389 institutions hold shares in The Macerich Company (MAC), with 11.41M shares held by insiders accounting for 7.62% while institutional investors hold 101.36% of the company’s shares. The shares outstanding are 149.63M, and float is at 141.31M with Short Float at 24.28%. Institutions hold 93.64% of the Float.
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The top institutional shareholder in the company is Ontario Teachers’ Pension Plan Board with over 24.56 million shares valued at $166.78 million. The investor’s holdings represent 16.43% of the MAC Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 21.01 million shares valued at $224.19 million to account for 14.06% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 16.27 million shares representing 10.88% and valued at over $110.44 million, while State Street Corporation holds 4.77% of the shares totaling 7.13 million with a market value of $48.4 million.
The Macerich Company (NYSE: MAC) is 17.34% higher on its value in year-to-date trading and has touched a low of $4.56 and a high of $25.99 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MAC stock was last observed hovering at around $12.45 in the last trading session, with the day’s gains setting it 0.07% off its average median price target of $12.00 for the next 12 months. It is also 78.04% off the consensus price target high of $57.00 offered by 17 analysts, but current levels are -47.29% lower than the price target low of $8.50 for the same period.
Currently trading at $12.52, the stock is -13.31% and -1.88% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.61 million and changing 0.56% at the moment leaves the stock 35.22% off its SMA200. MAC registered -43.63% loss for a year compared to 6-month gain of 66.71%. The firm has a 50-day simple moving average (SMA 50) of $13.65 and a 200-day simple moving average (SMA200) of $9.77.
The stock witnessed a -11.02% loss in the last 1 month and extending the period to 3 months gives it a 39.42%, and is -1.80% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.92% over the week and 13.03% over the month.
The Macerich Company (MAC) has around 723 employees, a market worth around $2.00B and $833.20M in sales. Profit margin for the company is 6.50%. Distance from 52-week low is 174.69% and -51.83% from its 52-week high. The company has generated returns on investments over the last 12 months (0.60%).
The Macerich Company (MAC) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for The Macerich Company (MAC) is a “Underweight”. 17 analysts offering their recommendations for the stock have an average rating of 3.40, where 5 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 8 analysts have rated the stock as a Sell or Underperform.
The Macerich Company is expected to release its quarterly report on 05/05/2021 and quarterly earnings per share for the current quarter are estimated at -$0.21 with sales reaching $182.82M over the same period.The EPS is expected to grow by 62.10% this year, but quarterly earnings will post -5.00% year-over-year. Quarterly sales are estimated to shrink -13.20% in year-over-year returns.
The Macerich Company (MAC) Insider Activity
A total of 2 insider transactions have happened at The Macerich Company (MAC) in the last six months, with sales accounting for 2 and purchases happening 0 times. The most recent transaction is an insider sale by ONTARIO TEACHERS PENSION PLAN , the company’s 10% Owner. SEC filings show that ONTARIO TEACHERS PENSION PLAN sold 24,562,964 shares of the company’s common stock on Jan 27 at a price of $20.25 per share for a total of $497.37 million. Following the sale, the insider now owns 0.0 shares.
The Macerich Company disclosed in a document filed with the SEC on Dec 07 that ANDERSON DANA K (Vice Chair Emeritus) sold a total of 24,100 shares of the company’s common stock. The trade occurred on Dec 07 and was made at $11.57 per share for $0.28 million. Following the transaction, the insider now directly holds 75116.0 shares of the MAC stock.
Still, SEC filings show that on Mar 31, COPPOLA EDWARD C (President) acquired 5,000 shares at an average price of $5.53 for $27670.0. The insider now directly holds 28,000 shares of The Macerich Company (MAC).
The Macerich Company (MAC): Who are the competitors?
The company’s main competitors (and peers) include Boston Properties Inc. (BXP) that is -37.22% lower over the past 12 months. Short interest in the company’s stock has fallen -135.03% from the last report on Dec 30, 2020 to stand at a total of 80.64 million short shares sold with a short interest ratio of 3.54.