MAC - This High-Yield REIT Is a Screaming Buy
2023-07-20 07:46:00 ET
While the U.S. stock market has nearly recovered from its 2022 slump, real estate investment trusts (REITs) remain out of favor, largely due to soaring interest rates. But with the Federal Reserve nearing the end of its rate-hike cycle, there are already signs that the valuation pressure on REITs is easing.
This is creating attractive buying opportunities for patient investors. With a yield of 5.5% and plenty of room to grow funds from operations (FFO) over the next several years, mall owner Macerich (NYSE: MAC) looks like a screaming buy today.
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This High-Yield REIT Is a Screaming Buy