Professional
Added to YB: 2025-01-21
Pitch date: 2024-12-31
MAC [bullish]
The Macerich Company
+22.09%
current return
Author Info
No bio for this author
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Company Info
The Macerich Company is a fully integrated, self-managed, self-administered real estate investment trust (REIT).
Market Cap
$6.4B
Pitch Price
$18.91
Price Target
N/A
Dividend
3.02%
EV/EBITDA
20.27
P/E
-34.41
EV/Sales
10.87
Sector
Retail REITs
Category
turnaround
Show full summary:
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.
Read full article (2 min)