In a report issued on February 11, Omotayo Okusanya from Jefferies reiterated a Hold rating on Macerich (MAC), with a price target of $46. The company’s shares opened today at $43.86, close to its 52-week low of $40.90.
According to TipRanks.com, Okusanya is a 5-star analyst with an average return of 7.8% and a 62.8% success rate. Okusanya covers the Financial sector, focusing on stocks such as Apartment Investment & Management, National Storage Affiliates Trust, and Retail Properties of America Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Macerich with a $49.55 average price target, representing a 13.0% upside. In a report issued on February 8, Wells Fargo also downgraded the stock to Hold with a $43 price target.
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Macerich’s market cap is currently $6.19B and has a P/E ratio of 104.43. The company has a Price to Book ratio of 2.10.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is neutral on the stock.
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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.
