Macerich Co (NYSE:MAC)
April 16th, 2019
With markets going up Macerich Co fell ($1.96) Tuesday, a 4.56% decline, closing at $41.04. As well as the drop in value, Macerich Co hit a new 52 week low of $40.03, breaking the previous low of $40.90 from December 2018. Despite the drop in value, trading volumes were solid at 306.00% of normal which can indicate investor opportunities. It’s expected that Macerich Co will report earnings within the next couple of weeks. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 0.60.
MAC was outperformed by the rest of the Real Estate sector which went down only -2.38%.
Macerich Co is listed on the S&P 500 index, and was one of 220 stocks that slumped today. Weighted by market cap, MAC represents about 0.02% of the S&P 500.
Analysis results from 17 analysts suggest that Macerich Co might go up quite a bit (14.63%), while Finbox has calculated (with very high uncertainty) a fair value price of $29.08.
The market sectors were mixed Tuesday with a majority of the sectors trending up. Financials saw the biggest increase of the day (1.37%), while Real Estate saw the biggest drop (-2.38%). Information Technology has seen the biggest year-to-date gain at 23.78%.
Energy saw the biggest turnaround from its 5-day performance of -1.22%, as it went up 0.64%. Real Estate and Utilities experienced turn arounds from their five day positive performance, Real Estate with a drop of -2.38%.
- Financials went up with a 1.37% change.
- Energy went up with a 0.64% change.
- Industrials went up with a 0.59% change.
- Information Technology went up with a 0.49% change.
- Consumer Discretionary went up with a 0.48% change.
- Materials went up with a 0.47% change.
- Communication Services went up with a 0.21% change.
- Consumer Staples went down with a -0.06% change.
- Utilities went down with a -1.39% change.
- Healthcare went down with a -2.03% change.
- Real Estate went down with a -2.38% change.
Macerich Co Info
Macerich, an S&P 500 company, is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in the West Coast, Arizona, Chicago, and the New York Metro area to Washington, DC corridor. A recognized leader in sustainability, Macerich has earned Nareit’s prestigious “Leader in the Light” award every year from 2014-2018. For the fourth straight year in 2018 Macerich achieved the #1 GRESB ranking in the North American Retail Sector, among many other environmental accomplishments.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Macerich Co’s score is 0.60) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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