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Fly News Breaks for January 7, 2020
MAC
Jan 7, 2020 | 06:19 EDT
BMO Capital analyst Jeremy Metz downgraded Macerich to Underperform from Market Perform with a $24 price target. Despite its valuation, Macerich "is stuck" given high leverage, lack of dividend coverage, rising capital needs, store closing headwinds, and execution risks on anticipated asset sales, Metz tells investors in a research note.