The Macerich Company (MAC)
(Delayed Data from NYSE)
$17.65 USD
+0.38 (2.20%)
Updated Sep 20, 2024 04:00 PM ET
After-Market: $17.65 0.00 (0.00%) 7:58 PM ET
3-Hold of 5 3
C Value F Growth F Momentum F VGM
Company Summary
Founded in 1972 and headquartered in Santa Monica, CA, The Macerich Company is a retail real estate investment trust (REIT) that owns, acquires, leases, manages, develops, and redevelops regional and community shopping centers in high barrier-to-entry markets.
Macerich primarily focuses on the attractive, densely populated markets of the United States. It has notable presence in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.As of June 30, 2024, Macerich’s real estate ownership encompassed 45 million square feet of gross leasable area, comprising mainly interests in 42 regional town centers, three ...
Company Summary
Founded in 1972 and headquartered in Santa Monica, CA, The Macerich Company is a retail real estate investment trust (REIT) that owns, acquires, leases, manages, develops, and redevelops regional and community shopping centers in high barrier-to-entry markets.
Macerich primarily focuses on the attractive, densely populated markets of the United States. It has notable presence in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.As of June 30, 2024, Macerich’s real estate ownership encompassed 45 million square feet of gross leasable area, comprising mainly interests in 42 regional town centers, three community/power shopping centers and one redevelopment property.
Moreover, the company has a joint venture in Scottsdale Fashion Square, a retail center in Scottsdale, AZ. The total cost of the project is estimated to be between $84-$90 million, with $42-$45 million estimated to be its pro rata share. As of June 30, 2024, the company has incurred $23.4 million of the total $46.8 million incurred by the joint venture. The anticipated opening will be in phases beginning in 2024, with completion in 2025.
In May 2024, Macerich purchased the remaining 40% stake of both Arrowhead Towne Center in Glendale, AZ and South Plains Mall in Lubbock, TX, for $36.5 million plus the debt from its joint venture partner, which is a global institutional investor. With the move, Macerich gained full ownership of both properties. It also disclosed the execution of a contract for the sale of a prominent retail asset in a major market. This transaction, which is likely to close soon, is expected to generate $110 million of net proceeds, based on an expected cap rate of 6.5%.
In January 2024, Macerich and Hudson Pacific Properties completed the $700 million sale of One Westside and Westside Two in Los Angeles. The joint venture, with Hudson Pacific holding a 75% interest and Macerich a 25% interest, marked a significant transaction in the real estate market.
Note: All EPS numbers presented in this report represents funds from operations (FFO) per share. 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.
General Information
Macerich Company The
401 WILSHIRE BLVD STE 700
SANTA MONICA, CA 90401
Phone: 310-394-6000
Fax: 310-395-2791
Email: samantha.greening@macerich.com
Industry | REIT and Equity Trust - Retail |
Sector | Finance |
Fiscal Year End | December |
Last Reported Quarter | 6/30/2024 |
Exp Earnings Date | 10/29/2024 |
EPS Information
Current Quarter EPS Consensus Estimate | 0.40 |
Current Year EPS Consensus Estimate | 1.63 |
Estimated Long-Term EPS Growth Rate | 18.50 |
Exp Earnings Date | 10/29/2024 |
Price and Volume Information
Zacks Rank | |
Yesterday's Close | 17.27 |
52 Week High | 17.73 |
52 Week Low | 9.21 |
Beta | 2.49 |
20 Day Moving Average | 1,695,320.62 |
Target Price Consensus | 15.17 |
4 Week | 13.43 |
12 Week | 14.31 |
YTD | 14.39 |
4 Week | 12.08 |
12 Week | 9.46 |
YTD | -4.32 |
Shares Outstanding (millions) | 215.99 |
Market Capitalization (millions) | 3,812.25 |
Short Ratio | NA |
Last Split Date | NA |
Dividend Yield | 3.85% |
Annual Dividend | $0.68 |
Payout Ratio | 0.39 |
Change in Payout Ratio | -0.01 |
Last Dividend Payout / Amount | 8/19/2024 / $0.17 |
Fundamental Ratios
P/E (F1) | 10.83 |
Trailing 12 Months | 10.09 |
PEG Ratio | 0.59 |
vs. Previous Year | 10.00% |
vs. Previous Quarter | 41.94% |
vs. Previous Year | 1.48% |
vs. Previous Quarter | 3.23% |
Price/Book | 1.47 |
Price/Cash Flow | 107.39 |
Price / Sales | 4.33 |
6/30/24 | -3.01 |
3/31/24 | -13.42 |
12/31/23 | -10.26 |
6/30/24 | -0.99 |
3/31/24 | -4.51 |
12/31/23 | -3.55 |
6/30/24 | 0.86 |
3/31/24 | 1.03 |
12/31/23 | 0.95 |
6/30/24 | 0.86 |
3/31/24 | 1.03 |
12/31/23 | 0.95 |
6/30/24 | -8.52 |
3/31/24 | -38.96 |
12/31/23 | -31.00 |
6/30/24 | -8.52 |
3/31/24 | -38.96 |
12/31/23 | -31.00 |
6/30/24 | -24.03 |
3/31/24 | -20.14 |
12/31/23 | -16.30 |
6/30/24 | 12.00 |
3/31/24 | 10.94 |
12/31/23 | 11.70 |
6/30/24 | NA |
3/31/24 | NA |
12/31/23 | NA |
6/30/24 | 1.76 |
3/31/24 | 1.81 |
12/31/23 | 1.67 |
6/30/24 | 63.71 |
3/31/24 | 64.39 |
12/31/23 | 62.57 |