The Macerich Company [NYSE: MAC] traded at a low on 03/29/21, posting a -5.01 loss after which it closed the day’ session at $11.57. The company report on March 26, 2021 that Macerich Substantially Improves and Clarifies Liquidity Position.
Today, the Macerich Company (NYSE: MAC, the “Company”) announced certain major capital events and other updates.
Through March 25, 2021, the Company has sold 36.0 million shares of common stock under its “at the market” equity program at a weighted average price of $13.54 per share, generating gross proceeds of approximately $487.3 million. As of March 25, 2021, approximately 1.0 million shares remain available to be issued under the program.
The results of the trading session contributed to over 18968287 shares changing hands. Over the past one week, the price volatility of The Macerich Company stands at 8.03% while the volatility over the past one month is 6.95%.
The market cap for MAC stock reached $1.91 billion, with 149.72 million shares outstanding and 146.31 million shares in the current float. Compared to the average trading volume of 9.36M shares, MAC reached a trading volume of 18968287 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 $12.36 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 0.91, with the Price to Sales ratio for MAC stock in the period of the last 12 months amounting to 2.43. The Price to Book ratio for the last quarter was 0.77, with the Price to Cash per share for the same quarter was set at 2.82.
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 -10.86. With this latest performance, MAC shares dropped by -10.45% in over the last four-week period, additionally plugging by 71.15% over the last 6 months – not to mention a rise of 97.57% 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 36.05, with the RSI for the last a single of trading hit 28.35, and the three-weeks RSI is set at 41.25 for The Macerich Company [MAC]. The present Moving Average for the last 50 days of trading for this stock 13.71, while it was recorded at 12.04 for the last single week of trading, and 9.97 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 +29.86 and a Gross Margin at +14.69. The Macerich Company’s Net Margin is presently recorded at +0.02.
Return on Total Capital for MAC is now 2.65, given the latest momentum, and Return on Invested Capital for the company is 0.00. Return on Equity for this stock inclined to 0.01, with Return on Assets sitting at 0.00. When it comes to the capital structure of this company, The Macerich Company [MAC] has a Total Debt to Total Equity ratio set at 277.48. Additionally, MAC Total Debt to Total Capital is recorded at 73.51, with Total Debt to Total Assets ending up at 68.19. Long-Term Debt to Equity for the company is recorded at 175.68, with the Long-Term Debt to Total Capital now at 46.54.
Reflecting on the efficiency of the workforce at the company, The Macerich Company [MAC] managed to generate an average of $237 per employee. Receivables Turnover for the company is 5.37 with a Total Asset Turnover recorded at a value of 0.08.
Earnings analysis for The Macerich Company [MAC]
With the latest financial reports released by the company, The Macerich Company posted 0.05/share EPS, while the average EPS was predicted by analysts to be reported at 0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 150.00%. 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 $1,526 million, or 89.70% 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 0.10% of the total institutional ownership; BLACKROCK INC., holding 21,011,260 shares of the stock with an approximate value of $243.1 million in MAC stocks shares; and VANGUARD GROUP INC, currently with $206.23 million in MAC stock with ownership of nearly 9.582% of the company’s market capitalization.
Positions in The Macerich Company stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 140 institutional holders increased their position in The Macerich Company [NYSE:MAC] by around 17,998,071 shares. Additionally, 136 investors decreased positions by around 13,303,796 shares, while 47 investors held positions by with 100,600,400 shares. The mentioned changes placed institutional holdings at 131,902,267 shares, according to the latest SEC report filing. MAC stock had 48 new institutional investments in for a total of 3,471,804 shares, while 49 institutional investors sold positions of 6,746,533 shares during the same period.