Quote Overview

Stock Activity

Open	15.75
Day Low	15.42
Day High	15.87
52 Wk Low	9.05
52 Wk High	17.69
Avg. Volume	2,573,436
Market Cap	3.35 B
Dividend	0.68 ( 4.38%)
Beta	2.38

Key Earnings Data

Earnings ESP	-4.66%
Most Accurate Est	0.40
Current Qtr Est	0.41
Current Yr Est	1.75
Exp Earnings Date	8/13/24
Prior Year EPS	1.80
Exp EPS Growth (3-5yr) 4.93%
Forward PE	8.88
PEG Ratio	1.80

Finance » REIT and Equity Trust - Retail

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Style Scores C Value C Growth F Momentum D VGM
Zacks Rank	Hold 3
Zacks Industry Rank	Top 38%(95 out of 252)
Zacks Sector Rank	Bottom 38% (10 out of 16)
Earnings ESP	-4.66%
Research Reports for MAC Analyst \| Snapshot

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Top Peers	Symbol	Zacks Rank
The Macerich Company	MAC
Acadia Realty Trust	AKR
Kite Realty Group Trust	KRG
Agree Realty	ADC
Brixmor Property Group	BRX
EPR Properties	EPR
Equinix	EQIX

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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, Arizona, and the Metro New York to Washington, DC corridor.

As of Dec 31, 2023, Macerich’s real estate ownership encompassed 46 million square feet of gross leasable area, comprising mainly interests in 43 regional town centers, three community/power shopping centers and one redevelopment property.

Macerich is redeveloping a three-level space (formerly occupied by Bloomingdale’s and Arclight Theatre) spanning around 150,000 square feet at its Santa Monica Place regional town center in California with an estimated total project cost of $35-$40 million. The redeveloped area will include an entertainment destination use, high-end fitness and co-working space, and will open in phases beginning in 2024 through 2025. As of Dec 31, 2023, Macerich had incurred around $5.2 million of the cost.

Moreover, the company has a 50/50 JV with Simon Property Group to develop Los Angeles Premium Outlets in Carson, CA. The company has funded $39.5 million of the total $78.9 million incurred by the JV as of Dec 31, 2023.

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.