Macerich (NYSE:MAC – Get Free Report) had its price objective raised by analysts at The Goldman Sachs Group from $13.00 to $14.60 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “sell” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 14.12% from the company’s previous close.
MAC has been the topic of a number of other reports. Evercore ISI increased their price target on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Piper Sandler increased their target price on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.45.
Check Out Our Latest Analysis on Macerich
Macerich Trading Up 1.4 %
Institutional Investors Weigh In On Macerich
Several large investors have recently made changes to their positions in MAC. DekaBank Deutsche Girozentrale increased its holdings in Macerich by 158.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust’s stock worth $2,201,000 after acquiring an additional 80,541 shares during the last quarter. Murphy Pohlad Asset Management LLC increased its holdings in Macerich by 297.7% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock worth $1,707,000 after acquiring an additional 82,760 shares during the last quarter. Jessup Wealth Management Inc purchased a new stake in Macerich in the 1st quarter worth about $7,222,000. Vanguard Group Inc. increased its holdings in Macerich by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 34,478,278 shares of the real estate investment trust’s stock worth $532,000,000 after acquiring an additional 336,251 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its holdings in Macerich by 82.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 112,724 shares of the real estate investment trust’s stock worth $1,942,000 after acquiring an additional 50,989 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.
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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