In a report released today, Richard Hill from Morgan Stanley downgraded Macerich (MAC) to Sell, with a price target of $45. The company’s shares closed yesterday at $48.94, close to its 52-week low of $48.16.
According to TipRanks.com, Hill is a 2-star analyst with an average return of 0.0% and a 53.3% success rate. Hill covers the Financial sector, focusing on stocks such as Regency Centers, Taubman Centers, and American Homes.
Macerich has an analyst consensus of Moderate Buy, with a price target consensus of $58.33.
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Macerich’s market cap is currently $6.91B and has a P/E ratio of 91.84. The company has a Price to Book ratio of 2.27.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative 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.
