Macerich (NYSE:MAC – Get Free Report) had its target price increased by investment analysts at Bank of America from $17.00 to $19.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Bank of America‘s price target would suggest a potential upside of 4.80% from the company’s current price.
MAC has been the subject of a number of other reports. Evercore ISI increased their price target on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Piper Sandler lifted their price target on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, September 3rd. Finally, The Goldman Sachs Group increased their price objective on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a report on Thursday, September 19th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.84.
View Our Latest Stock Report on MAC
Macerich Stock Performance
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of MAC. Fidelis Capital Partners LLC purchased a new stake in shares of Macerich during the first quarter valued at approximately $46,000. Quest Partners LLC purchased a new stake in Macerich during the 2nd quarter valued at $50,000. GAMMA Investing LLC increased its holdings in shares of Macerich by 40.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Macerich in the 2nd quarter worth $129,000. Finally, Inspire Advisors LLC bought a new position in shares of Macerich during the second quarter valued at $177,000. 87.38% of the stock is owned by hedge funds and other institutional investors.
About Macerich
Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.
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