The Macerich Company [NYSE: MAC] stock went on a downward path that fall over -5.10% on Wednesday, amounting to a one-week price decrease of less than -16.50%. The company report on March 8, 2023 that Macerich to Bring Din Tai Fung, ‘World’s Greatest Dumplings’ to Santa Monica Place.
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Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of high-quality retail and mixed-use properties in top markets, today announced that Din Tai Fung – often described as the “world’s greatest dumplings” – is coming to Santa Monica Place.
Din Tai Fung will take a prime, 10,615-square-foot, indoor/outdoor location with ocean views on the third level of the property, across from the newly announced ARTE MUSEUM.
Over the last 12 months, MAC stock dropped by -30.25%. The one-year The Macerich Company stock forecast points to a potential upside of 23.01. The average equity rating for MAC stock is currently 3.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.27 billion, with 215.18 million shares outstanding and 206.00 million shares in the current float. Compared to the average trading volume of 1.56M shares, MAC stock reached a trading volume of 4625515 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $12.82 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 3.20. 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.
Morgan Stanley have made an estimate for The Macerich Company shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on December 16, 2022. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $18 to $14. The new note on the price target was released on April 18, 2022, representing the official price target for The Macerich Company stock. Previously, the target price had yet another raise from $13 to $23, while Piper Sandler kept a Neutral rating on MAC stock. On October 19, 2021, analysts increased their price target for MAC shares from 16 to 18.
The Average True Range (ATR) for The Macerich Company is set at 0.47, with the Price to Sales ratio for MAC stock in the period of the last 12 months amounting to 2.64. The Price to Book ratio for the last quarter was 0.74, with the Price to Cash per share for the same quarter was set at 0.44. Price to Free Cash Flow for MAC in the course of the last twelve months was 12.62.
MAC Stock Performance Analysis:
The Macerich Company [MAC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.50. With this latest performance, MAC shares dropped by -26.40% in over the last four-week period, additionally plugging by 6.02% over the last 6 months – not to mention a drop of -30.25% 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 20.49, with the RSI for the last a single of trading hit 12.92, and the three-weeks RSI is set at 27.38 for The Macerich Company [MAC]. The present Moving Average for the last 50 days of trading for this stock 12.39, while it was recorded at 10.55 for the last single week of trading, and 10.92 for the last 200 days.
Insight into The Macerich Company Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and The Macerich Company [MAC] shares currently have an operating margin of +14.65 and a Gross Margin at +20.56. The Macerich Company’s Net Margin is presently recorded at -7.80.
Return on Equity for this stock declined to -2.26, with Return on Assets sitting at -0.81.
MAC Stock EPS
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%.
The Macerich Company [MAC] Insider Position Details
There are presently around $1,757 million, or 83.60% of MAC stock, in the hands of institutional investors. The top three institutional holders of MAC stocks are: VANGUARD GROUP INC with ownership of 32,248,130, which is approximately 4.062% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 30,685,317 shares of the stock with an approximate value of $302.86 million in MAC stocks shares; and SMEAD CAPITAL MANAGEMENT, INC., currently with $208.85 million in MAC stock with ownership of nearly 16.8% of the company’s market capitalization.
Positions in The Macerich Company stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 131 institutional holders increased their position in The Macerich Company [NYSE:MAC] by around 17,692,167 shares. Additionally, 144 investors decreased positions by around 17,017,297 shares, while 46 investors held positions by with 143,267,740 shares. The mentioned changes placed institutional holdings at 177,977,204 shares, according to the latest SEC report filing. MAC stock had 39 new institutional investments in for a total of 6,211,762 shares, while 33 institutional investors sold positions of 3,584,959 shares during the same period.