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Macerich, StepsAway Expand Allaince to Connect Shoppers
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The Macerich Company (MAC - Free Report) , the Santa Monica, CA-based retail real estate investment trust (“REIT”) and StepsAway, which specializes in connecting retailers to shoppers through smartphones have announced an expanded partnership. This expanded partnership will bring in-mall mobile retail platform of StepsAway to 22 properties of the REIT, through the application of cloud-based technology platform, SAConnect. The services offered by StepsAway aids the mall owners to augment sales per square foot. It also provides the retailers an excellent channel to enlarge their customer base and influence the purchase decisions of the consumers.
The web-based apps of StepsAway can be accessed by the shoppers through free Wi-Fi network of a mall. They can then choose to scan through the offers by retailer or by category. The main aim of the partnership being, capitalization on the rising number of digitalized shoppers, who are just steps away from a retail outlet.
The company primarily focuses on the attractive, densely populated markets of the U.S. Moreover it owns, acquires, leases, manages, develops, and redevelops regional and community shopping centers in high barrier-to-entry U.S. markets. Macerich currently holds a Zacks Rank #4 (Sell). Over the past 30 days, the company’s 2016 estimates moved down 0.2% to $4.08 per share.
Shares of Macerich underperformed the Zacks categorized REIT and Equity Trust - Retail industry, over the past one year. During the period, shares of the company lost 5.1%, while the industry gained 8.1%.
Cedar Realty Trust’s 2016 estimates remained unchanged at 56 cents per share, over the past 60 days.
General Growth Properties’ 2016 estimates remained unchanged at $1.53 per share, over the past 60 days.
Regency Centers’ 2016 estimates moved up 0.6% to $3.29 per share, over the past 60 days.
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Macerich, StepsAway Expand Allaince to Connect Shoppers
The Macerich Company (MAC - Free Report) , the Santa Monica, CA-based retail real estate investment trust (“REIT”) and StepsAway, which specializes in connecting retailers to shoppers through smartphones have announced an expanded partnership. This expanded partnership will bring in-mall mobile retail platform of StepsAway to 22 properties of the REIT, through the application of cloud-based technology platform, SAConnect. The services offered by StepsAway aids the mall owners to augment sales per square foot. It also provides the retailers an excellent channel to enlarge their customer base and influence the purchase decisions of the consumers.
The web-based apps of StepsAway can be accessed by the shoppers through free Wi-Fi network of a mall. They can then choose to scan through the offers by retailer or by category. The main aim of the partnership being, capitalization on the rising number of digitalized shoppers, who are just steps away from a retail outlet.
The company primarily focuses on the attractive, densely populated markets of the U.S. Moreover it owns, acquires, leases, manages, develops, and redevelops regional and community shopping centers in high barrier-to-entry U.S. markets. Macerich currently holds a Zacks Rank #4 (Sell). Over the past 30 days, the company’s 2016 estimates moved down 0.2% to $4.08 per share.
Shares of Macerich underperformed the Zacks categorized REIT and Equity Trust - Retail industry, over the past one year. During the period, shares of the company lost 5.1%, while the industry gained 8.1%.
Some better-ranked stocks in the same space include Cedar Realty Trust, Inc. , General Growth Properties, Inc and Regency Centers Corporation (REG - Free Report) . All these stocks hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Cedar Realty Trust’s 2016 estimates remained unchanged at 56 cents per share, over the past 60 days.
General Growth Properties’ 2016 estimates remained unchanged at $1.53 per share, over the past 60 days.
Regency Centers’ 2016 estimates moved up 0.6% to $3.29 per share, over the past 60 days.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>