Jefferies Downgrades The Macerich Company (MAC) to Hold

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Jefferies downgraded The Macerich Company (NYSE: MAC) from Buy to Hold with a price target of $63.00.

The firm comments, "Strong operating results in 1Q12 support our thesis to be overweight the Mall REIT sector. We are reiterating our preference for the Class A Mall REITs, but note these stocks have largely caught up with the Class B/C Mall REITs in terms of YTD performance. Therefore, we are increasingly selective. SPG remains our top pick."

For an analyst ratings summary and ratings history on The Macerich Company click here. For more ratings news on The Macerich Company click here.

Shares of The Macerich Company closed at $60.68 yesterday, with a 52 week range of $38.64-$62.83.

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