The Macerich Company (NYSE:MAC)

CAPS Rating: 1 out of 5

The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community shopping centers located throughout the United States.

MAC News and Commentary

Caps

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All Players

131 Outperform
179 Underperform
 

All-Star Players

31 Outperform
28 Underperform
 

Wall Street

5 Outperform
3 Underperform
 

Top MAC Bull/Bear Pitches

The best Bull and Bear pitches based on recency and number of recommendations.

dana2k (< 20)
Submitted February 03, 2007

MAC has strong management who have been making underperforming shopping centers better since the 1970s. Commercial real estate has remained strong regardless of weakness in residential real estate. MAC has boosted its dividends every year and had… More

jed71 (99.85)
Submitted May 12, 2017

I am guessing I don’t need to spend a lot of time explaining this pick to the community, since it’s a mall REIT. I’ll take a few moments to type up some comments on this one, but probably won’t turn this into a long pitch, the way some of my others… More

MAC VS S&P 500 (SPY)

Fools bearish on MAC are also bearish on:

Recent Community Commentary

Read the most recent pitches from players about MAC.

Recs

0
Member Avatar dcgatlanta (35.38) Submitted: 8/15/2017 11:49:36 AM : Outperform Start Price: $54.77 MAC Score: +2.06

High quality mall REIT with 5% yield. Trades at 14X FFO and expected to grow FFO each year

Recs

2
Member Avatar jed71 (99.85) Submitted: 5/12/2017 10:14:42 AM : Underperform Start Price: $58.48 MAC Score: +7.89

I am guessing I don’t need to spend a lot of time explaining this pick to the community, since it’s a mall REIT. I’ll take a few moments to type up some comments on this one, but probably won’t turn this into a long pitch, the way some of my others turn out. This probably won’t be my only down thumb on a mall REIT in the next few weeks, so I am warning you now that there may be others that I put on my red thumb list that are similar to this one. I am not sure how much I will comment on those, but I will try to put a few words on each, if I have the time.

It should be obvious to most that the retail mall model is dying a long, slow death. Companies, such as Amazon, are absolutely slaughtering the brick and mortars. Even the stalwarts with a loyal fan base, such as Kohl’s, are starting to feel the pinch of the “e-tailers.” I am a little late to this party, but I certainly don’t think the party’s over given that Macy’s, Sears and JCP are all announcing abysmal results. There are several things I really dislike about the mall REIT model which I’ll list below, some specific to this firm:

- These REIT’s oftentimes carry huge levels of debt in order to acquire properties.
- REIT’s must pay out a large portion of their earnings to shareholders in the form of dividends. Some may like this, but I don’t. It constrains the company in times when they can use the money in better fashion, such as to shore up their balance sheet.
- Their current tenant rates are near historic highs. MAC is included. This might seem great, but I think they have a long way to fall from these highs.
- This firm has exposure to Sears and other distressed retailers.
- The dividends paid are often well above GAAP earnings putting additional capital strain on the company.
- Their quarterly revenue is steadily declining. While the stock price has dropped accordingly to reflect this, I don’t think it’s come down nearly as much as it needs to.

I am not calling bankruptcy on this one, but I think it’s at least 50% overpriced at this current level. I have patience to wait for this to fall further this year, but I really don’t think I’ll have to wait for long. If you are going short here, make sure to do your own research.

Recs

0
Member Avatar maxxx2004 (87.60) Submitted: 3/18/2017 2:39:01 AM : Underperform Start Price: $62.66 MAC Score: +15.36

Retail spending is shifting online, Malls owners like Macerich have to decrease rents...

Leaderboard

Find the members with the highest scoring picks in MAC.

Score Leader

vanamonde

vanamonde (99.94) Score: +1,177.82

The Score Leader is the player with the highest score across all their picks in MAC.

Top
Pick
Member Name Member
Rating
Start
Date
Call Time
Frame
Start
Price
Stock
Gain
Index
Gain
Score Commentary
This player feels very strongly about this pick and has marked it a Top Pick. Top Picks do not affect a player’s score. DamsR2008 88.70 3/30/2009 Outperform 3Y $4.01 +1,345.62% +223.75% +1,121.87 0 Comment
JARKY37 < 20 3/30/2009 Outperform 1Y $4.00 +1,348.15% +228.44% +1,119.70 0 Comment
SSPX3 < 20 3/31/2009 Outperform NS $4.03 +1,338.22% +224.45% +1,113.77 0 Comment
tryintoreason < 20 4/1/2009 Outperform 5Y $4.05 +1,331.11% +228.72% +1,102.39 0 Comment
TCWeaver 99.25 3/20/2009 1/31/2011 Outperform 3Y $4.73 +1,123.36% +230.72% +892.63 0 Comment
SpecBull 75.77 4/6/2009 Outperform 3W $6.73 +760.92% +209.61% +551.31 0 Comment
aidrees 83.81 11/24/2008 Outperform 5Y $6.96 +732.02% +219.94% +512.07 0 Comment
alkimbril 58.98 11/18/2008 12/4/2009 Outperform 5Y $7.70 +651.91% +212.72% +439.19 0 Comment
poppalone < 20 11/18/2008 Outperform NS $7.88 +634.56% +211.90% +422.66 0 Comment
SuiGeneris1122 70.79 4/15/2009 Outperform 5Y $8.09 +616.11% +207.71% +408.41 0 Comment

Wall Street

See what the Wall Street professionals think, according to their public statements and filings.

Player Name Player
Rating
Start
Date
Call Time
Frame
Start
Price
Stock
Gain
S&P
Gain
Score End Date Commentary
TrackRBCCapMkts 88.35 5/6/2016 Outperform NS $75.25 -23.04% +25.19% -48.23 0 Comment
TrackJimCramer 84.97 4/9/2015 Underperform 3W $73.00 -20.67% +22.29% +42.97 0 Comment
TrackBMOCapital < 20 8/26/2014 Outperform NS $64.44 +19.72% +3.57% +16.15 11/21/2014 @ $77.15 0 Comment
TrackCreditSuiss 90.46 9/20/2013 Underperform NS $56.14 +41.61% +19.42% -22.18 4/2/2015 @ $79.50 0 Comment
TrackBofASec 96.22 4/1/2013 Outperform NS $54.74 +5.79% +63.15% -57.36 0 Comment
TrackZacks < 20 5/4/2012 Underperform 3M $61.39 -5.29% -0.48% +4.81 8/2/2012 @ $58.14 1 Comment
TrackUltraLong < 20 4/17/2012 Underperform NS $47.94 +20.79% +85.34% +64.55 1 Comment
TrackStifel 94.78 12/20/2010 Outperform NS $43.29 +38.77% +8.12% +30.66 5/14/2012 @ $60.08 0 Comment
TrackZacks < 20 11/8/2010 Outperform 3M $48.02 -0.08% +8.24% -8.32 3/8/2011 @ $47.98 1 Comment
TrackBarclaysCap 91.79 8/19/2010 Outperform NS $38.03 +44.81% +22.19% +22.62 1/26/2012 @ $55.07 0 Comment
TrackZacks < 20 6/1/2010 Underperform 3M $39.93 +3.71% +4.51% +0.80 8/10/2010 @ $41.41 1 Comment
TrackJimCramer 84.97 4/8/2010 Outperform 3W $33.07 +142.81% +75.88% +66.92 4/9/2015 @ $80.30 0 Comment
TrackOppenheimer 67.70 9/24/2009 Underperform NS $24.74 +134.04% +138.05% +4.01 0 Comment
TrackJimCramer 84.97 5/19/2009 Underperform 3W $16.05 +151.04% +30.35% -120.69 4/8/2010 @ $40.29 0 Comment
TrackJPMorgan 90.46 1/13/2009 Outperform NS $13.31 +235.97% +36.99% +198.98 4/30/2010 @ $44.71 0 Comment
TrackBofASec 96.22 8/12/2008 Outperform NS $47.04 +26.57% +3.81% +22.77 7/6/2012 @ $59.54 0 Comment
TrackChrisDavis 95.98 6/3/2008 Outperform 1Y $43.01 +34.64% +90.19% -55.55 1 Comment
TrackHeebner 28.87 12/31/2007 Outperform NS $53.86 -36.26% -25.27% -11.00 12/31/2009 @ $34.33 4 Comments
TrackDeutscheSec 90.18 5/30/2007 Outperform NS $50.11 +15.56% +78.31% -62.75 0 Comment
TrackRBCCapMkts 88.35 2/14/2007 Outperform NS $67.79 -8.96% +4.36% -13.32 2/12/2013 @ $61.72 0 Comment
TrackFBRCapitalM 90.11 1/8/2007 Outperform NS $49.13 +17.86% +93.04% -75.18 0 Comment
TrackBofASec 96.22 12/20/2006 Outperform NS $82.50 +19.04% +2.23% +16.81 2/14/2007 @ $98.21 0 Comment
TrackLehmanBros < 20 12/14/2006 Outperform NS $79.34 -16.59% -7.89% -8.70 6/20/2008 @ $66.18 0 Comment
TrackUBS 93.58 10/19/2006 Outperform NS $54.85 +10.54% +0.13% +10.41 5/10/2012 @ $60.63 0 Comment

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