The Macerich Company (NYSE:MAC – Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $19.00 and last traded at $18.98, with a volume of 467169 shares traded. The stock had previously closed at $18.49.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. Bank of America lifted their price objective on Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price target on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Finally, Evercore ISI raised their price target on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Macerich presently has an average rating of “Hold” and a consensus price target of $15.84.
Read Our Latest Research Report on MAC
Macerich Stock Up 2.7 %
Institutional Investors Weigh In On Macerich
A number of institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp grew its position in shares of Macerich by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 37,235 shares of the real estate investment trust’s stock worth $681,000 after purchasing an additional 4,086 shares in the last quarter. Lodestone Wealth Management LLC boosted its stake in shares of Macerich by 0.6% in the third quarter. Lodestone Wealth Management LLC now owns 154,082 shares of the real estate investment trust’s stock valued at $2,810,000 after buying an additional 859 shares during the period. Janney Montgomery Scott LLC grew its position in Macerich by 26.3% during the third quarter. Janney Montgomery Scott LLC now owns 47,804 shares of the real estate investment trust’s stock worth $872,000 after buying an additional 9,943 shares in the last quarter. Murphy Pohlad Asset Management LLC increased its stake in Macerich by 4.4% during the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 115,460 shares of the real estate investment trust’s stock worth $2,106,000 after acquiring an additional 4,900 shares during the period. Finally, abrdn plc raised its holdings in Macerich by 9.2% in the 3rd quarter. abrdn plc now owns 42,971 shares of the real estate investment trust’s stock valued at $784,000 after acquiring an additional 3,636 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.
Macerich Company Profile
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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