Macerich Co is a leading real estate investment trust (REIT) that focuses on the ownership, management, and development of high-quality retail properties across the United States
The company specializes in creating vibrant shopping destinations that enhance the consumer experience, often incorporating a mix of retail, dining, and entertainment options. Macerich is committed to sustainability and community engagement, actively working to revitalize underserved areas and adapt its portfolio to the evolving preferences of shoppers. With a strategic approach to property management and development, Macerich aims to drive long-term value for its stakeholders while fostering dynamic retail environments.
As I have previously discussed, I recently attended REITweek, the largest real estate investment trust event of the year. And I have to say, I’m cautiously optimistic about commercial real estate. Here is a look at some key themes from the event.
Macerich Co (NYSEMAC) downgraded & reduced price target by Piper Sandler. Reported Q1 sales of $208.783M & FFO of $0.33. New CEO appointed & withdrew FY24 guidance. Analyst skeptical of turnaround strategy, lowers FFO estimates for FY24 & FY25.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
