Macerich Company (The) (MAC) : 13 analysts are covering Macerich Company (The) (MAC) and their average rating on the stock is 2.92, which is read as a Hold. Macerich Company (The) (MAC) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 12 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Macerich Company (The) (MAC) : 9 investment research analysts covering Macerich Company (The) (MAC) have an average price target of $86.44 for the near short term. The highest target price given by the Brokerage Firm to the stock is $94 and the lowest target is $79 for the short term. Analysts expect the variance to be within $4.28 of the average price.
Company shares have received an average consensus rating of Hold for the current week Macerich Company (The) (NYSE:MAC): The stock opened at $85.30 on Thursday but the bulls could not build on the opening and the stock topped out at $85.80 for the day. The stock traded down to $83.76 during the day, due to lack of any buying support eventually closed down at $84.23 with a loss of -1.58% for the day. The stock had closed at $85.58 on the previous day. The total traded volume was 1,364,808 shares.
In a related news,The officer (Senior EVP and COO) of Macerich Co, Perlmutter Robert D sold 1,500 shares at $89.79 on August 1, 2016. The Insider selling transaction had a total value worth of $134,685. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.