Quartet of REITs upgraded to Buy at Truist on ‘attractive’ valuations

As previously reported, Truist upgraded Macerich (MAC), Acadia Realty Trust (AKR), EastGroup Properties (EGP) and Public Storage (PSA), all to Buy from Hold, while maintaining its price targets of $19, $23, $180, and $310, respectively, and maintaining estimates for each. Trump’s announcement to pause tariffs for 90 days and a 10% baseline tariff is “a significant positive” that the firm takes as “a strong signal of his flexibility/practicality,” meaning fundamentals and valuations can “start to matter more so,” the analyst tells investors. The analyst believes Macerich, Acadia, EastGroup, and the Industrial REITs trade at “significantly attractive valuations levels.”