Macerich (NYSE:MAC) Downgrade of Rating
Goldman Sachs gave Macerich (NYSE:MAC) shares a new Sell rating in a note issued on Friday morning. This is downgrade from the previous Neutral rating.
According to data compiled by Thomson Reuters, Macerich (NYSE:MAC)’s stock is covered by 15 equity analysts across the Street, with 1 analysts giving it a Sell rating, 2 a Buy rating, while 17 consider it a Hold. The 12-month consensus target price for the stock is $82.13, which reflects an upside potential of 27.10% over the current price.
Ontario Teachers Pension Plan Board had the largest stake with ownership of 23.29 million shares as of Q2 2015 for 18.43% of the fund portfolio. Oakwood Capital Management Llc Ca is another quite bullish active investment manager who is possessing 263,302 shares of Macerich or 5.47% of their fund portfolio. Also, Barings Real Estate Advisers Llc have 4.31% of their fund portfolio invested in the company for 170,451 shares. The New York-based fund South Street Advisors Llc disclosed it had acquired so far a stake worth about 3.29% of the active investment manager’s stock portfolio in Macerich. The New York-based fund Third Avenue Management Llc is also positive about the stock, possessing 131,915 shares or 2.88% of their fund portfolio.
Macerich (NYSE:MAC) Profile
The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P. (the Operating Partnership).
Macerich (NYSE:MAC) closed at $64.62 yesterday. A total of shares of the company’s stock traded hands. This is down from average of 1.20M shares. Macerich has a 52 week low of $62.48 and a 52 week high of $94.51. The company has a market cap of $9.26B and a P/E ratio of 18.23.
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