Wells Fargo Starts The Macerich Company (MAC) at Market Perform; Regional Mall Industry has Consolidated

Wells Fargo initiates coverage on The Macerich Company (NYSE: MAC) with a Market Perform. PT range $55-$60.

Analyst, Jeffrey J. Donnelly, said, "The regional mall industry has consolidated into the hands of a few public REITs that benefit from their scale, access to capital, and strong tenant relationships. Those REITs with national platforms and high-quality portfolios are likely to attract the best tenants and the best personnel at the expense of owners with average quality or small, regional portfolios. Macerich's size and portfolio quality should allow it to benefit from these advantages. We believe the current stock valuation reflects the strengths and weaknesses of the company."

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 $58.58 yesterday.

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