The Macerich Company (MAC - Free Report) has announced the pre-festive expansion of Santa Monica-based Happy Returns to three added malls – Fashion Outlets of Chicago, The Shops at North Bridge and Tysons Corner Center.
The well-located and top-performing properties of Macerich are gradually turning into hubs of innovative omni-channel ideas. Happy Returns provides an effortless return process to online shoppers, which gives immediate refunds.
Happy Returns is aiming at transforming the e-commerce space by providing solution to the main area of concern – returns. The company is targeting top-quality settings that already have a strong footfall.
Macerich currently carries a Zacks Rank #3 (Hold). For 2016, the REIT’s current quarter estimates remained unchanged at $4.10 per share. Quarter to date, Macerich’s share price plunged 14.5% whereas this fall for the Zacks categorized REIT and Equity Trust – Retail industry was 10.6%.
Some better-ranked stocks in the same space include Seritage Growth Properties (SRG - Free Report) , CubeSmart (CUBE - Free Report) and American Tower Corporation (AMT - Free Report) . All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Seritage Growth Properties’ current-quarter funds from operations (“FFO”) estimates have moved up 1.7% over the past one month to 59 cents.
CubeSmart’ current-quarter estimates remained stable at 37 cents over the past one month period.
Current-quarter estimates for American Tower Corporation remained unchanged at $1.43 over the past month.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
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