Macerich Stock (NYSE:MAC), Trade Ideas

Macerich

The Macerich Company is an S&P 500 company that invests in premium mall assets. The company owns 27 regional malls in its consolidated portfolio and 16 regional malls in its unconsolidated portfolio along with three power centers and seven other real estate assets. The company's total portfolio has 46.3 million square feet of gross leasable area and averaged $836 sales per square foot over the 12 months ended in December 2023.

Citibank

REIT

Real Estate

AMZN

EPRT

Citigroup Upgrades Six REITs In One Morning

News

Price Target

Small Cap

Markets

Analyst Ratings

Trading Ideas

LULU

NKTX

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.

FedEx To Rally Over 32%? Here Are 10 Top Analyst Forecasts For Friday

Short Ideas

Insider Trades

Pre-Market Outlook

SKYW

The Nasdaq 100 closed higher by around 1% on Monday. Investors, meanwhile, focused on some notable insider trades.

Electronic Arts, Booz Allen Hamilton And 2 Other Stocks Insiders Are Selling

Macerich Co

Moringa Acquisition Corp - Class A Ordinary Shares

Moringa Acquisition Corp

MACE SECURITY INTL INC by Mace Security International, Inc.

Mace Security International Inc

Merrimack Pharmaceuticals, Inc. - Common Stock

Merrimack Pharmaceuticals Inc

THEMAC RESOURCES GRP LTD by Themac Resources Group Ltd.

Themac Resources Group Ltd

MODIV ACQUISITION CORP.

Machten Inc

Truist Securities analyst Ki Bin Kim reiterates Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) with a Hold and maintains $16 price target.

Reiteration

Truist Securities Reiterates Hold on Macerich, Maintains $16 Price Target

The Federal Reserve's reassertion this week that despite recent gains in the consumer price index (CPI) and producer price index (PPI), it still envisions three rate cuts coming in 2024, sparking a rally in real estate investment trusts (REITs). On March 22, three analysts from Citigroup kept that enthusiasm going by upgrading a half dozen REITs and raising price targets on all six.
Take a look at the REITs receiving upgrades this week, along with some positives that each REIT has going for it. &nbsp;
Macerich Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) is a Santa Monica, California-based retail REIT that specializes in the acquisition, leasing and management of 44 regional town center malls across the U.S. Macerich was founded in 1972 and had its initial public offering (IPO) in 1994.
Macerich has recently developed new leadership. On March 1, Jackson Hsieh was appointed president and CEO of the company. On March 12, Hsieh and other Macerich senior executives celebrated 30 years of being in business as a public company by ringing the opening bell at the New York Stock Exchange.
On March 22, Citigroup analyst Nicholas Joseph upgraded Macerich from Sell to Neutral and raised the price target from $8 to $17.
Omega Healthcare Investors Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OHI#NYSE">OHI</a>) is a Hunt Valley, Maryland-based triple-net equity healthcare REIT that provides financing, capital and leasing to 69 operators among 862 senior housing, skilled nursing and assisted living facilities across 42 states throughout the U.S. and the United Kingdom. Omega Healthcare Investors has no part in the day-to-day management of these facilities, which are run by the operators.&nbsp;
On March 22, Citigroup analyst Nicholas Joseph upgraded Omega Healthcare from Neutral to Buy and raised the price target from $32 to $35.
On Feb. 26, Wells Fargo analyst Connor Siversky also upgraded Omega Healthcare Investors, from Equal-Weight to Overweight and raised the price target from $31 to $35.
Park Hotels &amp; Resorts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PK#NYSE">PK</a>) is a Tysons, Virginia-based hotel REIT with 43 hotels and resorts with over 26,000 rooms, located in prime U.S. markets from Hawaii to Massachusetts that have high barriers to entry. Park Hotels is a small-cap stock with a market cap of $3.737 billion. Its occupancy rate in the fourth quarter of 2023 was 71%, up from 69.5% in Q4 2022.
Park was established as an independent company in January 2017 following its spinoff from Hilton. In September 2019, Park acquired Chesapeake Lodging Trust to add premium-brand hotels and resorts in prime markets such as Miami, Boston, Los Angeles and San Francisco.
On March 22, Citigroup analyst Smedes Rose upgraded Park Hotels &amp; Resorts from Neutral to Buy and raised the price target from $14 to $20.
Several other analysts have recently come out with positive ratings on Park Hotels. Truist Securities has a Buy and $21 price target and Deutsche Bank has a Buy rating and a $24 price target on Park.
Tanger Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), formerly called Tanger Factory Outlet Centers Inc., is a Greensboro, North Carolina-based retail REIT that owns 40 indoor shopping centers and outdoor factory outlet malls with 15.6 million square feet and over 3,000 stores across 20 states and in Canada. Tanger Factory Outlet Centers was founded in 1981 and had its IPO in May 1993. Tanger's occupancy rate at the end of 2023 was 97.3%.&nbsp;
Tanger was the second-leading REIT overall in 2023, with a total return of 63.58%, overcoming the popular idea that in-store retail shopping is in decline because of the popularity of Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and other online retailers. Its total return so far in 2024 is 5.09%.
On Feb. 15, Tanger reported excellent fourth-quarter operating results. Funds from operations (FFO) of $0.52 beat the estimate of $0.50. Revenue of $127.48 million beat the estimate of $119.04 million and was 9.46% above revenue from the fourth quarter of 2022 of $116.46 million. Additionally, full-year core FFO was announced in a range from $2.01-$2.09 per share, with a midpoint above the analyst consensus estimate of $2.03 per share.
On March 22, Citigroup analyst Michael Bilerman upgraded Tanger from Neutral to Buy and raised the price target from $30 to $33. Tanger continues to perform well and the Citigroup upgrade should help the share price as well. &nbsp;
Essential Properties Realty Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPRT#NYSE">EPRT</a>) is a Princeton, New Jersey-based diversified REIT that owns and manages single-tenant properties with net leases for service-oriented and experience-based businesses. Essential Properties was founded in 2016 and has a market cap of $4.4 billion. It has a portfolio of 1,873 properties across 48 states. Its properties, which have a 99.8% occupancy rate, have a weighted average lease term (WALT) of 14 years.
On March 22, Citigroup analyst Nicholas Joseph upgraded Essential Properties from Neutral to Buy and raised the price target from $25 to $28.50. On March 13, B. Riley Securities also reiterated a Buy on Essential Properties and raised its price target from $27.50 to $29 per&nbsp;
Total occupancy and rent collection are extremely important aspects of a REIT, and from that standpoint, it's easy to see why analysts have upgraded Essential Properties' ratings and price targets this month.
American Homes 4 Rent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMH#NYSE">AMH</a>) is a Calabasas, California-based residential REIT that purchases, develops, renovates and leases existing and new single-family homes as rental properties. American Homes 4 Rent was created in 2012 and in less than 12 years has built a portfolio of 58,470 single-family units across 21 states. Its largest concentration of homes is in the Southeastern U.S., where population growth has been explosive. Its IPO was in July 2013.
As of the fourth quarter of last year, American Homes 4 Rent had a same-home average occupied days of 96.2%.&nbsp;
On March 22, Citigroup analyst Nicholas Joseph upgraded American Homes 4 Rent from Neutral to Buy and raised the price target from $37 to $41.
Other analysts have also supported American Homes recently. On March 20, Mizuho analyst Haendel St. Juste maintained a Buy on American Homes and raised the price target from $37 to $39. On March 12, JMP Securities analyst Aaron Hecht maintained American Homes with an Outperform and raised the price target from $38 to $41.
<h2 class="wp-block-heading">Explore Opportunities Beyond REITs</h2>
While publicly traded REITs offer a convenient way to invest in real estate, we believe that some of the most compelling opportunities lie in the private market. Benzinga's <a href="https://www.benzinga.com/go/real-estate-screener">real estate offering screener</a> features a curated selection of private market real estate offerings from trusted platforms with a track record of strong returns.
Whether you&#8217;re an accredited or non-accredited investor, you can filter opportunities based on your investment criteria, including minimum investment, property type and target return. These offerings provide a unique chance to diversify your portfolio and tap into potential high-yield investments that are not available on public exchanges.
<a href="https://www.benzinga.com/go/real-estate-screener">Browse offerings</a>
Latest Private Market Offerings
<ul>
<li><a href="https://www.benzinga.com/alternative-investments/listing/qoz-fund-iii">QOZ Fund III</a>: Realize massive tax benefits investing in a portfolio of multifamily development projects with long-term growth potential located in designated Opportunity Zones.</li>
<li><a href="https://www.benzinga.com/alternative-investments/listing/gold-leaf-farming-lp">Golden Leaf Farming LP</a>: Top-tier almond and pistachio farms with a target cash yield of 13.8%</li>
</ul>
Discover these and other exclusive real estate investment opportunities on Benzinga's offering screener. Dive into the private market and uncover the potential for substantial returns beyond the public REIT market.

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 <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Wedbush boosted the price target for Chipotle Mexican Grill, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmg#NYSE">CMG</a>) from $2,400 to $2,850. Wedbush analyst Nick Setyan maintained a Neutral rating. Chipotle shares gained 0.3% to close at $2,904.98 on Thursday. <a href="https://www.benzinga.com/quote/CMG/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham cut the price target for Lululemon Athletica Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lulu#NASDAQ">LULU</a>) from $525 to $500. Needham analyst Anna Andreeva maintained a Buy rating. Lululemon shares gained 2.1% to close at $478.84 on Thursday. <a href="https://www.benzinga.com/quote/LULU/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS slashed NIKE, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nke#NYSE">NKE</a>) price target from $138 to $125. UBS analyst Jay Sole maintained a Buy rating. NIKE shares rose 0.6% to close at $100.82 on Thursday. <a href="https://www.benzinga.com/quote/NKE/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays cut the price target for Li Auto Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/li#NASDAQ">LI</a>) from $56 to $39. Barclays analyst Jiong Shao maintained an Overweight rating. Li Auto shares dipped 7.5% to close at $31.53 on Thursday. <a href="https://www.benzinga.com/quote/LI/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>HC Wainwright &amp; Co. lowered Nkarta, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nktx#NASDAQ">NKTX</a>) price target from $22 to $20. HC Wainwright &amp; Co. analyst Emily Bodnar maintained a Buy rating. Nkarta shares rose 1.5% to close at $12.98 on Thursday. <a href="https://www.benzinga.com/quote/NKTX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup boosted the price target for The Macerich Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mac#NYSE">MAC</a>) from $8 to $17. Citigroup analyst Nicholas Joseph upgraded the stock from Sell to Neutral. Macerich shares gained 1.3% to close at $17.24 on Thursday. <a href="https://www.benzinga.com/quote/MAC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Compass Point increased U.S. Bancorp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usb#NYSE">USB</a>) price target from $46 to $49. Compass Point analyst David Rochester upgraded the stock from Neutral to Buy. U.S. Bancorp shares gained 2.3% to close at $44.45 on Thursday. <a href="https://www.benzinga.com/quote/USB/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays slashed FactSet Research Systems Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fds#NYSE">FDS</a>) price target from $480 to $460. Barclays analyst Manav Patnaik downgraded the stock from Overweight to Equal-Weight. FactSet Research shares fell 7.6% to close at $450.66 on Thursday. <a href="https://www.benzinga.com/quote/FDS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs raised Worthington Enterprises, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wor#NYSE">WOR</a>) price target from $50 to $56. Goldman Sachs analyst Susan Maklari maintained a Sell rating. Worthington shares gained 5.2% to close at $66.98 on Thursday. <a href="https://www.benzinga.com/quote/WOR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays raised FedEx Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>) price target from $310 to $350. Barclays analyst Brandon Oglenski maintained an Overweight rating. FedEx shares rose 1.9% to close at $264.85 on Thursday. <a href="https://www.benzinga.com/quote/FDX/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/03/37885620/fedex-nike-and-3-stocks-to-watch-heading-into-friday"> FedEx, Nike And 3 Stocks To Watch Heading Into Friday </a>

Citigroup analyst Nicholas Joseph upgrades Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) from Sell to Neutral and raises the price target from $8 to $17.

Upgrades

Citigroup Upgrades Macerich to Neutral, Raises Price Target to $17

The Nasdaq 100 closed higher by around 1% on Monday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company&rsquo;s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Electronic Arts </h3>
<ul>
<li>The Trade: Electronic Arts Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ea#NASDAQ">EA</a>) Chief Legal Officer Jacob J. Schatz <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 1,000 shares </a> at an average price of $134.45. The insider received around $134,450 from selling those shares.</li>
<li>What&rsquo;s Happening: On Feb. 28, Electronic Arts disclosed plans to lay off 5% of its workforce, approximately 670 employees, as part of a broader strategy to consolidate office space and halt development on certain video games.</li>
<li>What Electronic Arts Does: EA is one of the world&#39;s largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>SkyWest</h3>
<ul>
<li>The Trade: SkyWest, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyw#NASDAQ">SKYW</a>) Director James L Welch <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 2,000 shares </a> at an average price of $66.72. The insider received around $133,430 from selling those shares.</li>
<li>What&rsquo;s Happening: On Feb. 1, SkyWest posted upbeat quarterly earnings.</li>
<li>What SkyWest Does: SkyWest Inc offers commercial air services in the United States, Canada, Mexico, and the Caribbean. Additionally, it leases aircraft to capable users to help generate revenue.</li>
</ul>
<h3>Macerich </h3>
<ul>
<li>The Trade: The Macerich Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mac#NYSE">MAC</a>) Director Hern Thomas E O <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 7,964 shares </a> at an average price of $16.39. The insider received around $130,530 from selling those shares.</li>
<li>What&rsquo;s Happening: On Feb. 7, Macerich posted in-line quarterly earnings.</li>
<li>What Macerich Does: The Macerich Company is an S&amp;P 500 company that invests in premium mall assets.</li>
</ul>
<h3>Booz Allen Hamilton </h3>
<ul>
<li>The Trade: Booz Allen Hamilton Holding Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bah#NYSE">BAH</a>) EVP &amp; Chief Financial Officer Matthew Calderone <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 3,000 shares </a> at an average price of $145.36. The insider received around $436,080 from selling those shares.</li>
<li>What&rsquo;s Happening: On Jan. 26, Booz Allen Hamilton reported better-than-expected third-quarter financial results, increased its quarterly dividend and raised FY24 guidance.</li>
<li>What Booz Allen Hamilton Does: Booz Allen Hamilton Holding Corp is a provider of management consulting services to the U.S. government. Other services offered include technology, such as cloud computing and cybersecurity consulting, and engineering consulting.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/03/37811847/core-main-gears-up-for-q4-print-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-cal"> Core &amp; Main Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call </a>

The Nasdaq 100 closed higher by around 3% on Thursday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company&rsquo;s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Macerich </h3>
<ul>
<li>The Trade: The Macerich Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mac#NYSE">MAC</a>) President Edward C Coppola <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 50,000 shares </a> at an average price of $17.20. The insider received over $860,045 from selling those shares.</li>
<li>What&rsquo;s Happening: On Feb. 7, Macerich posted in-line quarterly earnings.</li>
<li>What Macerich Does: The Macerich Company is an S&amp;P 500 company that invests in premium mall assets. The company owns 28 regional malls in its consolidated portfolio and 16 regional malls in its unconsolidated portfolio along with four power centers and seven other real estate assets.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Flex</h3>
<ul>
<li>The Trade: Flex Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flex#NASDAQ">FLEX</a>) EVP, General Counsel David Scott Offer <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 150,000 shares </a> at an average price of $27.46. The insider received around $4.12 million from selling those shares.</li>
<li>What&rsquo;s Happening: On Jan. 31, Flex reported better-than-expected third-quarter financial results.</li>
<li>What Flex Does: Flex Ltd is a contract manufacturing company providing comprehensive electronics design, manufacturing, and product management services to global electronics and technology companies.</li>
</ul>
<h3>eBay </h3>
<ul>
<li>The Trade: eBay Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ebay#NASDAQ">EBAY</a>) SVP, Chief Product Officer Edward O Garcia <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 1,165 shares </a> at an average price of $43.03. The insider received around $50,130 from selling those shares.</li>
<li>What&rsquo;s Happening: On Feb. 15, eBay announced the appointment of Zane Rowe to its Board of Directors.</li>
<li>What eBay Does: EBay operates one of the largest e-commerce marketplaces in the world, with $74 billion in 2022 gross merchandise volume, or GMV, rendering the firm a top 10 global e-commerce company.</li>
</ul>
<h3>Alphabet </h3>
<ul>
<li>The Trade: Alphabet Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) CEO Sundar Pichai <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 22,500 shares </a> at an average price of $143.08. The insider received around $3.2 million from selling those shares.</li>
<li>What&rsquo;s Happening: Alphabet&rsquo;s Google has put a temporary halt on its Gemini AI&rsquo;s ability to generate images of people after inaccuracies in the representation of historical figures were discovered.</li>
<li>What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads. Google&#39;s other revenue is from sales of apps and content on Google Play and YouTube, as well as cloud service fees and other licensing revenue.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/02/37279661/warner-bros-discovery-block-and-3-stocks-to-watch-heading-into-friday"> Warner Bros. Discovery, Block And 3 Stocks To Watch Heading Into Friday </a>

EBAY

FLEX

GOOG

GOOGL

eBay, Alphabet And 2 Other Stocks Insiders Are Selling

Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) reported quarterly earnings of $0.56 per share which met the analyst consensus estimate. The company reported quarterly sales of $238.69 million which beat the analyst consensus estimate of $224.53 million by 6.31 percent. This is a 4.58 percent increase over sales of $228.22 million the same period last year.

Earnings

Earnings Beats

Macerich Q4 2023 Adj GAAP EPS $0.56, Inline, Sales $238.69M Beat $224.53M Estimate

ACLS

ADNT

ALCO

APPS

ARCC

ASGN

ASND

AVXL

AZTA

BABA

BARK

BERY

BLBD

CDAY

CENT

CENTA

CFLT

CMRE

COTY

CRTO

CSGS

EEFT

ENTA

EQNR

FLNC

FLNG

FORM

FOXA

GEOS

GPRE

GPRO

HAIN

INTR

MCFT

MKSI

MPWR

MSGE

MTRX

NBIX

NOTV

NTGR

NVST

NWSA

OESX

ORLY

OSCR

PAHC

Earnings Scheduled For February 7, 2024

O&#39;Hern will serve as an advisor to the Company through June 30, 2024, to ensure a smooth transition.

Management

Macerich Names Jackson Hsieh To Become President And Chief Executive On March 1, 2024, Following Retirement Of Thomas O'Hern

Macerich Announced That Life Time Is Opening Outlet At Twenty Ninth Street In Central Boulder, Colorado Early Next Year

The year 2023 posed challenges for <a href="https://www.benzinga.com/alternative-investments/real-estate?investorType=All&amp;minimumInvestment%5B%5D=0,250000&amp;sortBy=Recommended">real estate</a> investment trusts (REITs), as seen in the Vanguard Real Estate Index Fund ETF Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>), which registered a modest 7% growth. This moderate performance seems more attributable to prevailing market attitudes rather than an indication of poor operational results, with many REITs showing impressive resilience in their profit margins. Here were the top-performing REITs in 2023.
<h2 class="wp-block-heading">Tanger Factory Outlet Centers</h2>
Tanger Factory Outlet Centers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), with its dividend yield of 3.8%, operates as an REIT specializing in outlet malls. Their strategy focuses on owning and managing outlet centers that offer consumers brand-name products at discounted prices. Located primarily in high-visibility areas near major highways, Tanger&#8217;s properties attract both local shoppers and tourists.&nbsp;
Tanger's tenant base is diverse, including various designer and name-brand manufacturers. In an era where value shopping is increasingly popular, Tanger&#8217;s focus on outlet centers positions it well to attract cost-conscious consumers, supporting its dividend prospects.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100"> Dara Khosrowshahi-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
</ul>
<h2 class="wp-block-heading">Macerich</h2>
Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>), offering a significant dividend yield of 4.3%, is an REIT that focuses on high-end retail properties, primarily in densely populated, affluent markets. Their portfolio includes several premier shopping centers and malls across the United States.&nbsp;
Macerich&#8217;s strategy involves not just leasing space but also actively managing these properties to ensure a premium shopping experience. This includes incorporating luxury retailers, high-quality dining options, and entertainment services. In a retail environment that&#8217;s shifting towards experiential shopping, Macerich&#8217;s emphasis on upscale, destination retail locations positions it to attract a steady flow of high-income shoppers, underpinning its dividend yield.
<h2 class="wp-block-heading">Whitestone REIT</h2>
Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>), with its dividend yield of 4%, focuses on neighborhood retail centers in fast-growing markets, primarily in Texas and Arizona. Whitestone&#8217;s properties often serve as community hubs, featuring a mix of local and national tenants, including grocery stores, restaurants, and service providers.&nbsp;
Whitestone's strategy is to invest in culturally diverse neighborhoods with high population growth, driving consistent foot traffic to their properties. Whitestone&#8217;s community-centric approach, combined with their focus on essential, everyday services, provides a stable tenant base and supports their dividend payouts.
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
<li>Collecting passive income from real estate just got a whole lot simpler. A new <a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100">real estate fund backed by Dara Khosrowshahi</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
</ul>
Image Credit: Shutterstock

Dividends

The Best Performing REITs of 2023: Mastering Dividends and Dominating the Market

With approximately 200 real estate investment trusts (<a href="https://www.benzinga.com/real-estate/reit">REITs</a>) on the market today, it's difficult for investors to choose which REITs to buy. Parameters such as longevity, dividend growth, dividend yield, payout ratios and price to funds from operations (P/FFO) are typically employed in making purchase decisions.
It's also important to look at relative strength, or how a stock's performance compares to its peers over a measure of time. Stocks that show strong relative strength signify institutional buying and are frequently performed over a long period. The strongest stocks of a sector are also likely to still be performing well over the months ahead.
The <a href="https://www.benzinga.com/money/retail-reits">retail REIT</a> subsector has anywhere from 21 to 30 stocks, depending on which source is used. In recent years, many retail REITs have diversified into other types of properties, but the main core of their business is still in retail establishments.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> Jeff Bezos-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Passive income investments are one of the most trusted methods for riding out a recession, so it's no surprise that people are turning to <a href="https://www.benzinga.com/real-estate/23/05/32554601/want-to-grow-your-wealth-passively-these-high-yield-real-estate-notes-might-be-your-holy-grail">high-yield real estate notes that pay a fixed 7.5% to 9%.</a></li>
</ul>
Take a look at the five retail sector stocks that have outperformed their peers over the past month, have a strong dividend yield and a history of dividend growth.
Alexander's Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALX#NYSE">ALX</a>) is a Paramus, New Jersey-based REIT that is externally managed by Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>), which also owns 33.1% of Alexander's stock. Alexanders has five large mixed-use retail properties in the New York City metropolitan area. For example, 731 Lexington Avenue is office and retail, and the Rego Center Complex includes retail properties and The Alexander apartment tower.
Alexander's pays a quarterly dividend of $4.50, which yields 8.24% on an annual basis.
From Dec. 8 to Jan. 8, Alexander's has had a total return of 15.56%, making it the top-performing retail REIT.
Macerich Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) is a Santa Monica, California-based retail REIT that specializes in the acquisition, leasing and management of 48 million square feet in 44 regional town center malls all across the U.S.
On Dec. 20, Piper Sandler analyst Alexander Goldfarb maintained a Neutral position on Macerich but raised the price target 41.66% from $12 to $17.&nbsp;
Macerich pays a quarterly dividend of $0.17 per share, which on an annual basis yields 4.55%. It was forced to cut its dividend from $0.75 to $0.10 in April 2020 when COVID-19 was rampant, but since then has increased the dividend by 70%.
Over the past month, the total return for Macerich was 11.65%. It's been a poor performer overall since November 2021, but the recent returns suggest that the turnaround will have some legs well into 2024.
Realty Income Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/O#NYSE">O</a>) is a San Diego-based, triple-net-lease REIT with over 13,250 properties around the world. The Monthly Dividend Company, as it's widely known, is a member of the S&amp;P 500 and an S&amp;P 500 Dividend Aristocrat. The occupancy rate for its portfolio is 98.8%.
On Dec. 12, Realty Income announced an increase in its monthly cash dividend from $0.256 to $0.2565 per share. The new annualized dividend amount of $3.078 presently yields 5.31%. This was the 123rd dividend increase since 1994 and the 105th consecutive quarter of dividend increases.
Over the past five years, the dividend growth is 22.1%, but the consistent monthly dividends help investors keep up with inflation.
Realty Income became much more diversified in 2023, purchasing a 21.9% interest in The Bellagio Las Vegas. It also added to its single-tenant retail properties by announcing it will acquire Spirit Realty Capital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRC#NYSE">SRC</a>), with an expected closing in the first quarter of this year.
Over the past month, Realty Income has had a total return of 8.02%.
Agree Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>) is a Bloomfield Hills, Michigan-based triple-net-lease REIT that focuses on retail properties. Its portfolio includes 2,135 owned and operated properties totaling 44 million square feet across 49 states. The majority of its tenants — 69% — are investment grade, including well-known names like Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), Best Buy Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) and Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>).
Agree Realty was founded as Agree Development Co. in 1971 and went public as a REIT on the New York Stock Exchange in 1994 as Agree Realty Corp.
In its latest quarterly earnings report on Oct. 24, the third-quarter FFO of $1 beat the estimates of $0.99 and was above FFO of $0.96 in the third quarter of 2022. Revenue of $136.81 million beat the estimates of $134.97 million and was 24.3% above revenue of $110.07 million in the third quarter of 2022.
Analysts are recently somewhat mixed on Agree Realty. On Dec. 11, Mizuho analyst Haendel St. Juste downgraded Agree Realty from Buy to Neutral and lowered the price target from $67 to $61. But on Jan. 4, RBC Capital Markets analyst Brad Heffern maintained an Outperform rating on Agree Realty and raised the price target from $66 to $67.
Like Realty Income, Agree Realty pays a monthly dividend, making it a boon for income investors to pay regular monthly bills. In January 2021, it began paying monthly dividends of $0.21 per share. Since then, the dividend has grown by 17.06%, to $0.247 per share. The annual dividend yield is presently 4.69%.
Agree insiders were active purchasers of company stock in the fourth quarter of 2023. Agree Realty's total return over the past month is 7.64%.
NetSTREIT Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTST#NYSE">NTST</a>) is a Dallas-based triple-net-lease retail REIT with 547 properties across 45 states. Its single-tenant net leases cover 26 diverse industries. About 68% of its 85 tenants are investment grade, including Walgreens Boots Alliance Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NYSE">WBA</a>), Lowes Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) and Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>).&nbsp;&nbsp;
In NetSTREIT's third-quarter operating results, FFO of $0.31 per share beat the analyst estimate of $0.29 and its FFO of $0.30 per share in the third quarter of 2022. Revenue of $33.96 million beat the estimate of $32.2 million and was 35.8% higher than revenue of $25.01 million in the third quarter of 2022. Fourth-quarter earnings will be announced on Feb. 21.
On Jan. 2, Wolfe Research analyst Andrew Rosivach upgraded NetSTREIT from Peer Perform to Outperform and announced a price target of $22. Its most recent closing price was $17.83.
On Jan. 8, NetSTREIT provided guidance on 2024 adjusted FFO of $1.24-$1.28 per share.
NetSTREIT has increased its quarterly dividend from $0.10 per share in September 2020 to the most recent payout of $0.205 per share, yielding 4.6% on an annual basis.
NetSTREIT's total return over the past month is 7.28%.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Elon Musk has reportedly bought 6,000 acres of land just outside of Austin.<a href="https://www.benzinga.com/real-estate/23/05/32537165/elon-musk-is-bullish-on-austin-heres-how-to-invest-in-the-citys-growth-before-he-floods-it-with-new"> Here&#8217;s how to invest in the city&#8217;s growth</a> before he floods it with new tech workers.</li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/3-high-yield-investments-boost-income">Here are 3 high-yield investments to add significant income to your portfolio</a>.</li>
<li>Collecting passive income from real estate just got a whole lot simpler. A new<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> real estate fund backed by Jeff Bezos</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
</ul>

NTST

5 Retail REITs With The Best Relative Strength

Goldman Sachs analyst Caitlin Burrows maintains Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) with a Sell and raises the price target from $9 to $13.

Goldman Sachs Maintains Sell on Macerich, Raises Price Target to $13

After a difficult year, December was an incredible month for investors of real estate investment trusts (<a href="https://www.benzinga.com/real-estate/reit">REITs</a>). Sparked by the Federal Reserve's third consecutive pause on interest rate hikes and a prediction that they'll deliver three rate cuts in 2024, REITs blasted higher from undervalued positions.
Office REITs were the best-performing subsector, with a dozen REITs surging over 20% higher. Seven mortgage REITs (mREITs) also enjoyed a month of 20% or more gains.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> Jeff Bezos-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/3-high-yield-investments-boost-income">Here are 3 high-yield investments to add significant income to your portfolio</a>.</li>
</ul>
Take a look at the five best-performing REITs above $5 for December, based on closing prices on Dec. 27.
Hudson Pacific Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPP#NYSE">HPP</a>) is a Los Angeles-based office REIT with 48 office properties and five motion picture studio properties emphasizing centers of innovation for media and tech companies in California, Washington and Vancouver, British Columbia. Its present office occupancy rate is 87%.
Hudson Pacific Properties was founded in 2006 and went public in 2010.&nbsp;&nbsp;
On Nov. 30, Goldman Sachs analyst Caitlin Burrows upgraded Hudson Pacific Properties from Sell to Neutral and announced a $6.25 price target. Hudson has far surpassed that, with a recent close at $9.02. The analyst noted that several key negative catalysts are now behind Hudson Pacific, including the Hollywood strikes, and that the risk/reward now appears to be more on the reward side.
On Dec. 4, Hudson Pacific sold a Silicon Valley land parcel and a partial tranche of a loan secured by its Hollywood media portfolio for gross proceeds of $189.3 million. Hudson said it will use the net proceeds to repay debt on its unsecured revolving credit facility.
Hudson Pacific had a total return of 53.66% in December to lead all REITs. While that's remarkable, even more outstanding is that Hudson was also one of the leading REITs in November with a gain of 31%.
Macerich Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) is a Santa Monica, California-based retail REIT that specializes in the acquisition, leasing and management of 48 million square feet in 44 regional town center malls all across the U.S.
On Dec. 20, Piper Sandler analyst Alexander Goldfarb maintained a Neutral position on Macerich but raised the price target 41.66% from $12 to $17.&nbsp;
Macerich was the second-best-performing REIT in December, with a total return of 36.88%. However, it's been one of the worst-performing REITs since the start of 2020 and had a total return of negative 44.00% before December. Whether December was the start of a turnaround that will continue into 2024 or just a bounce from a deeply oversold position remains to be seen.
Peakstone Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKST#NYSE">PKST</a>) is an El Segundo, California-based diversified REIT that owns and operates single-tenant office and industrial properties. Peakstone Realty's portfolio has 19 million square feet of space across 24 states in high-growth markets. Its occupancy rate is 95%. Peakstone's initial public offering (IPO) was on April 13. Shares have been volatile since then, falling from a high of $45.88 in April to $12.29 by the end of October and back up to a recent close of $21.11.
On Dec. 25, Zacks Investment Research Inc. upgraded Peakstone Realty from Neutral to Outperform.
Despite not much other news, Peakstone benefited from a good month for office and industrial REITs, securing a total return of 32.27% in December, third best among all REITs.
Acres Commercial Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACR#NYSE">ACR</a>) is a Uniondale, New York-based mREIT specializing in originating, holding and managing mortgage loans and other debt instruments for commercial real estate.
One event that propelled Acres Commercial Realty higher in December was its announcement on Nov. 30 that its board has reauthorized an additional $10 million share repurchase program as well as continuing with the preexisting program of $4.1 million of common stock.
Acres Commercial saw some insider purchases In October, when Eagle Point Credit Management, a 10% owner at Acres Commercial purchased another 7,985 shares of Acres common stock for $169,321.
Acres had a total return of 30.09% in December.
Office Properties Income Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NASDAQ">OPI</a>) is a Newton, Massachusetts-based office REIT with 154 properties covering 20.7 million square feet. As of the third quarter, its occupancy rate was 89.9%. Office Properties is externally managed by the RMR Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMR#NASDAQ">RMR</a>).
In September, after opposition from shareholders, Office Properties Income Trust agreed to terminate its proposed merger with Diversified Healthcare Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DHC#NASDAQ">DHC</a>), another RMR Group-managed REIT, and that announcement has helped propel Office Properties higher ever since.
On Nov. 17, Office Properties announced that President and CEO Christopher Bilotto will take over as president and CEO of Diversified Healthcare Trust on Jan. 1. Yael Duffy will become president and chief operating officer of Office Properties on Jan. 1.
Office Properties had a total return of 29.75% in December, following another gain of 24.28% in November.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Elon Musk has reportedly bought 6,000 acres of land just outside of Austin.<a href="https://www.benzinga.com/real-estate/23/05/32537165/elon-musk-is-bullish-on-austin-heres-how-to-invest-in-the-citys-growth-before-he-floods-it-with-new"> Here&#8217;s how to invest in the city&#8217;s growth</a> before he floods it with new tech workers.</li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
<li>Collecting passive income from real estate just got a whole lot simpler. A new<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> real estate fund backed by Jeff Bezos</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
</ul>

PKST

The 5 Best-Performing REITs of December

Piper Sandler analyst Alexander Goldfarb maintains Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) with a Neutral and raises the price target from $12 to $17.

Piper Sandler Maintains Neutral on Macerich, Raises Price Target to $17

It's often said that staying in the market beats trying to time the market and when Wall Street has a day like Wednesday when the Federal Reserve said it may cut interest rates three times in 2024, it proves that point.
Real estate investment trust (REIT) investors were especially celebrating Wednesday after the Federal Open Market Committee (FOMC) meeting announcement because REITs, which had been bouncing back since late October, exploded with huge share price gains.
One question is whether REITs have become short-term overbought, and if so, should investors add to positions now or wait for a pullback? Another question: Should investors buy the REITs that have recently performed the best or favor the ones whose rally has not left them so overextended? The simple answer is to look for those stocks with the greatest relative strength.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Collecting passive income from real estate just got a whole lot simpler. A new<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> real estate fund backed by Jeff Bezos</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
<li>Miami&#8217;s housing market value has soared over 86% in the last two years and some investors found a simple strategy to profit from it. Here&#8217;s how you can do the same in these<a href="https://www.benzinga.com/money/4-high-growth-cities-invest-100-dollars"> four cities poised for massive growth.</a></li>
</ul>
Relative strength is an important concept when comparing stocks because it defines how the performance of a particular stock or sector compares to other similar stocks or other sectors. Stocks that appreciate more than others in up markets and pull back less than others during down days are said to have stronger relative strength. Those are the best stocks to buy until and unless the relative strength story changes.
Wednesday's huge rally in REITs showed that the greatest relative strength in the sector is in the office REITs. On Wednesday, eight of the 10 largest gains among all REITs priced $4 or more were office REITs. The five best-performing issues and their gains on Wednesday were:
Hudson Pacific Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPP#NYSE">HPP</a>) 11.74%
JBG Smith Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBGS#NYSE">JBGS</a>) &nbsp; &nbsp; &nbsp; 11.65%
SL Green Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) &nbsp; &nbsp; &nbsp; &nbsp; 10.93%
Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>)&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 10.77%
Boston Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BXP#NYSE">BXP</a>) &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 8.51%
One of the reasons that office REITs have performed so well recently, and especially after the latest Fed announcement, is because they're so far from the highs set before the beginning of 2022. Also, REITs need lower interest rates to borrow money for purchasing properties that will spin off higher capitalization rates or to refinance maturing debt in 2024 at lower rates than have been available over the past two years.
Lower inflation also reduces costs for those who drive to work and that has some influence over workers' motivation to return to offices rather than working from home. That could help stabilize office occupancy rates.
The only two non-office REITs that finished in the top 10 performers Wednesday were Hannon Armstrong Sustainable Infrastructure Capital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HASI#NYSE">HASI</a>), a mortgage REIT (mREIT) that loans money for green energy projects, and retail-REIT, Macerich Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>). Both REITs have been solid performers over the past four weeks, with Hannon Armstrong up 14.4% and Macerich up 18.53%.
One office REIT that had a small gain on Wednesday but was nowhere near the rest of the office sector was Equity Commonwealth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQC#NYSE">EQC</a>). It rose 0.83% and has gained 1.84% during the big REIT rally over the past four weeks. That's the perfect example of a stock with poor relative strength and shows why it's always best to buy the stocks with the strongest relative strength rather than the laggards.
By contrast, Hudson Pacific Properties, which was the best-performing REIT on Wednesday has also been a solid performer over the past four weeks, with a gain of 27.69%. Hudson Pacific, which has a small portion of its portfolio in Hollywood Studios, was hurt badly in 2022 by the Hollywood actors and screenwriters' strike. Once those strikes were settled, Hudson Pacific began to rally again.
Hudson Pacific closed yesterday at $8.09, and it's more than doubled since touching a low of $4.38 on Nov. 1. Hudson Pacific traded near $25 per share in March 2022 before the first of several Federal Reserve rate hikes, so it's still far from its previous highs. Most of the other office REITs are also well below the highs attained before 2022.
What should investors do now? If you have a long-term horizon, these office REITs can be purchased now, even if they've been somewhat overextended over the past six weeks. The dividend yields of all the REITs shown above, except for Macerich, are still between 5% and 11.5%.
More conservative investors may want to wait for a pullback before entering positions, but it's also possible that these REITs can move much higher before pulling back. Technical indicators like the 14-period relative strength index (RSI) and Stochastics Oscillator signal that these REITs are in overbought territory, but that doesn't mean they're finished with their ascension. Overbought simply means that the risk/reward ratio is beginning to move more toward the risk side, but stocks can remain overbought for quite a while and still move higher.
Money market accounts are still paying around 5%, so waiting and missing out on a few percentage points of appreciation might not be the worst thing. Another possibility is for investors to dollar cost average into their favorite REITs over the next month or two.
Fear of missing out (FOMO) is very real now, and many investors and institutions that have been avoiding REITs for a long time will be jumping back on the train. It takes a long time for institutional money to completely fund its positions, so it seems that REITs could perform far better over the next year than they have since 2021.
<h2 class="wp-block-heading">You Don't Want To Miss This Virtual Event</h2>
<a href="https://www.benzinga.com/events/real-estate-reimagined">Real Estate Reimagined: Capitalizing On Unique Opportunities In A Changing Market</a>
Thursday, December 21 &#x7C; 11 AM EST
Benzinga is hosting an insightful webinar dedicated to the dynamic world of real estate investing. The expert panel, featuring the most innovative industry leaders, will guide you through the intricacies of the current market and the unique opportunities available to retail investors.&nbsp;
<a href="https://www.benzinga.com/events/real-estate-reimagined">Register for this free event</a>
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>This REIT just teamed up with the company that built Elon Musk's tiny house to develop affordable housing communities. <a href="https://www.benzinga.com/alternative-investments/listing/future-of-housing-fund">Here's how you can be among the first to buy shares.</a></li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/3-high-yield-investments-boost-income">Here are 3 high-yield investments to add significant income to your portfolio</a>.</li>
<li>The 60/40 strategy isn't going to cut it any longer, which is why major firms like Blackrock are adding <a href="https://www.benzinga.com/money/60-40-demise">these assets to their portfolios to boost returns.</a></li>
</ul>

Hannon Armstrong Sustainable Infrastructure Capital

HASI

JBGS

Fed Talks Three Cuts, REITs Go Ballistic — What To Do Now?

WIIM

ILPT

INVH

Shares of REITs are trading higher amid a decline in US Treasury yields, which has lifted dividend-paying stocks in Friday's session.

Guidance

Macerich Reaffirms FY23 FFO Guidance Of $1.77-1.83 vs $1.78 Est

Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) reported quarterly FFO of $0.44 per share which met the analyst consensus estimate. This is a 4.35 percent decrease over FFO of $0.46 per share from the same period last year. The company reported quarterly sales of $218.15 million which beat the analyst consensus estimate of $211.99 million by 2.91 percent. This is a 3.53 percent increase over sales of $210.70 million the same period last year.

Macerich Q3 FFO $0.44, Inline, Sales $218.15M Beat $211.99M Estimate

Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) is set to give its latest quarterly earnings report on Tuesday, 2023-10-31. Here's what investors need to know before the announcement.
Analysts estimate that Macerich will report an earnings per share (EPS) of $0.44. 
Macerich bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Here's a look at Macerich's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.4</td>
<td>0.4</td>
<td>0.53</td>
<td>0.46</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.33%</td>
<td>0.7%</td>
<td>0.38%</td>
<td>4.76%</td>
</tr>
</tbody>
</table>

<h3>Stock Performance</h3>
Shares of Macerich were trading at $9.71 as of October 27. Over the last 52-week period, shares are down 17.15%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/MAC/earnings">To track all earnings releases for Macerich visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Preview Of Macerich's Earnings

Mall Mania: Shop Till Ya' Drop

Piper Sandler analyst Alexander Goldfarb maintained a Hold rating on Macerich (MAC – Research Report) today and set a price target of $17.00. The c...

Piper Sandler Remains a Hold on Macerich (MAC)

American Homes 4 Rent, Essential Properties score upgrades in Citi's 'Final Four'

Macerich Company (MAC) just unveiled an announcement. Peggy Alford has announced that she will not seek re-election to the Board of Directors of Th...

Peggy Alford to Exit Macerich Company's Board of Directors

NXST, GNTX, and COKE among the best mid-cap technical ideas - Roth MKM

My Biggest Losses And Lessons

Who's Shopping For Mall REITs?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Research firm Nareit&rsquo;s <a href="https://www.reit.com/news/blog/market-commentary/2024-reit-market-outlook">prediction</a> that 2024 will be a year that top REITs are &ldquo;well-situated for outsized performance&rdquo; hasn&rsquo;t yet come to fruition. Much of its predictive power rested on the assumption that the Fed would cut rates early in the year, which seems increasingly unlikely. Higher and stickier inflation means that Jerome Powell&rsquo;s &ldquo;higher for longer&rdquo; credo wasn&rsquo;t a bluff but a practical warning, and REITs tend to suffer most in a high-rate environment.



But all isn&rsquo;t lost. Some REIT segments are certainly set to outperform. Each of these top REITs has sector-specific bullish tailwinds set to send per-share pricing soaring, even as the wider market starts an apparent pullback. While they may not 10x your investment in the short-term, each of these top REITs is a solid addition to a well-rounded portfolio.



<h2>Iron Mountain (IRM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/irm1600-300x169.jpg" alt="Iron Mountain (IRM) logo on truck"><div>Source: Shutterstock</div></div>Iron Mountain (NYSE:<a href="https://investorplace.com/stock-quotes/irm-stock-quote/">IRM</a>) is one of April&rsquo;s top REITs on a dual-pronged basis. The unique combination REIT excels as a physical security storage provider and edges into the artificial intelligence and machine learning sectors. A massive data center and cloud solution provider, Iron Mountain serves over 90% of Fortune 1000 companies, safeguarding diverse varieties of physical information, including historical documents, contractual agreements and audio recordings.



However, the rising demand for data storage and offsite information processing is what makes Iron Mountain a top REIT for the next-gen economy.



Equipped with state-of-the-art <a href="https://www.ironmountain.com/resources/data-sheets-and-brochures/t/the-iron-mountain-underground-rock-solid">subterranean</a> and above-ground <a href="https://www.ironmountain.com/data-centers/colocation/our-data-centers">data centers,</a> Iron Mountain caters to a wide client base, offering efficiency, consistent uptime and reliability, essential for both traditional computing and machine learning applications. Iron Mountain&rsquo;s appeal extends beyond its pure space and capacity, though, as management also emphasizes and provides clients with the stringent security measures needed to enforce and protect proprietary data. If data is the next oil, Iron Mountain and copycats are the next oil refineries.



<h2>Healthpeak Properties (PEAK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/reit1600b-300x169.jpg" alt="Image of a man holding a key chain with a key and house attached to the key ring over a office desk in the background"><div>Source: Shutterstock</div></div>Unlike many top REITs, Healthpeak Properties (NYSE:<a href="https://investorplace.com/stock-quotes/peak-stock-quote/">PEAK</a>) is a REIT that thrives regardless of the interest rate environment. Better yet, the company&rsquo;s management is on the cutting edge of emerging healthcare trends, positioning it as a top REIT for investors seeking a bit more reflexivity and flexibility in their healthcare REITs of choice.



In response to the challenges faced by senior living facilities during the pandemic, PEAK decisively sold most of its senior housing assets for <a href="https://www.mcknightsseniorliving.com/home/news/healthpeak-substantially-exits-rental-senior-housing-with-final-149-million-in-sales/">about $4 billion</a> in 2020 and 2021. The company then strategically reinvested the proceeds into life science and medical office portfolios, sectors with high-quality assets in leading markets and top-tier tenants, and today&rsquo;s top emerging healthcare segments.



Beyond right-sizing the business, Healthpeak&rsquo;s outlook means proper positioning to capitalize on potential regulatory changes in healthcare, particularly cost-management initiatives that target aging populations living on fixed incomes. With its high-quality facilities in niche markets, Healthpeak can easily meet the rising demand from premier healthcare systems, expecting those able to afford it to demand a more concierge experience.



<h2>Macerich (MAC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/reit1600e-300x169.jpg" alt="a person in a suit holds a tiny house to represent reits to buy"><div>Source: Shutterstock</div></div>Macerich (NYSE:<a href="https://investorplace.com/stock-quotes/mac-stock-quote/">MAC</a>), a mall management REIT, stands out as a contrarian pick among top REITs, considering how bearish many feel about the sector. Still, while malls generally face challenges, Class A malls (higher-end options owners by Macerich) continue to perform relatively well, attracting consistent foot traffic and maintaining stable revenue and long-term leases. These malls are destination spots where people spend a whole day rather than quick stops for items easily bought online.



Since 2010, Macerich has strategically adapted to the growth of online retail by shedding less profitable stores and lower-quality assets to concentrate on its premium mall properties. Like most brick-and-mortar stocks, Macerich saw its financials suffer during the pandemic. Still, signs of recovery are evident as we approach the summer sales season, with <a href="https://coresight.com/research/the-state-of-the-american-mall-competitive-attractive-and-here-to-stay/">mall visitation</a> and foot traffic surging. As Class A malls transform into hubs for social activities like coffee shops, co-working spaces and more, Macerich is well-positioned as a top REIT ready to capitalize on these emerging industry adaptations.



On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>
<div>Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremy&rsquo;s work can also be found at <a href="https://jeremyflint.work/">www.jeremyflint.work</a>.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
The post <a href="https://investorplace.com/2024/04/the-top-3-reits-to-buy-in-april-2024/">The Top 3 REITs to Buy in April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The Top 3 REITs to Buy in April 2024

Baron Real Estate Income Fund Q1 2024 Shareholder Letter

The Macerich Company declares $0.17 dividend

AVNT

BIPC

BRBR

CGNX

COKE

COLM

CRUS

ENOV

EQIX

ETRN

EWBC

FBIN

GDHLF

GNTX

JBLU

LIVN

MASI

MSFT

NOKBF

NXST

PEAK

PNFP

REXR

SAFE

SBAC

SLAB

SLGN

STAA

TRNO

TSCDF

TSCDY

UNIT

VICI

WELL

WYNN

XLRE

Press Releases

Macerich to Welcome Life Time to Twenty Ninth Street in Boulder

General

Macerich to Welcome Level99 to Tysons Corner Center

Macerich Declares the Quarterly Dividend on Its Common Shares

The Macerich Company Announces CEO Change

Macerich Reports Fourth Quarter 2023 Results

The Macerich Company Announces Grant of Employment Inducement Award in Connection with Appointment of Jackson Hsieh as President and Chief Executive Officer

Macerich Marks 30 Years as Public Company, Rings Closing Bell at New York Stock Exchange

Macerich Schedules First Quarter 2024 Earnings Release and Conference Call

Macerich Celebrates Earth Month With 'You Pledge We Plant' Campaign, Industry Recognition