Macerich Company (The) (NYSE:MAC) has received a short term rating of hold from experts at Zacks with a rank of 3. The stock has been rated an average of 2.93 by 14 Brokerage Firm. 1 stock experts have also suggested a buy rating. 13 Brokerage Firms have advised hold.
Other Equity analysts have also commented on the company shares. In the latest statement by the brokerage house, RBC Capital upgrades its outlook on Macerich Company (The) (NYSE:MAC). The current rating of the shares is Outperform, according to the research report released by the firm. Previously, the company had a rating of Sector Perform. The rating by the firm was issued on May 6, 2016.
Macerich Company (The) (NYSE:MAC): The mean estimate for the short term price target for Macerich Company (The) (NYSE:MAC) stands at $83.91 according to 11 Analysts. The higher price target estimate for the stock has been calculated at $90 while the lower price target estimate is at $78.
Macerich Company (The) (NYSE:MAC) rose 1.12% or 0.9 points on Tuesday and made its way into the gainers of the day. After trading began at $80.77 the stock was seen hitting $81.855 as a peak level and $80.77 as the lowest level. The stock ended up at $81.52. The daily volume was measured at 1,023,868 shares. The 52-week high of the share price is $86.29 and the 52-week low is $71.82. The company has a market cap of $12,105 million.
Shares of The Macerich Company rose by 3.33% in the last five trading days and 9.01% for the last 4 weeks. The Macerich Company is up 3.53% in the last 3-month period. Year-to-Date the stock performance stands at 2.85%.
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.