Macerich Co (MAC) is Initiated by Mizuho to Neutral, Price Target at $88

Macerich Co (MAC) was Initiated by Mizuho to “Neutral” and the brokerage firm has set the Price Target at $88. Mizuho advised their investors in a research report released on Apr 14, 2016.

Many Wall Street Analysts have commented on Macerich Co. Macerich Co was Downgraded by BofA/Merrill to ” Neutral” on Mar 28, 2016.

On the company’s financial health, Macerich Co reported $1.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 3, 2016. Analyst had a consensus of $1.08. The company had revenue of $320.80 million for the quarter, compared to analysts expectations of $340.34 million. The company’s revenue was down -.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.05 EPS.

Macerich Co closed down -0.51 points or -0.64% at $78.84 with 18,44,209 shares getting traded on Monday. Post opening the session at $79.51, the shares hit an intraday low of $78.84 and an intraday high of $79.8 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Apr 5, 2016, Robert D Perlmutter (Senior EVP and COO) sold 1,500 shares at $79.53 per share price. According to the SEC, on Mar 17, 2016, Hern Thomas E O (Senior EVP, Treasurer & CFO) sold 5,000 shares at $79.42 per share price. On Mar 9, 2016, Thomas J. Leanse (Senior EVP, CLO & Secretary) sold 17,166 shares at $78.84 per share price, according to the Form-4 filing with the securities and exchange commission.

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 6000 Mall Stores and Freestanding Stores totaling approximately 26 million square feet of GLA.

Macerich Co

Leave a Reply

Macerich Co - Is it time to Sell?

Top Brokerage Firms are advising their investors on Macerich Co. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.