Analyst Ki Bin Kim from Truist Financial maintained a Buy rating on Macerich and keeping the price target at $21.00.
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Ki Bin Kim’s rating is based on several factors that suggest a positive outlook for Macerich. Despite slight adjustments in revenue estimates and increased operating costs, the overall growth prospects remain strong. The company is expected to achieve approximately 7% growth in funds from operations per share over the next three years, indicating a robust financial performance.
Additionally, Macerich is on a path of incremental deleveraging, which could enhance its financial stability and attractiveness to investors. There is also potential for an upward re-rating, which could further boost the stock’s value. These factors collectively contribute to the Buy rating, reflecting confidence in the company’s future performance.
Bin Kim covers the Real Estate sector, focusing on stocks such as SmartStop Self Storage REIT, Inc., Cubesmart, and Macerich. According to TipRanks, Bin Kim has an average return of 6.9% and a 58.85% success rate on recommended stocks.