Compass Point Maintains Buy Rating for Macerich: Here's What You Need To Know

Compass Point has decided to maintain its Buy rating of Macerich MAC and lower its price target from $27.00 to $20.00.

Shares of Macerich are trading down 0.45% over the last 24 hours, at $8.90 per share.

A move to $20.00 would account for a 124.72% increase from the current share price.

About Macerich

The Macerich Company is an S&P 500 company that invests in premium mall assets. The company owns 29 regional malls in its consolidated portfolio and 19 regional malls in its unconsolidated portfolio along with six power centers and six other real estate assets. The company's total portfolio has 47.6 million square feet of gross leasable area and averaged $801 sales per square foot over the 12 months prior to the pandemic, with the consolidated portfolio averaging $646 sales per square foot and the unconsolidated portfolio averaging $998 sales per square foot.

About Analyst Ratings

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.