The consensus price target as assigned by Wall Street analysts is $15, which translates to bears needing to increase their stock price by 12.28% from its current value. Analyst projections state that MAC is forecast to be at a low of $8.5 and a high of $57. In order for the stock price to hit the forecast high, the stock would need to surge +326.65% from its current level, while the stock would need to crash -36.38% from its current level to reach the projected low.
The Macerich Company (MAC) projections and forecasts
The Macerich Company share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +73.96 percent over the past six months and at a 1.39% annual growth rate that is well above the industry average of -6.6%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -620% in revenue this quarter, and will report a decline of -38.9% in the next quarter. The year-over-year growth rate is expected to be -6.2%, down from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $179.62 Million in revenue for the current quarter. 5 analysts expect The Macerich Company to make $178.53 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $210.72 Million and $168.75 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -14.8%. Forecasts for the next quarter put sales growth at 5.8%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -42.1%. The Macerich Company earnings are expected to increase by 62.1% in 2021, but the outlook is positive 0.21% per year for the next five years.
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MAC Dividend Yield
The Macerich Company’s next quarterly earnings report is expected to be released around May 10 – May 14, 2021. The annual dividend yield of the stock is 4.79 percent and its annual dividend per share was $0.6. It is important to note, however, that the 4.79% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 9.54% per year.
The Macerich Company (NYSE:MAC)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 7.62% of The Macerich Company shares, and 93.64% of them are in the hands of institutional investors. The stock currently has a share float of 101.36%. The Macerich Company stock is held by 389 institutions, with Ontario Teachers’ Pension Plan Board being the largest institutional investor. By Sep 29, 2020, it held 16.43% of the shares, which is about 24.56 Million shares worth $166.78 Million.
Blackrock Inc., with 14.06% or 21.01 Million shares worth $224.19 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.