Stifel issues “Hold” Rating on Macerich Co (MAC)

Macerich Co (MAC) was Reiterated by Stifel to “Hold” while Lowering the Price Target of the company shares to $ 74 from a previous price target of $76 . Stifel advised their Clients and Investors in a research report released on Feb 7, 2017.

On the company’s financial health, Macerich Co reported $1.17 EPS for the quarter, based on the information available during the earnings call on Feb 6, 2017. Analyst had a consensus estimate of $1.17.Analysts expectations of $ 282.64.During the same quarter in the previous year, the company posted $1.12 EPS.

Several company insiders have filed Insider transactions , on Jan 19, 2017, Hern Thomas E O (Senior EVP, Treasurer & CFO) sold 5,000 shares at $70.00 per share price. According to the SEC, on Jan 4, 2017, Robert D Perlmutter (Senior EVP and COO) sold 1,500 shares at $70.79 per share price. On Sep 23, 2016, Randy L Brant (EVP, Real Estate) sold 24,250 shares at $83.10 per share price, according to the Form-4 filing with the securities and exchange commission.

Macerich Co closed down -0.05 points or -0.07% at $68.37 with 6,84,657 shares getting traded on Friday. Post opening the session at $68.31, the shares hit an intraday low of $68.16 and an intraday high of $68.73 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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

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