Macerich Company (The) (MAC) : The most positive equity analysts on Macerich Company (The) (MAC) expects the shares to touch $94, whereas, the least positive believes that the stock will trade at $79 in the short term. The company is covered by 9 Wall Street Brokerage Firms. The average price target for shares are $86.11 with an expected fluctuation of $4.34 from the mean.
Macerich Company (The) (MAC) : The consensus on Macerich Company (The) (MAC) based on 13 analyst recommendation on the company stock is 2.92, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 12 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.
Also, BTIG Research initiates coverage on Macerich Company (The) (NYSE:MAC). The rating major has initiated the coverage with buy rating on the shares. The Analysts at BTIG Research announces a current price target of $97 per share. The rating by the firm was issued on August 25, 2016.
Macerich Company (The) (NYSE:MAC): The stock opened at $81.96 on Thursday but the bulls could not build on the opening and the stock topped out at $82.07 for the day. The stock traded down to $81.22 during the day, due to lack of any buying support eventually closed down at $81.48 with a loss of -0.50% for the day. The stock had closed at $81.89 on the previous day. The total traded volume was 610,048 shares.
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.