Analyst Rating Update on Macerich Company (The) (MAC)

Macerich Company (The) (NYSE:MAC) : 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 13 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Macerich Company (The) (NYSE:MAC). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 14 Wall Street Analysts endorse the stock as a Hold with a rating of 2.93.

Macerich Company (The) (NYSE:MAC) : 11 Wall Street analysts covering Macerich Company (The) (NYSE:MAC) believe that the average level the stock could reach for the short term is $83.91. The maximum price target given is $90 and the minimum target for short term is around $78, hence the standard deviation is calculated at $4.09.

Company shares have received an average consensus rating of Hold for the current week Also, Brokerage firm RBC Capital upgrades its rating on Macerich Company (The) (NYSE:MAC). The shares have been rated Outperform. Previously, the analysts had a Sector Perform rating on the shares. The rating by the firm was issued on May 6, 2016.

Macerich Company (The) (NYSE:MAC): stock turned positive on Tuesday. Though the stock opened at $81.65, the bulls momentum made the stock top out at $82.81 level for the day. The stock recorded a low of $81.5 and closed the trading day at $82.76, in the green by 2.12%. The total traded volume for the day was 1,101,772. The stock had closed at $81.04 in the previous days trading.

In an insider trading activity, The Securities and Exchange Commission has divulged that O Hern Thomas E, officer (Senior EVP, Treasurer & CFO) of Macerich Co, had unloaded 5,000 shares at an average price of $79.03 in a transaction dated on June 15, 2016. The total value of the transaction was worth $395,150.

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.

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