SITC - Macerich upgraded to Hold at Jefferies on improving quality portfolio

Vera_Petrunina/iStock via Getty Images Macerich (MAC) stock gains 1.5% after Jefferies analyst Linda Tsai upgrades the mall REIT to Hold from Underperform as improvements appear sustainable in its better quality portfolio, alongside sector-wide reflation. In Q2, Macerich recast its credit facility, sold assets, and raised equity, Tsai reports in a note. Share dilution, though, is likely to weigh on earnings growth given required ongoing equity sales, she writes. Shares of MAC are up 1.7% The Hold rating agrees with the Neutral Quant rating (poorest grade in growth and highest grade in value) and the Neutral Wall St. analyst rating (3 Very Bullish, 1 Bullish, 4 Neutral, 3 Bearish, 6 Very Bearish). In the past year, the total return for MAC (+122%) outperforms Weingarten Realty Investors (WRI) (+106%), SITE Centers (SITC) (+117%), and S&P 500 Index (+38%), according to the chart below. Last month, Macerich stock rises after Deutsche Bank upgrades as leasing activity

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Macerich upgraded to Hold at Jefferies on improving quality portfolio