The Macerich Company (MAC)
(Real Time Quote from BATS)
$15.12 USD
-0.14 (-0.92%)
Updated Jun 4, 2024 11:04 AM ET
5-Strong Sell of 5 5
D Value C Growth D Momentum D 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 Mar 31, 2024, Macerich’s real estate ownership encompassed 47 million square feet of gross leasable area, comprising mainly interests in 43 regional town ...
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 Mar 31, 2024, Macerich’s real estate ownership encompassed 47 million square feet of gross leasable area, comprising mainly interests in 43 regional town centers, three community/power shopping centers and one redevelopment property.
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 Mar 31, 2024.
In a recent strategic update, Macerich purchased the remaining 40% stake of both Arrowhead Towne Center in Metro Phoenix 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. Achieving full ownership of these retail assets through the purchase of stakes from JVs seems a strategic fit for Macerich. The company is also focused on the disposition of assets. It 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 this summer, 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 | 3/31/2024 |
Exp Earnings Date | 8/13/2024 |
EPS Information
Current Quarter EPS Consensus Estimate | 0.41 |
Current Year EPS Consensus Estimate | 1.72 |
Estimated Long-Term EPS Growth Rate | 2.80 |
Exp Earnings Date | 8/13/2024 |
Price and Volume Information
Zacks Rank | |
Yesterday's Close | 15.26 |
52 Week High | 17.69 |
52 Week Low | 9.21 |
Beta | 2.43 |
20 Day Moving Average | 2,000,904.38 |
Target Price Consensus | 14.79 |
4 Week | 3.95 |
12 Week | -4.27 |
YTD | -1.10 |
4 Week | 1.93 |
12 Week | -7.26 |
YTD | -10.72 |
Shares Outstanding (millions) | 215.72 |
Market Capitalization (millions) | 3,291.89 |
Short Ratio | NA |
Last Split Date | NA |
Dividend Yield | 4.46% |
Annual Dividend | $0.68 |
Payout Ratio | 0.40 |
Change in Payout Ratio | -0.02 |
Last Dividend Payout / Amount | 5/17/2024 / $0.17 |
Fundamental Ratios
P/E (F1) | 8.89 |
Trailing 12 Months | 8.92 |
PEG Ratio | 3.14 |
vs. Previous Year | -22.50% |
vs. Previous Quarter | -44.64% |
vs. Previous Year | -2.83% |
vs. Previous Quarter | -12.53% |
Price/Book | 1.39 |
Price/Cash Flow | 92.85 |
Price / Sales | 3.75 |
3/31/24 | -13.42 |
12/31/23 | -10.26 |
9/30/23 | -12.04 |
3/31/24 | -4.51 |
12/31/23 | -3.55 |
9/30/23 | -4.25 |
3/31/24 | 1.03 |
12/31/23 | 0.95 |
9/30/23 | 0.95 |
3/31/24 | 1.03 |
12/31/23 | 0.95 |
9/30/23 | 0.95 |
3/31/24 | -38.96 |
12/31/23 | -31.00 |
9/30/23 | -38.30 |
3/31/24 | -38.96 |
12/31/23 | -31.00 |
9/30/23 | -38.30 |
3/31/24 | -20.14 |
12/31/23 | -16.30 |
9/30/23 | -23.68 |
3/31/24 | 10.94 |
12/31/23 | 11.70 |
9/30/23 | 11.61 |
3/31/24 | NA |
12/31/23 | NA |
9/30/23 | NA |
3/31/24 | 1.81 |
12/31/23 | 1.67 |
9/30/23 | 1.72 |
3/31/24 | 64.39 |
12/31/23 | 62.57 |
9/30/23 | 63.17 |