AllAnalyst Report
logoMorningstarMay 11, 2021

The Macerich Company: Macerich's Q1 Slightly Ahead of Expectations as Fundamentals Start to Recover

Symbols
MAC
Sector(s)
Real Estate
Rating
Current Price
$17.15
Fair Value
Economic Moat
Stewardship
Summary

The Macerich Company is an S&P 500 company that invests in premium mall assets. The company owns 29 regional malls in its consolidated portfolio and 19 regional malls in its unconsolidated portfolio along with six power centers and six other real estate assets. The company's total portfolio has 50.6 million square feet gross leasable area and averaged $801 sales per square foot for the past 12 months, with the consolidated portfolio averaging $646 sales per square foot and the unconsolidated portfolio averaging $998 sales per square foot.

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Analyst Profile

Kevin Brown

Equity Analyst
Kevin Brown is an equity analyst on the finance team for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers apartment, healthcare, and hotel REITs and real estate service companies in the United States.Before joining Morningstar in 2018, Brown worked at an asset-management company focused on global real estate, spending nine years covering healthcare and hotel REITs.Brown holds a bachelor’s degree in economics from Dartmouth College. He also holds the Chartered Financial Analyst® designation.