Macerich (MAC) was Downgraded to a Hold Rating at BMO Capital

By Jason Carr

Macerich (MACResearch Report) received a Hold rating and a $33.00 price target from BMO Capital analyst Jeremy Metz yesterday. The company’s shares closed last Monday at $32.05, close to its 52-week low of $27.54.

According to TipRanks.com, Metz is a 1-star analyst with an average return of -0.6% and a 49.4% success rate. Metz covers the Financial sector, focusing on stocks such as National Storage Affiliates Trust, Monmouth Real Estate Investment, and Retail Opportunity Investments.

Currently, the analyst consensus on Macerich is a Hold with an average price target of $33.00, a 4.6% upside from current levels. In a report issued on September 10, Barclays also maintained a Hold rating on the stock with a $33.00 price target.

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The company has a one-year high of $55.54 and a one-year low of $27.54. Currently, Macerich has an average volume of 1.88M.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MAC in relation to earlier this year.

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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.