Macerich Co (MAC): Randy L Brant , EVP, Real Estate of Macerich Co sold 24,250 shares on Sep 23, 2016. The Insider selling transaction was reported by the company on Sep 23, 2016 to the Securities and Exchange Commission. The shares were sold at $83.10 per share for a total value of $2,015,216.25 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on Sep 2, 2016, Robert D Perlmutter (Senior EVP and COO) sold 1,500 shares at $81.52 per share price.On Aug 12, 2016, Steven L Soboroff (director) sold 2,000 shares at $78.32 per share price.Also, On Jun 17, 2016, Hern Thomas E O (Senior EVP, Treasurer & CFO) sold 5,000 shares at $79.03 per share price.On Mar 9, 2016, Thomas J. Leanse (Senior EVP, CLO & Secretary) sold 17,166 shares at $78.84 per share price.
Macerich Co: On Thursday, Sep 22, 2016 heightened volatility was witnessed in Macerich Co which led to swings in the share price. The shares opened for trading at $81.98 and hit $82.6 on the upside , eventually ending the session at $82.43, with a gain of 1.46% or 1.19 points. The heightened volatility saw the trading volume jump to 6,94,591 shares. The 52-week high of the share price is $94.51 and the company has a market cap of $11,839 M . The 52-week low of the share price is at $71.82.
Company has been under the radar of several Street Analysts.Macerich Co is Reiterated by Canaccord Genuity to Hold and the brokerage firm has raised the Price Target to $ 84 from a previous price target of $80 .The Rating was issued on Aug 16, 2016.
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.