Goldman Sachs Downgrades Macerich Co to Sell with Price Target $64

Brokerage firm Goldman Sachs Downgrades its rating on Macerich Co(MAC). As per the latest information, Goldman Sachs Lowers the price target to $64 per share from a prior target of $72. The shares have been rated Sell. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at Goldman Sachs was issued on Mar 17, 2017 in a research report to their Investors and Clients.

Macerich Co (MAC) shares turned negative on Wednesdays trading session with the shares closing down -1.45 points or -2.26% at a volume of 25,01,238. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $64.04. The peak price level was also seen at $64.04 while the days lowest was $62.14. Finally the shares closed at $62.84. The 52-week high of the shares is $94.51 while the 52-week low is $62.14. According to the latest information available, the market cap of the company is $9,043 M.

Macerich Co(MAC) last announced its earnings results on Feb 6, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $272.000M. Analysts had an estimated revenue of $277.440M. Earnings per share were $1.17. Analysts had estimated an EPS of $0.34.

Several Insider Transactions has been reported to the SEC. On Jan 19, 2017, Hern Thomas E O (Senior EVP, Treasurer & CFO) sold 5,000 shares at $70.00 per share price.Also, On Jan 4, 2017, Robert D Perlmutter (Senior EVP and COO) sold 1,500 shares at $70.79 per share price.On Sep 23, 2016, Randy L Brant (EVP, Real Estate) sold 24,250 shares at $83.10 per share price, according to the Form-4 filing with the securities and exchange commission.

The Macerich Company is a self-managed and self-administered real estate investment trust (REIT). The Company is engaged in the acquisition ownership development redevelopment management and leasing of regional and community/power shopping centers located throughout the United States. The Company through its partnership and ownership interests in the Macerich Partnership L.P. has an ownership interest in 51 regional shopping centers and eight community/power shopping centers. These 59 regional and community/power shopping centers (which include any related office space) consist of approximately 55 million square feet of gross leasable area (GLA). The Centers primarily included 194 Anchors totaling approximately 28 million square feet of GLA and approximately 6000 Mall Stores and Freestanding Stores totaling approximately 26 million square feet of GLA.

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