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UPDATE: Imperial Capital Initiates The Macerich Company at In-Line on Valuation

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Imperial Capital initiated coverage on The Macerich Company (NYSE: MAC) with a In-line rating and a $60.00 price target.

Imperial Capital commented, "MAC is one of the larger owners of upper end retail malls in the U.S. The company owns an interest in some well-known retail properties, including Tysons Corner, Virginia; Queens Center, New York, and Santa Monica Place in Los Angeles. Malls have outperformed in 2012, while MAC's stock has performed consistently with the REIT sector (as measured by SNL U.S. REIT Equity) We expect discretionary spending will be under pressure in 2013 and this might curb demand for some physical retail space. We regard MAC's valuation as being broadly consistent with its peers and its common stock as being fairly valued."

The Macerich Company closed at $58.02 on Monday.

Latest Ratings for MAC

DateFirmActionFromTo
Apr 2016Mizuho SecuritiesInitiates Coverage onNeutral
Apr 2016Boenning & ScattergoodDowngradesOutperformNeutral
Mar 2016Bank of AmericaDowngradesBuyNeutral

View More Analyst Ratings for MAC
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Posted-In: imperial capitalAnalyst Color Initiation Intraday Update Analyst Ratings

 

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