Macerich Co. (NYSE: MAC) has seen a decline in its stock price by -0.81 in relation to its previous close of 18.46. However, the company has experienced a -0.27% decline in its stock price over the last five trading sessions. seekingalpha.com reported 2024-10-16 that Macerich is a REIT focused on malls and shopping centers, currently yielding 3.8%, with no clear growth story. Management aims to reduce debt by $2B through asset sales, but this likely means revenue and cash flows will decline in the near term. E-commerce growth and the shift from brick-and-mortar retail present significant challenges, making MAC’s turnaround and profitable growth uncertain.
Is It Worth Investing in Macerich Co. (NYSE: MAC) Right Now?
The stock has a 36-month beta value of 2.54. Opinions on the stock are mixed, with 4 analysts rating it as a “buy,” 1 as “overweight,” 13 as “hold,” and 1 as “sell.”
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The public float for MAC is 214.03M, and at present, short sellers hold a 5.98% of that float. On October 23, 2024, the average trading volume of MAC was 1.48M shares.
MAC’s Market Performance
MAC’s stock has seen a -0.27% decrease for the week, with a 4.21% rise in the past month and a 15.45% gain in the past quarter. The volatility ratio for the week is 2.33%, and the volatility levels for the past 30 days are at 2.40% for Macerich Co. The simple moving average for the past 20 days is 1.37% for MAC’s stock, with a 14.55% simple moving average for the past 200 days.
Analysts’ Opinion of MAC
Many brokerage firms have already submitted their reports for MAC stocks, with Scotiabank repeating the rating for MAC by listing it as a “Sector Underperform.” The predicted price for MAC in the upcoming period, according to Scotiabank is $14 based on the research report published on May 17, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see MAC reach a price target of $11, previously predicting the price at $17. The rating they have provided for MAC stocks is “Underweight” according to the report published on May 01st, 2024.
Citigroup gave a rating of “Neutral” to MAC, setting the target price at $17 in the report published on March 22nd of the current year.
MAC Trading at 9.58% from the 50-Day Moving Average
After a stumble in the market that brought MAC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -3.33% of loss for the given period.
Volatility was left at 2.40%, however, over the last 30 days, the volatility rate increased by 2.33%, as shares surge +3.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +25.93% upper at present.
During the last 5 trading sessions, MAC fell by -0.27%, which changed the moving average for the period of 200-days by +22.47% in comparison to the 20-day moving average, which settled at $18.06. In addition, Macerich Co. saw 18.66% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MAC starting from Volk Kenneth, who purchase 5,000 shares at the price of $15.40 back on May 10 ’24. After this action, Volk Kenneth now owns 51,924 shares of Macerich Co., valued at $77,025 using the latest closing price.
Kingsmore Scott W, the Chief Financial Officer of Macerich Co., purchase 6,000 shares at $16.06 during a trade that took place back on May 09 ’24, which means that Kingsmore Scott W is holding 42,310 shares at $96,360 based on the most recent closing price.
Stock Fundamentals for MAC
Current profitability levels for the company are sitting at:
- 0.32 for the present operating margin
- 0.31 for the gross margin
The net margin for Macerich Co. stands at -0.09. The total capital return value is set at 0.04. Equity return is now at value -2.91, with -0.97 for asset returns.
Based on Macerich Co. (MAC), the company’s capital structure generated 0.65 points at debt to capital in total, while cash flow to debt ratio is standing at 0.08. The debt to equity ratio resting at 1.82. The interest coverage ratio of the stock is 1.53.
Currently, EBITDA for the company is 459.94 million with net debt to EBITDA at 12.48. When we switch over and look at the enterprise to sales, we see a ratio of 9.49. The receivables turnover for the company is 6.2for trailing twelve months and the total asset turnover is 0.11.
Conclusion
To sum up, Macerich Co. (MAC) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
