|Bid||11.47 x 800|
|Ask||11.40 x 1800|
|Day's range||10.80 - 11.76|
|52-week range||4.81 - 35.94|
|Beta (5Y monthly)||0.81|
|PE ratio (TTM)||19.58|
|Earnings date||30 Jul 2020 - 03 Aug 2020|
|Forward dividend & yield||0.40 (4.27%)|
|Ex-dividend date||21 Apr 2020|
|1y target est||11.10|
The market was in a good mood, taking the mall REITs along with it. There's a very good reason for that, and for not getting too upbeat.
Maybe, just maybe, the reopening of the U.S. economy will go better than people were hoping. If so, these REITs could be big winners.
The pain started with Tanger, but quickly spread to the entire mall REIT sector. Investors are still absorbing earnings.
Joining us today are Tom O'Hern, Chief Executive Officer; Scott Kingsmore, Senior Executive Vice President and Chief Financial Officer; and Doug Healey, Senior Executive Vice President, Leasing. Thank you, Tom.
Macerich (MAC) delivered FFO and revenue surprises of 2.53% and 1.36%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
SANTA MONICA, Calif. (AP) _ The Macerich Co. (MAC) on Tuesday reported a key measure of profitability in its first quarter. The results beat Wall Street expectations. The Santa Monica, California-based real estate investment trust said it had funds from operations of $122.7 million, or 81 cents per share, in the period.
The stock market ended the week on a positive note, with the Dow Jones Industrial Average and S&P 500 up by 1.5% and 1.4%, respectively, as of 3 p.m. EDT. Mall operator Macerich (NYSE: MAC) was a particular standout, with the retail REIT's shares up by nearly 11%. This is especially true with outdoor (open-air) shopping centers.
Lamar Advertising (LAMR) registers growth in operating income for Q1 but plans a reduction in capital expenditure for the year amid the choppiness in the market.
Investors clearly think the future looks brighter for mall owners than it did just a short while ago. But does it really?
After notable moves on Monday, real estate investment trusts (REITs) that own enclosed malls and factory outlet centers rose sharply for a second day. Macerich (NYSE: MAC) jumped nearly 13% in early trading today, with Tanger Factory Outlet Centers (NYSE: SKT) rising 15% and Taubman Centers (NYSE: TCO) 16.5%. Other big names in the sector also saw quick price gains, including Pennsylvania REIT (NYSE: PEI) and industry giant Simon Property Group (NYSE: SPG), which CNBC reported has started to make plans to reopen some of its malls and outlet centers.
SANTA MONICA, Calif. (AP) _ The Macerich Co. (MAC) on Thursday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations. The real estate investment trust, based in Santa Monica, California, said it had funds from operations of $148.1 million, or 98 cents per share, in the period.
High volumes of tenant bankruptcies at its properties and earnings dilution from disposal of weaker-performing malls might have adversely impacted Macerich's (MAC) Q4 performance.
Alexandria's (ARE) Q4 results reflect decent internal and external growth, as well as continued strong leasing activity and rental-rate growth during the October-December period.
Zacks Market Edge Highlights: KeyCorp, Innovative Industrial Properties, Boot Barn, Exxon and Macerich
Simon Property (SPG) to enjoy the largest network of Return Bar counters in the shopping-center industry, with the latest expansion of the Happy Returns' service desks to 52 locations.
Federal Realty (FRT) will use proceeds from the partial sale of 11.7 acres of its 35-acre San Antonio Center regional shopping center to pay condemnation awards to tenants occupying the sold space.
Macerich's (MAC) Scottsdale Fashion Square's luxury wing reports an improvement in sales backed by the company's efforts to redevelop and expand.
Though Macerich's (MAC) share-price performance has been disappointing in 2019, it is undertaking all appropriate measures to turn around tables in the upcoming year.