JP Morgan slashes price target on The Macerich Company [MAC] – find out why.

The Macerich Company [NYSE: MAC] jumped around 0.03 points on Monday, while shares priced at $10.54 at the close of the session, up 0.29%. The company report on December 16, 2020 that Hudson Pacific Properties and Macerich to Fund Major Grant for Local Artists Impacted by COVID-19.

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More than $650,000 to be swiftly dispersed to artists across Los Angeles.

Hudson Pacific Properties, Inc. (“Hudson Pacific”) (NYSE: HPP), a Los Angeles-based real estate investment company focused on West Coast epicenters of media and tech, and Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of one-of-a-kind retail properties in top markets, announced that they will fast-track more than $650,000 to artists in Los Angeles impacted by COVID-19 through the Vibrant Cities Arts Grant. The funds are associated with the One Westside project, a joint venture between Hudson Pacific and Macerich, which is converting the former Westside Pavilion mall into Google’s newest Los Angeles campus. Consistent with the joint venture structure, Hudson Pacific will fund the majority of the Vibrant Cities Arts Grant.

The Macerich Company stock is now -58.68% down from its year-to-date (YTD) trading value. MAC Stock saw the intraday high of $10.73 and lowest of $9.91 per share. The company’s 52-week high price is 26.20, which means current price is +132.27% above from all time high which was touched on 01/02/20.

Compared to the average trading volume of 5.69M shares, MAC reached a trading volume of 5290235 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about The Macerich Company [MAC]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MAC shares is $12.34 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MAC stock is a recommendation set at 3.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for The Macerich Company shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on December 21, 2020. While these analysts kept the previous recommendation, Citigroup raised their target price from $8 to $9.50. The new note on the price target was released on December 15, 2020, representing the official price target for The Macerich Company stock. Previously, the target price had yet another raise from $8 to $12, while Wells Fargo kept a Underweight rating on MAC stock.

The Average True Range (ATR) for The Macerich Company is set at 0.73, with the Price to Sales ratio for MAC stock in the period of the last 12 months amounting to 2.15. The Price to Book ratio for the last quarter was 0.64, with the Price to Cash per share for the same quarter was set at 3.10.

How has MAC stock performed recently?

The Macerich Company [MAC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.27. With this latest performance, MAC shares gained by 14.44% in over the last four-week period, additionally plugging by 17.37% over the last 6 months – not to mention a drop of -57.98% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MAC stock in for the last two-week period is set at 50.96, with the RSI for the last a single of trading hit 44.68, and the three-weeks RSI is set at 54.07 for The Macerich Company [MAC]. The present Moving Average for the last 50 days of trading for this stock 9.09, while it was recorded at 10.97 for the last single week of trading, and 8.16 for the last 200 days.

The Macerich Company [MAC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and The Macerich Company [MAC] shares currently have an operating margin of +8.90 and a Gross Margin at +24.92. The Macerich Company’s Net Margin is presently recorded at +11.67.

Return on Total Capital for MAC is now 0.97, given the latest momentum, and Return on Invested Capital for the company is 1.43. Return on Equity for this stock inclined to 3.85, with Return on Assets sitting at 1.20. When it comes to the capital structure of this company, The Macerich Company [MAC] has a Total Debt to Total Equity ratio set at 212.67. Additionally, MAC Total Debt to Total Capital is recorded at 68.02, with Total Debt to Total Assets ending up at 63.23. Long-Term Debt to Equity for the company is recorded at 185.05, with the Long-Term Debt to Total Capital now at 59.18.

Reflecting on the efficiency of the workforce at the company, The Macerich Company [MAC] managed to generate an average of $145,915 per employee. Receivables Turnover for the company is 6.66 with a Total Asset Turnover recorded at a value of 0.10.

Earnings analysis for The Macerich Company [MAC]

With the latest financial reports released by the company, The Macerich Company posted 0.18/share EPS, while the average EPS was predicted by analysts to be reported at 0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MAC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Macerich Company go to 0.21%.

Insider trade positions for The Macerich Company [MAC]

There are presently around $1,341 million, or 93.70% of MAC stock, in the hands of institutional investors. The top three institutional holders of MAC stocks are: ONTARIO TEACHERS PENSION PLAN BOARD with ownership of 24,562,964, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 18,085,409 shares of the stock with an approximate value of $190.62 million in MAC stocks shares; and VANGUARD GROUP INC, currently with $171.44 million in MAC stock with ownership of nearly -17.944% of the company’s market capitalization.

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Positions in The Macerich Company stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 122 institutional holders increased their position in The Macerich Company [NYSE:MAC] by around 8,971,793 shares. Additionally, 145 investors decreased positions by around 18,180,147 shares, while 47 investors held positions by with 100,057,839 shares. The mentioned changes placed institutional holdings at 127,209,779 shares, according to the latest SEC report filing. MAC stock had 40 new institutional investments in for a total of 1,317,575 shares, while 42 institutional investors sold positions of 1,916,804 shares during the same period.

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