Compass Point analyst Floris van Dijkum reiterated a Buy rating on Macerich (MAC – Research Report) today and set a price target of $18.00. The company’s shares closed yesterday at $13.76.
van Dijkum covers the Real Estate sector, focusing on stocks such as Pebblebrook Hotel, Macerich, and Acadia Realty. According to TipRanks, van Dijkum has an average return of 3.4% and a 48.57% success rate on recommended stocks.
Macerich has an analyst consensus of Hold, with a price target consensus of $16.57.
Based on Macerich’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $238.69 million and a net profit of $62.18 million. In comparison, last year the company earned a revenue of $228.23 million and had a net profit of $1.69 million
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MAC in relation to earlier this year.
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Macerich (MAC) Company Description:
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.
