In yesterday’s Wall Street session, Macerich Co. (NYSE:MAC) shares traded at $16.40, up 12.48% from the previous session.
MAC stock price is now 47.29% away from the 50-day moving average and 48.97% away from the 200-day moving average. The market capitalization of the company currently stands at $3.53B.
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With the price target enhanced from $11 to $12, Piper Sandler Upgraded its rating from Underweight to Neutral for Macerich Co. (NYSE: MAC).
A total of 0.79% of the company’s stock is owned by insiders.
During the past 12 months, Macerich Co. has had a low of $8.77 and a high of $14.88. The fifty day moving average price for MAC is $11.13 and a two-hundred day moving average price translates $11.01 for the stock.
The latest earnings results from Macerich Co. (NYSE: MAC) was released for Sep, 2023. According to the REIT – Retail Company, earnings per share came in at -$1.22, missing analysts’ expectations of -$0.05 by -1.17. This compares to -$0.07 EPS in the same period last year. The net profit margin was -23.05% and return on equity was -12.58% for MAC. The company reported revenue of $218.15 million for the quarter, compared to $210.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.53 percent. For the current quarter, analysts expect MAC to generate $234.4M in revenue.
Macerich Co.(MAC) Company Profile
Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 47 million square feet of real estate consisting primarily of interests in 44 regional town centers. Macerich is firmly dedicated to advancing environmental goals, social good and sound corporate governance. A recognized leader in sustainability, Macerich has achieved a #1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for nine consecutive years (2015-2023).
