Is Macerich Now A Buy?
Portfolio Pulse from
Macerich has seen a significant rally over the past year due to optimism surrounding its Path Forward Plan. The REIT is trading at 13.5x its annualized Q3 FFO and offers a 3.31% dividend yield. An upcoming equity offering is expected to be accretive, but future revenue may decline due to asset sales and givebacks.
January 07, 2025 | 9:00 pm
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NEUTRAL IMPACT
Macerich has rallied due to its Path Forward Plan, trading at 13.5x Q3 FFO with a 3.31% dividend yield. The upcoming equity offering is expected to be accretive, but future revenue may decline due to asset sales and givebacks.
Macerich's rally is driven by its strategic plan, but the potential revenue decline from asset sales and givebacks could offset gains from the equity offering. The dividend yield remains modest, and the stock's valuation is relatively high, suggesting a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100