Macerich Company (The) (NYSE:MAC) : Traders are bullish on Macerich Company (The) (NYSE:MAC) as it has outperformed the S&P 500 by a wide margin of 9.45% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.33%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.63% in the last 1 week, and is up 11.21% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 11.87% from its 1 Year high price. On Jul 8, 2016, the shares registered one year high at $87.54 and the one year low was seen on May 19, 2016. The 50-Day Moving Average price is $79.93 and the 200 Day Moving Average price is recorded at $78.68.
The stock has recorded a 20-day Moving Average of 6.88% and the 50-Day Moving Average is 11.15%.
Macerich Company (The) (NYSE:MAC): stock turned positive on Friday. Though the stock opened at $86.28, the bulls momentum made the stock top out at $87.54 level for the day. The stock recorded a low of $86.28 and closed the trading day at $87.49, in the green by 2.05%. The total traded volume for the day was 810,807. The stock had closed at $85.73 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Senior EVP and COO) of Macerich Co, Perlmutter Robert D had sold 1,500 shares worth of $128,235 in a transaction dated July 1, 2016. In this transaction, 1,500 shares were sold at $85.49 per share.
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.