In a report released today, Richard Hill from Morgan Stanley maintained a Sell rating on Macerich (MAC – Research Report), with a price target of $8.50. The company’s shares closed last Thursday at $9.28, close to its 52-week low of $8.42.
According to TipRanks.com, Hill is a 3-star analyst with an average return of 1.2% and a 51.5% success rate. Hill covers the Financial sector, focusing on stocks such as Phillips Edison & Company, Urban Edge Properties, and Healthpeak Properties.
The word on The Street in general, suggests a Hold analyst consensus rating for Macerich with a $14.69 average price target.
Macerich’s market cap is currently $2.01B and has a P/E ratio of -28.32.
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Macerich Co. operates as a real estate investment trust, which engages in the acquisition, ownership, development, redevelopment, management and leasing of regional and community shopping centers located throughout the United States. It conducts all of its operations through the operating partnership and the management companies. The company was founded by Mace Siegel, Dana K. Anderson, Arthur M. Coppola and Edward C. Coppola in 1964 and is headquartered in Santa Monica, CA.
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