Stock of The Day: What Will Happen to Macerich Co Next? The Stock Just Declined A Lot

Stock of The Day: What Will Happen to Macerich Co Next? The Stock Just Declined A Lot

The stock of Macerich Co (NYSE:MAC) is a huge mover today! The stock decreased 2.53% or $1.98 on October 5, hitting $76.3. Macerich Co (NYSE:MAC) has declined 2.75% since March 2, 2016 and is downtrending. It has underperformed by 11.00% the S&P500.
The move comes after 5 months negative chart setup for the $11.01B company. It was reported on Oct, 6 by Barchart.com. We have $70.20 PT which if reached, will make NYSE:MAC worth $880.80M less.

Analysts await Macerich Co (NYSE:MAC) to report earnings on October, 25. They expect $1.04 EPS, up 2.97% or $0.03 from last year’s $1.01 per share. MAC’s profit will be $150.07 million for 18.34 P/E if the $1.04 EPS becomes a reality. After $1.02 actual EPS reported by Macerich Co for the previous quarter, Wall Street now forecasts 1.96% EPS growth.

Macerich Co (NYSE:MAC) Ratings Coverage

Out of 9 analysts covering The Macerich Company (NYSE:MAC), 3 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 33% are positive. The Macerich Company has been the topic of 21 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Boenning & Scattergood given on Wednesday, April 6. The firm has “Neutral” rating by Bank of America given on Monday, March 28. Deutsche Bank maintained Macerich Co (NYSE:MAC) on Monday, March 21 with “Hold” rating. The firm has “Buy” rating by Bank of America given on Tuesday, January 12. The rating was reinitiated by Credit Suisse with “Underperform” on Wednesday, March 16. Zacks upgraded Macerich Co (NYSE:MAC) rating on Thursday, September 17. Zacks has “Buy” rating and $85 price target. Canaccord Genuity initiated it with “Hold” rating and $78 target price in Wednesday, July 22 report. BTIG Research initiated Macerich Co (NYSE:MAC) rating on Thursday, August 25. BTIG Research has “Buy” rating and $97 price target. Evercore maintained it with “Hold” rating and $81 target price in Tuesday, September 8 report. The stock of Macerich Co (NYSE:MAC) earned “Hold” rating by Deutsche Bank on Tuesday, July 21.

According to Zacks Investment Research, “MACERICH CO. is a self-administered, self-managed real estate investment trust which is engaged in the acquisition, ownership, redevelopment, management and leasing of regional shopping centers located throughout the United States.”

Insitutional Activity: The institutional sentiment decreased to 0.84 in 2016 Q2. Its down 0.06, from 0.9 in 2016Q1. The ratio worsened, as 26 funds sold all Macerich Co shares owned while 136 reduced positions. 36 funds bought stakes while 100 increased positions. They now own 134.93 million shares or 5.87% less from 143.34 million shares in 2016Q1.
Moreover, Hightower Advsr Lc has 0.07% invested in Macerich Co (NYSE:MAC) for 64,739 shares. Pensionfund Dsm Netherlands holds 0.37% of its portfolio in Macerich Co (NYSE:MAC) for 32,007 shares. Moreover, Dnb Asset Mgmt As has 0% invested in Macerich Co (NYSE:MAC) for 10,595 shares. Exxonmobil Investment Mngmt Inc Tx has invested 0.06% of its portfolio in Macerich Co (NYSE:MAC). Macquarie Grp Inc Ltd owns 68,830 shares or 0.01% of their US portfolio. Aqr Capital Mngmt Limited Liability Company last reported 82,440 shares in the company. Wfg Advsrs Lp has 0.01% invested in the company for 350 shares. Moreover, Amer Assets Mgmt Ltd Liability Com has 0.2% invested in Macerich Co (NYSE:MAC) for 9,842 shares. Checchi Capital Advisers Limited Liability Co holds 0.02% or 1,973 shares in its portfolio. Kemper Master Retirement Trust has 5,460 shares for 0.29% of their US portfolio. Moreover, Independent Order Of Foresters has 0.93% invested in Macerich Co (NYSE:MAC) for 14,734 shares. Moreover, Blackrock Advsr Lc has 0.01% invested in Macerich Co (NYSE:MAC) for 145,153 shares. Strs Ohio holds 0.09% or 249,137 shares in its portfolio. The Minnesota-based Thrivent Fin For Lutherans has invested 0.02% in Macerich Co (NYSE:MAC). Cornerstone Real Estate Advisers Ltd holds 5% of its portfolio in Macerich Co (NYSE:MAC) for 177,396 shares.

Insider Transactions: Since April 15, 2016, the stock had 0 insider buys, and 10 insider sales for $3.91 million net activity. On Friday, April 15 the insider O HERN THOMAS E sold $394,250. $128,240 worth of Macerich Co (NYSE:MAC) was sold by PERLMUTTER ROBERT D on Friday, July 1. 24,250 shares with value of $2.02M were sold by Brant Randy L on Friday, September 23.

More notable recent Macerich Co (NYSE:MAC) news were published by: Forbes.com which released: “Macerich is Now Oversold (MAC)” on October 05, 2016, also Nytimes.com with their article: “Simon Property Withdraws Offer for Mall Rival Macerich” published on April 01, 2015, Wsj.com published: “Macerich Rejects Unsolicited Bid From Rival Mall Owner Simon Property” on March 17, 2015. More interesting news about Macerich Co (NYSE:MAC) were released by: Nytimes.com and their article: “Mall Owner Simon Property Bids for Rival Macerich to Aim at High-End Shoppers” published on March 09, 2015 as well as Latimes.com‘s news article titled: “Simon takes its takeover case to Macerich shareholders” with publication date: March 10, 2015.

MAC Company Profile

The Macerich Company, incorporated on September 9, 1993, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. The Firm owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers. It specializes in retail properties in many of the country’s populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor.

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