Analyst Price Target Update on Macerich Company (The) (NYSE:MAC)

Macerich Company (The) (NYSE:MAC) shares are expected to touch $83.91 in the short term. This short term price target has been shared by 11 analysts. However, the standard deviation of short term price estimate has been valued at 4.09. The target price could hit $90 on the higher end and $78 on the lower end.

Many analysts have stated their opinion on the company shares. In a research note released to the investors, RBC Capital upgrades its rating on Macerich Company (The) (NYSE:MAC).The analysts at the brokerage house have a current rating of Outperform on the shares. Earlier, the shares were rated a Sector Perform by the brokerage firm. The rating by the firm was issued on May 6, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities, The Securities and Exchange Commission has divulged that Perlmutter Robert D, officer (Senior EVP and COO) of Macerich Co, had unloaded 1,500 shares at an average price of $76.44 in a transaction dated on June 1, 2016. The total value of the transaction was worth $114,660.

Macerich Company (The) (NYSE:MAC) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.03 points or 0.04% at $78.64 with 944,927 shares getting traded. Post opening the session at $78.74, the shares hit an intraday low of $78.55 and an intraday high of $79.32 and the price was in this range throughout the day. The company has a market cap of $11,677 million and the number of outstanding shares have been calculated to be 148,492,670 shares. The 52-week high of Macerich Company (The) (NYSE:MAC) is $86.29 and the 52-week low is $71.82.

The Macerich Company is a self-managed and self-administered real estate investment trust (REIT). The Company is engaged in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company, through its partnership and ownership interests in the Macerich Partnership, L.P., has an ownership interest in 51 regional shopping centers and eight community/power shopping centers. These 59 regional and community/power shopping centers (which include any related office space) consist of approximately 55 million square feet of gross leasable area (GLA). The Centers primarily included 194 Anchors totaling approximately 28 million square feet of GLA and approximately 6,000 Mall Stores and Freestanding Stores totaling approximately 26 million square feet of GLA.

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