The Federal Reserve's reassertion this week that despite recent gains in the consumer price index (CPI) and producer price index (PPI), it still envisions three rate cuts coming in 2024, sparking a rally in real estate investment trusts (REITs). On March 22, three analysts from Citigroup kept that enthusiasm going by upgrading a half dozen REITs and raising price targets on all six. Take a look at the REITs receiving upgrades this week, along with some positives that each REIT has going for it.
Healthy retail demand, focus on mixed-use development and capital-recycling moves bode well for Macerich (MAC).
Macerich (MAC) witnesses year-over-year growth in occupancy and same-center NOI. However, the top line lags estimates. It has issued 2024 FFO per share guidance.