Macerich Company (The) (MAC) : During the past 4 weeks, traders have been relatively bearish on Macerich Company (The) (MAC), hence the stock is down -8.42% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -3.17% relative to the S&P 500. The 4-week change in the price of the stock is -8.07% and the stock has fallen -3.2% in the past 1 week.
The Macerich Company is up 10.27% in the last 3-month period. Year-to-Date the stock performance stands at 4.03%. The stock has recorded a 20-day Moving Average of 4.73% and the 50-Day Moving Average is 3.09%.
Macerich Company (The) (NYSE:MAC): The stock opened at $82.80 on Friday but the bulls could not build on the opening and the stock topped out at $82.83 for the day. The stock traded down to $81.63 during the day, due to lack of any buying support eventually closed down at $81.78 with a loss of -1.46% for the day. The stock had closed at $82.99 on the previous day. The total traded volume was 1,080,482 shares.
Also, In the latest statement by the brokerage house, JP Morgan maintains its outlook on Macerich Company (The) (NYSE:MAC). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $83 per share to $87 per share. The rating by the firm was issued on August 5, 2016.
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.