Reassessing The Changing Outlook For Macerich Co. (MAC)

Currently, there are 215.98M common shares owned by the public and among those 214.04M shares have been available to trade.

Insiders at the company have transacted a total of 8 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 118,515 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

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The company’s stock has a 5-day price change of -1.31% and 45.42% over the past three months. MAC shares are trading 7.06% year to date (YTD), with the 12-month market performance up to 40.94% higher. It has a 12-month low price of $8.57 and touched a high of $17.69 over the same period. MAC has an average intraday trading volume of 2.22 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.08%, 2.62%, and 32.45% respectively.

Institutional ownership of Macerich Co. (NYSE: MAC) shares accounts for 88.52% of the company’s 215.98M shares outstanding.

It has a market capitalization of $3.56B and a beta (3y monthly) value of 2.38. The earnings-per-share (ttm) stands at -$0.65. The company has a debt-to-equity ratio at 1.80. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.19% over the week and 3.70% over the month.

Analysts forecast that Macerich Co. (MAC) will achieve an EPS of -$0.09 for the current quarter, -$0.06 for the next quarter and -$0.11 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.16 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was -$0.27 a year ago. Earnings per share for the fiscal year are expected to increase by 88.95%, and 29.21% over the next financial year.

Looking at the support for the MAC, a number of firms have released research notes about the stock. Piper Sandler stated their Neutral rating for the stock in a research note on October 02, 2023, with the firm’s price target at $11-$12. Goldman coverage for the Macerich Co. (MAC) stock in a research note released on March 21, 2023 offered a Sell rating with a price target of $8.50. Morgan Stanley was of a view on December 16, 2022 that the stock is Underweight, while Piper Sandler gave the stock Underweight rating on April 18, 2022, issuing a price target of $18- $14. Piper Sandler on their part issued Neutral rating on November 04, 2021.

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