Truist Financial analyst Ki Bin Kim has maintained their bullish stance on MAC stock, giving a Buy rating on July 30.
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Ki Bin Kim has given his Buy rating due to a combination of factors that highlight Macerich’s strong performance and growth potential. The company’s second-quarter results were largely in line with expectations, demonstrating robust leasing momentum that has already surpassed their full-year plan. This leasing success is expected to eventually lead to noticeable growth in net operating income (NOI), with the SNO pipeline increasing significantly, indicating a positive trajectory for future earnings.
Moreover, Macerich’s strategic acquisition of the Crabtree Valley Mall, a prominent mall in Raleigh, NC, further supports the Buy rating. The acquisition was made at an attractive yield, and the mall’s strong sales figures and high retailer demand since the takeover suggest promising leasing activity. These factors, combined with the company’s ability to manage and grow its asset portfolio effectively, underpin the optimistic outlook for Macerich’s stock performance.
According to TipRanks, Bin Kim is a 4-star analyst with an average return of 6.5% and a 55.10% success rate. Bin Kim covers the Real Estate sector, focusing on stocks such as Cubesmart, Macerich, and EPR Properties.
In another report released on July 30, Compass Point also maintained a Buy rating on the stock with a $25.00 price target.