Professional
Added to YB: 2025-01-21
Pitch date: 2024-12-31
MAC [bullish]
The Macerich Company
-4.47%
current return
Author Info
No bio for this author
Company Info
Macerich is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.
Market Cap
$4.2B
Pitch Price
$19.54
Price Target
N/A
Dividend
4.10%
EV/EBITDA
14.65
P/E
-10.52
EV/Sales
8.34
Sector
Retail REITs
Category
turnaround
Baron Discovery Fund New Position: The Macerich Company
MAC: High-quality mall REIT (43 properties, 90% Class A) at discount to peers. Favorable industry fundamentals: high tenant demand, limited supply. Growth via occupancy, rents, margins, redevelopment. New CEO (ex-Spirit REIT) to improve portfolio, sell non-core assets, reduce debt. Valuation gap to close as turnaround progresses.
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