The Macerich Company (MAC)
(Delayed Data from NYSE)
$15.28 USD
-0.21 (-1.36%)
Updated May 10, 2024 04:00 PM ET
After-Market: $15.28 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, 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, ...
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.
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 | 0.42 |
Current Year EPS Consensus Estimate | 1.77 |
Estimated Long-Term EPS Growth Rate | 4.90 |
Exp Earnings Date | 8/13/2024 |
Price and Volume Information
Zacks Rank | |
Yesterday's Close | 15.49 |
52 Week High | 17.69 |
52 Week Low | 9.05 |
Beta | 2.38 |
20 Day Moving Average | 2,432,280.25 |
Target Price Consensus | 15.21 |
4 Week | -5.80 |
12 Week | -12.54 |
YTD | -0.97 |
4 Week | -6.22 |
12 Week | -15.77 |
YTD | -8.16 |
Shares Outstanding (millions) | 215.72 |
Market Capitalization (millions) | 3,296.20 |
Short Ratio | NA |
Last Split Date | NA |
Dividend Yield | 4.45% |
Annual Dividend | $0.68 |
Payout Ratio | 0.40 |
Change in Payout Ratio | -0.02 |
Last Dividend Payout / Amount | 2/15/2024 / $0.17 |
Fundamental Ratios
P/E (F1) | 8.63 |
Trailing 12 Months | 8.94 |
PEG Ratio | 1.75 |
vs. Previous Year | -22.50% |
vs. Previous Quarter | -44.64% |
vs. Previous Year | -2.83% |
vs. Previous Quarter | -12.53% |
Price/Book | 1.40 |
Price/Cash Flow | 92.97 |
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 | NA |
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 | 1.85 |
12/31/23 | 1.67 |
9/30/23 | 1.72 |
3/31/24 | 64.95 |
12/31/23 | 62.57 |
9/30/23 | 63.17 |