Macerich Company (The) (MAC) : Tuesdays money flow points at investors jumping to buy the stock on the weakness of price. $14.04 million worth of transactions were on upticks, whereas, the downticks accounted for $8.45 million worth of transactions. The net money flow was a positive $5.59 million and the uptick to downtick ratio was 1.66. The net money flow into the stock was $4.58 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $4.58 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. Macerich Company (The) (MAC) was trading at $82.1, down $0.61 during day. The stock slid -0.74% over the previous days close. For the week, the stock recorded 0.02% over the previous weeks close.
Also, BTIG Research initiates coverage on Macerich Company (The) (NYSE:MAC). The rating major has initiated the coverage with buy rating on the shares. The Analysts at BTIG Research announces a current price target of $97 per share. The rating by the firm was issued on August 25, 2016.
The Macerich Company has lost 0.01% in the last five trading days and dropped 7.78% in the last 4 weeks. The Macerich Company is up 7.95% in the last 3-month period. Year-to-Date the stock performance stands at 4.44%.
Macerich Company (The) (NYSE:MAC): The stock opened at $82.71 on Tuesday but the bulls could not build on the opening and the stock topped out at $82.82 for the day. The stock traded down to $81.55 during the day, due to lack of any buying support eventually closed down at $82.10 with a loss of -0.74% for the day. The stock had closed at $82.71 on the previous day. The total traded volume was 663,464 shares.
In a related news, The director, of Macerich Co, Soboroff Steven L had unloaded 2,000 shares at $78.32 per share in a transaction on February 23, 2016. The total value of transaction was $156,640. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
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.