The stock of Macerich Co (NYSE:MAC) hit a new 52-week low and has $63.72 target or 6.00% below today’s $67.79 share price. The 8 months bearish chart indicates high risk for the $9.63 billion company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $63.72 price target is reached, the company will be worth $577.80 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 278,699 shares traded hands. Macerich Co (NYSE:MAC) has declined 13.27% since April 7, 2016 and is downtrending. It has underperformed by 18.05% the S&P500.
Macerich Co (NYSE:MAC) Ratings Coverage
Out of 10 analysts covering The Macerich Company (NYSE:MAC), 4 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 40% are positive. The Macerich Company has been the topic of 22 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Evercore maintained Macerich Co (NYSE:MAC) rating on Tuesday, September 8. Evercore has “Hold” rating and $81 price target. The rating was downgraded by Boenning & Scattergood on Wednesday, April 6 to “Neutral”. The rating was maintained by Deutsche Bank on Monday, March 21 with “Hold”. The firm earned “Hold” rating on Wednesday, July 22 by Canaccord Genuity. BTIG Research initiated Macerich Co (NYSE:MAC) rating on Thursday, August 25. BTIG Research has “Buy” rating and $97 price target. The firm has “Hold” rating given on Monday, July 18 by Deutsche Bank. Zacks upgraded the shares of MAC in a report on Thursday, September 17 to “Buy” rating. On Tuesday, July 21 the stock rating was initiated by Deutsche Bank with “Hold”. As per Monday, November 7, the company rating was upgraded by Mizuho. The stock of Macerich Co (NYSE:MAC) earned “Neutral” rating by Bank of America on Monday, March 28.
According to Zacks Investment Research, “MACERICH CO. is a self-administered, self-managed real estate investment trust which is engaged in the acquisition, ownership, redevelopment, management and leasing of regional shopping centers located throughout the United States.”
Insitutional Activity: The institutional sentiment decreased to 0.84 in 2016 Q2. Its down 0.06, from 0.9 in 2016Q1. The ratio dived, as 26 funds sold all Macerich Co shares owned while 136 reduced positions. 36 funds bought stakes while 100 increased positions. They now own 134.93 million shares or 5.87% less from 143.34 million shares in 2016Q1.
Tiaa Cref Investment Mngmt Ltd Liability holds 0.02% or 286,119 shares in its portfolio. Cohen And Steers Inc holds 0.01% of its portfolio in Macerich Co (NYSE:MAC) for 43,453 shares. Westpac Corporation holds 0% of its portfolio in Macerich Co (NYSE:MAC) for 75,432 shares. The Washington-based Cornerstone Advsr Inc has invested 0% in Macerich Co (NYSE:MAC). Tokio Marine Asset Mgmt holds 0.16% or 18,000 shares in its portfolio. Moody Bank & Trust Trust Division reported 5,711 shares or 0.03% of all its holdings. Toronto Dominion Bank has 697 shares for 0% of their US portfolio. Principal Financial Gp last reported 193,976 shares in the company. Sumitomo Mitsui Trust Hldgs reported 470,691 shares or 0.07% of all its holdings. Bnp Paribas Arbitrage, a New York-based fund reported 33,850 shares. Goldman Sachs Group Incorporated reported 734,935 shares or 0.02% of all its holdings. The Alberta – Canada-based Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment Corp has invested 0.09% in Macerich Co (NYSE:MAC). Ladenburg Thalmann Fincl Incorporated last reported 250 shares in the company. Alpine Woods Capital Ltd holds 31,928 shares or 0.16% of its portfolio. Globeflex Cap Lp accumulated 20,574 shares or 0.48% of the stock.
Insider Transactions: Since May 16, 2016, the stock had 0 insider purchases, and 8 insider sales for $3.40 million net activity. PERLMUTTER ROBERT D sold $119,182 worth of stock. 5,000 shares with value of $395,150 were sold by O HERN THOMAS E on Wednesday, June 15. Shares for $2.02M were sold by Brant Randy L on Friday, September 23.
More important recent Macerich Co (NYSE:MAC) news were published by: Forbes.com which released: “Macerich (MAC) Shares Cross 4% Yield Mark” on October 28, 2016, also Prnewswire.com published article titled: “Macerich And WithMeâ„¢ Bring Transformative Smart Retail Concept To The Mall …”, Wsj.com published: “Taubman, Macerich to Buy Kansas City’s Country Club Plaza” on January 04, 2016. More interesting news about Macerich Co (NYSE:MAC) was released by: Bloomberg.com and their article: “Macerich Sells Mall Interests to GIC, Heitman for $2.3 Billion” with publication date: September 30, 2015.
MAC Company Profile
The Macerich Company, incorporated on September 9, 1993, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. The Firm owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers. It specializes in retail properties in many of the country’s populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor.
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