02:25 AM EDT, 05/14/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target price by $2 to $13, 9.4x our 2025 FFO estimate, a discount to peers, reflecting increased property dispositions and elevated leverage (net debt-to-EBITDA was 7.95x). We increase our 2025 FFO estimate by $0.03 to $1.38 and increase 2026's estimate by $0.06 to $1.37. Management provided updates on the Path Forward Plan with $2B in planned dispositions, currently at $1.1 billion (including the Lakewood property under contract). MAC has also identified another $400 million in sale-or-give-back properties over the next two years, with the other dispositions coming from outparcels, freestanding retail, and land. Management believes these property sales and the $400 million equity issuance in Q4 2024 will aid the company in lowering its net debt-to-EBITDA to the mid-6x range by 2026 year-end. We continue to see downside risk in this plan, with management expecting NOI growth from the company's go-forward portfolio to only grow 2%-4% after 2025-2026 sales and stabilization.