Investors Getting Picky When It Comes To Buying Macerich Co. (MAC)

Macerich Co. (NYSE:MAC) does about 1.93M shares in volume on a normal day but saw 1230172 shares change hands in Friday trading. The company now has a market cap of 3.15B USD. Its current market price is $14.59, marking a decrease of -2.41% compared to the previous close of $14.95. The 52 week high reached by this stock is $17.69 whilst the lowest price level in 52 weeks is $9.14.

Macerich Co. (MAC) has a 20-day trading average at $14.80 and the current price is -17.52% off the 52-week high compared with 59.62% distance from its 52-week low. The 50-day simple moving average of the closing price is $15.02 and its 200-day simple moving average is $14.35. If we look at the stock’s price movements over the week, volatility stands at 3.28%, which decreases to 2.96% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 45.61 to suggest the stock is neutral.

The consensus objective for the share price is $14.58, suggesting that the stock has a potential downside of -0.07% over the period.

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The company shares received a number of brokerage firm price updates over the past month, with the latest being on May 17, 2024 when Scotiabank downgraded the stock to “Sector Underperform” and issued a price target of between $16 and $14. Piper Sandler also downgraded the stock to “Underweight” from Neutral on May 01, 2024 at a price target of $17-$11. Citigroup upgraded its price target at $8-$17.

Macerich Co. (MAC) stock is down -3.70% over the week and -4.01% over the past month. Its price is -5.44% year-to-date and 30.40% over the past year.

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To reach the target analysts have set, the stock logically needs to shrink -0.07 percent from here.

The company has a return on investment of -2.83% and return on equity of -13.54%. The beta has a value of 2.55. Price to book ratio is 1.38 and price to sales ratio is 3.58.

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