Truist Securities has upgraded Macerich (MAC) along with several other real estate investment trusts to a Buy rating, shifting from its previous Hold position. This decision comes as the firm maintains its price target for Macerich at $19. The upgrade is part of a broader revision that also includes Acadia Realty Trust (AKR, Financial), EastGroup Properties (EGP), and Public Storage (PSA), with their price targets held at $23, $180, and $310, respectively.
In the context of these upgrades, analysts at Truist highlight the potential positive impact of recent tariff announcements. The 90-day pause on certain tariffs and a baseline tariff of 10% are seen as indicators of greater flexibility in trade policy. This development is perceived as a boon for the economic environment, suggesting that fundamentals and valuations may gain more prominence in investment considerations.
The analyst team emphasizes the attractive valuation levels at which Macerich, along with the other highlighted REITs, is currently trading. This valuation appeal, combined with shifts in trade policy, positions these companies favorably in the eyes of investors looking for promising opportunities in the market.
