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Fly News Breaks for November 26, 2018
MAC
Nov 26, 2018 | 07:28 EDT
BTIG analyst James Sullivan lowered his price target on Macerich to $63 to reflect the "negative impact of accounting changes for leasing costs and higher interest expense along with lower term fees." The analyst also keeps his Buy rating on the stock, citing its "very healthy" portfolio operating trends which include sales productivity increasing at a high single digit rate so far this year and improving same-store net operating income. Sullivan expects Macerich to sustain its 3% per year increase in that metric going forward.
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