During the recent session, The Macerich Company (NYSE:MAC)’s traded shares were 0.83 million, with the beta value of the company hitting 1.94. At the last check today, the stock’s price was $12.55, reflecting an intraday gain of 0.24% or $0.03. The 52-week high for the MAC share is $22.88, that puts it down -82.31 from that peak though still a striking 6.29% gain since the share price plummeted to a 52-week low of $11.76. The company’s market capitalization is $2.63B, and the average intraday trading volume over the past 10 days was 5.01 million shares, and the average trade volume was 3.12 million shares over the past three months.
The Macerich Company (MAC) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 3.20. MAC has a Sell rating from 6 analyst(s) out of 17 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.04.
The Macerich Company (NYSE:MAC) trade information
The Macerich Company (MAC) registered a 0.24% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 0.24% in intraday trading to $12.55 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -5.37%, and it has moved by -10.25% in 30 days. Based on these gigs, the overall price performance for the year is -6.85%. The short interest in The Macerich Company (NYSE:MAC) is 26.74 million shares and it means that shorts have 9.4 day(s) to cover.
The consensus price target of analysts on Wall Street is $16.77, which implies an increase of 25.16% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $11.25 and $27.00 respectively. As a result, MAC is trading at a discount of -115.14% off the target high and 10.36% off the low.
The Macerich Company (MAC) estimates and forecasts
Statistics show that The Macerich Company has underperformed its competitors in share price, compared to the industry in which it operates. The Macerich Company (MAC) shares have gone down -39.34% during the last six months, with a year-to-date growth rate less than the industry average at -3.45% against 6.50. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 77.80% this quarter and then jump 80.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -1.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $210.5 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $206.53 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $194.64 million and $190.42 million respectively. In this case, analysts expect current quarter sales to grow by 8.10% and then jump by 8.50% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -54.10%. While earnings are projected to return 104.30% in 2022, the next five years will return 0.21% per annum.
The Macerich Company is due to release its next quarterly earnings between February 09 and February 14. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for The Macerich Company is 0.60, with the dividend yield indicating at 4.79 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 9.57%.
The Macerich Company (NYSE:MAC)’s Major holders
The Macerich Company insiders own 4.00% of total outstanding shares while institutional holders control 89.13%, with the float percentage being 92.84%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 427 institutions own stock in it. As of Dec 30, 2021, the company held over 30.84 million shares (or 14.48% of all shares), a total value of $532.91 million in shares.
The next largest institutional holding, with 30.64 million shares, is of Blackrock Inc.’s that is approximately 14.38% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $529.5 million.
Also, the Mutual Funds coming in first place with the largest holdings of The Macerich Company (MAC) shares are Vanguard Specialized-Real Estate Index Fund and Smead Funds Trust-Smead Value Fund. Data provided on Oct 30, 2021 indicates that Vanguard Specialized-Real Estate Index Fund owns about 9.72 million shares. This amounts to just over 4.56 percent of the company’s overall shares, with a $175.85 million market value. The same data shows that the other fund manager holds slightly less at 8.19 million, or about 3.85% of the stock, which is worth about $154.51 million.