Macerich Company | REIT Profile

Symbol: MAC
CIK: 912242
Exchange: NYSE
Founded: 1964 (57 years)
HQ: Santa Monica, CA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Retail

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See MAC on SEC.gov

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Overall Score: 6.3

See score breakdown | See trend

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


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Hightlights of Trading Day November 30, 2021


Open Price: $19.51
Closing Price: $18.86
Price Change: -0.95 (-4.796%)
Lowest Price: $18.617
Highest Price: $19.51

52-Week Low: $9.37
52-Week High: $24.98
52-Week Change: 106.10%

5 Day Price Change: -7.99%
1 Month Price Change: 10.25%
3 Month Price Change: 19.14%
6 Month Price Change: 26.58%
YTD Price Change: 93.16%
1 Year Price Change: 89.95%
2 Year Price Change: -17.71%
5 Year Price Change: -61.87%

Dividend of Trading Day November 30, 2021


Dividend Yield: 3.181%*
Annualized Dividend: $0.6*
Dividend Yield (TTM): 2.991%
Annualized Dividend (TTM): $0.5924
Ex-Dividend Date: 2021-11-08
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)


Funds From Operations (FFO)

Key Stats of Trading Day November 30, 2021


Total Cash: $117,596,000
Current Debt: $425,370,000
Revenue: $812,677,000
Gross Profit: $812,677,000
Total Revenue: $812,677,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $425,691,000
Revenue Per Share: $4
Revenue Per Employee: $1,102,683
Employee: 665
Debt to Equity Ratio (D/E): 2.74
Profit Margin: -0.20%
Enterprise Value (EV): $8,771,289,045
Enterprise Value to Revenue (EV/R): 10.79
Price to Sales (P/S): 5.19
Price to Book (P/B): 1.37
Price/Earnings-to-Growth (PEG) Ratio: 0.03
P/E Ratio: -21.43
P/E High: 327.46
P/E Low: 247.56
Forward P/E Ratio: -46.83
Market Capitalization: $4,017,890,268
Beta: 1.05
Latest Volume: 3,448,435
Avg. Total Volume: 3,075,255
Avg. 10-Day Volume: 2,449,588
Avg. 30-Day Volume: 3,075,255
TTM EPS: -0.88
Shares Outstanding: 213,037,660
Float: N/A
50-Day Moving Avg.: $19.75
200-Day Moving Avg.: $17.49

Latest REIT Community Comments on #MAC


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Properties Owned by MAC


Properties Based on REIT's Official Presentation

Properties Types States Countries
54 1 14 1

Please visit REIT’s official webpage for the most up-to-date property list.

MAC Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website

Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $25.94 per share you would have been able to buy 38 shares of MAC on 2020-12-01 costing $985.72 @ $25.94 per share you would have been able to buy 19 shares of MAC on 2020-12-01 costing $492.86 @ $25.94 per share you would have been able to buy 9 shares of MAC on 2020-12-01 costing $233.46 @ $25.94 per share you would have been able to buy 3 shares of MAC on 2020-12-01 costing $77.82 @ $25.94 per share you would have been able to buy 1 shares of MAC on 2020-12-01 costing $25.94
Current worth On 2021-11-30 these 38 shares would be worth $716.68 @ $18.86 On 2021-11-30 these 19 shares would be worth $358.34 @ $18.86 On 2021-11-30 these 9 shares would be worth $169.74 @ $18.86 On 2021-11-30 these 3 shares would be worth $56.58 @ $18.86 On 2021-11-30 these 1 shares would be worth $18.86 @ $18.86
Dividends earned $22.80 in dividends would have been earned since 2020-12-01 with 38 shares. $11 in dividends would have been earned since 2020-12-01 with 19 shares. $5.40 in dividends would have been earned since 2020-12-01 with 9 shares. $1.80 in dividends would have been earned since 2020-12-01 with 3 shares. $0.60 in dividends would have been earned since 2020-12-01 with 19 shares.
Net (gain / loss)* -246.24 USD -123.12 USD -58.32 USD -19.44 USD -6.48 USD
ROI** -24.98% -24.98% -24.98% -24.98% -24.98%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by MAC. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
MAC 2021-08-18 0.150 --- 2021-07-30 2021-08-19 2021-09-08
MAC 2021-05-06 0.150 --- 2021-04-29 2021-05-07 2021-06-03
MAC 2021-02-18 0.150 --- 2021-01-28 2021-02-19 2021-03-03
MAC 2020-11-06 0.150 --- 2020-10-29 2020-11-09 2020-12-03
MAC 2020-08-18 0.150 50.00% 2020-07-24 2020-08-19 2020-09-08
MAC 2020-04-21 0.100 -86.67% 2020-03-16 2020-04-22 2020-06-03
MAC 2020-02-20 0.750 --- 2020-01-31 2020-02-21 2020-03-03
MAC 2019-11-07 0.750 --- 2019-10-24 2019-11-08 2019-12-03
MAC 2019-08-16 0.750 --- 2019-07-25 2019-08-19 2019-09-06
MAC 2019-05-07 0.750 --- 2019-04-25 2019-05-08 2019-06-03
MAC 2019-02-20 0.750 --- 2019-01-31 2019-02-21 2019-03-01
MAC 2018-11-08 0.750 1.35% 2018-10-25 2018-11-09 2018-12-03
MAC 2018-08-16 0.740 --- 2018-07-26 2018-08-17 2018-09-07
MAC 2018-05-07 0.740 --- 2018-04-27 2018-05-08 2018-06-01
MAC 2018-02-20 0.740 --- 2018-01-26 2018-02-21 2018-03-02
MAC 2017-11-09 0.740 4.23% 2017-10-24 2017-11-10 2017-12-01
MAC 2017-08-16 0.710 --- 2017-08-04 2017-08-18 2017-09-07
MAC 2017-05-03 0.710 --- 2017-04-20 2017-05-05 2017-06-02
MAC 2017-02-16 0.710 --- 2017-02-09 2017-02-21 2017-03-03
MAC 2016-11-09 0.710 4.41% 2016-10-21 2016-11-11 2016-12-02

Financial Statements Overview


The next Earnings Report for MAC is 2022-02-10

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2021-06-30 2021-03-31 2020-12-31 2020-09-30
Current Cash 194,028,000 1,083,813,000 465,297,000 528,431,000
Receivables 186,254,000 227,829,000 240,806,000 234,934,000
Inventory 0 0 0 0
Current Assets 385,094,000 1,316,873,000 706,103,000 779,993,000
Current Assets (Other) 4,812,000 5,231,000 0 16,628,000
Short Term Investments 4,812,000 5,231,000 0 16,628,000
Long-term Investments 8,258,358,000 8,352,711,000 8,477,902,000 8,403,295,000
Property, Plant & Equipment Net 6,432,877,000 6,517,852,000 6,694,579,000 6,438,248,000
Goodwill 0 0 0 0
Intangible Assets 0 0 74,298,000 0
Other Assets 185,926,000 204,428,000 139,020,000 159,298,000
Net Tangible Assets 2,968,494,000 2,833,896,000 2,182,751,000 2,464,328,000
Total Assets 8,643,452,000 9,669,584,000 9,184,005,000 9,183,288,000
Accounts Payable 0 0 0 0
Liabilities (Other) 0 0 298,594,000 0
Current Liabilities (Other) 413,104,000 436,463,000 177,206,000 506,385,000
Total Current Liabilities 413,104,000 436,463,000 177,206,000 506,385,000
Current Long-term Debt 0 0 0 0
Long-term Debt 5,017,204,000 6,146,816,000 6,172,729,000 6,028,366,000
Total Liabilities 5,674,958,000 6,835,688,000 6,926,956,000 6,718,960,000
Minority Interest 158,452,000 163,409,000 188,211,000 184,209,000
Common Stock 205,757,000 158,580,000 149,763,000 4,601,966,000
Retained Earnings -2,469,336,000 -2,426,555,000 -2,339,619,000 -2,126,749,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 2,968,494,000 2,833,896,000 2,257,049,000 2,464,328,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2021-06-30 2021-03-31 2020-12-31 2020-09-30
Total Revenue 215,473,000 190,424,000 194,643,000 185,844,000
Cost of Revenue 0 0 0 0
Gross Profit 215,473,000 190,424,000 194,643,000 185,844,000
Research and Development 0 0 0 0
Selling General and Admin 6,679,000 8,087,000 7,687,000 7,589,000
Operating Expense 173,622,000 182,647,000 203,354,000 169,449,000
Operating Income 41,851,000 7,777,000 -8,711,000 16,395,000
Income Expense Net (Other) 0 0 0 0
EBIT 61,886,000 9,687,000 8,277,000 3,882,000
Interest Income 54,914,000 53,896,000 10,258,000 37,184,000
Pretax Income 3,045,000 -65,492,000 -204,607,000 -21,516,000
Income Tax 7,107,000 2,238,000 237,000 1,106,000
Minority Interest 7,703,000 -4,126,000 -14,426,000 -431,000
Net Income -11,979,000 -63,818,000 -190,632,000 -22,406,000
Net Income Basic -11,979,000 -63,818,000 -190,632,000 -22,406,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2021-06-30 2021-03-31 2020-12-31 2020-09-30
Net Income -11,979,000 -63,818,000 -190,632,000 -22,406,000
Depreciation 81,791,000 80,812,000 326,058,000 246,500,000
Changes in Receivables 186,254,000 227,829,000 240,806,000 -2,661,000
Changes in Inventories 0 0 0 0
Cash Change 194,028,000 1,083,813,000 465,297,000 30,850,000
Cash Flow 60,808,000 52,219,000 59,710,000 65,127,000
Capital Expenditures -28,195,000 -23,472,000 -23,143,000 -64,426,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows 31,202,000 73,739,000 -50,712,000 -84,019,500
Dividends Paid 0 0 0 0
Net Borrowings 4,818,364,000 5,057,772,000 5,707,432,000 5,483,307,000
Cash Flow Financing -105,150,000 542,451,000 -38,802,000 485,256,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

About Macerich Company


An S&P 500 company, Macerich is one of the country's leading owners, operators and developers of major retail real estate (NYSE:MAC). Macerich is different. Our unique and irreplaceable properties and dominant position in the nation's gateway markets — the most affluent and densely populated with significant international appeal — set the company apart. Macerich currently owns 54 million square feet of real estate consisting primarily of interests in 48 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
0 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.6
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.4
Rating AFFO & Efficiency Section Avg. Rating
8 FFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.9
10 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 8.6
10 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 9.1
Rating Leverage Section Avg. Rating
10 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 7.4
10 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 8.8
9 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.9
10 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.4
3 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.0
4 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.8
Rating Asset & Revenue Section Avg. Rating
3 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 5.4
6 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 6.1
Rating Properties Section Avg. Rating
7 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.1
4 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 6.3
8 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
Rating Market Cap Section Avg. Rating
4 Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. 5.2
6.3 Overall REITRating™ Score (See trend) 6.1

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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Last updated: 2021-12-01 - v2.4