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MAC

Macerich

$26.22

0.18 (0.69%)

06:10
12/17/19
12/17
06:10
12/17/19
06:10

Macerich downgraded to Underweight from Sector Weight at KeyBanc

KeyBanc analyst Craig Mailman downgraded Macerich to Underweight from Sector Weight with a $21.50 price target.

MAC Macerich
$26.22

0.18 (0.69%)

02/08/19
WELS
02/08/19
NO CHANGE
WELS
Wells downgrades Regional Mall REIT sector to Market Weight from Overweight
Wells Fargo analyst Jeffrey Donnelly reduced his rating on the Regional Mall REIT sector to Market Weight from Overweight. The ongoing "revenue disruption" from small-shop and anchor turnover combined with the anchor redevelopment initiatives will be a persistent source of earnings pressure in 2019 and 2020, Donnelly tells investors in a research note. Amid "low and decelerating" core earnings growth relative to other property types, the analyst believes "all but the very best capitalized companies may continue to trade as value ideas." He views Simon Property (SPG) as the dominant global player due to its "strong liquidity, robust balance sheet capacity, high-quality assets, and the depth of personnel capable of undertaking extensive redevelopment programs." Donnelly this morning also downgraded Macerich (MAC) to Market Perform from Outperform and kept an Underperform rating on CBL & Associates (CBL).
06/20/19
MSCO
06/20/19
NO CHANGE
Target $30
MSCO
Underweight
Macerich price target lowered to $30 from $45 at Morgan Stanley
Morgan Stanley analyst Richard Hill said he sees cash flow headwinds accelerating at Macerich (MAC) and believes the market underappreciates its deterioration in free cash flow. The analyst, who projects a $150M-$200M cash shortfall every year after payment of the dividend, lowered his price target on Macerich shares to $30 from $45 and keeps an Underweight rating on the stock. He also lowered his price target on Taubman Centers (TCO) to $45 from $50 and cut his price target for Simon Property (SPG) to $170 from $180 to reflect the challenging retail environment. He has Equal Weight ratings on Taubman and Simon shares.
09/26/19
BMOC
09/26/19
DOWNGRADE
Target $33
BMOC
Market Perform
Macerich downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst Jeremy Metz downgraded Macerich to Market Perform from Outperform and lowered his price target for the shares to $33 from $40. The stock's near-term risk/reward proposition has "skewed lower as potential catalysts dim," Metz tells investors in a research note. The analyst has increasingly lost conviction on the likelihood of a joint venture to raise needed capital and reduce leverage. Further, he sees risk to the ultimate effectiveness at this stage even a venture can be executed given the company's rising capex needs. In addition, there has been "no letup in retailer headwinds," contends Metz.
09/26/19
09/26/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. HD Supply (HDS) downgraded to Equal Weight from Overweight at Barclays and to Market Perform from Outperform at William Blair. 2. Macerich (MAC) downgraded to Market Perform from Outperform at BMO Capital with analyst Jeremy Metz saying the stock's near-term risk/reward proposition has "skewed lower as potential catalysts dim." 3. Enanta (ENTA) downgraded to Underweight from Neutral at JPMorgan with analyst Eric Joseph saying the EDP-305 results yesterday, while positive and fundamentally de-risking for the compound, fall short of delivering best-in-class status. 4. Timken (TKR) downgraded to Underperform from Neutral at BofA/Merrill with analyst Ross Gilardi saying the company has been "too aggressive" on the M&A front over the past 3-5 years, which poses a risk to its performance in the event of an economic downturn. 5. Northern Trust (NTRS) downgraded to Neutral from Buy at UBS with analyst Brennan Hawken citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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