At $1.03 billion market cap, The Macerich Company (NYSE:MAC) is a leader in shopping mall real estate ownership. Malls and physical retail were already experiencing a declining trend before COVID-19. Now, the future of shopping real estate is even more uncertain. Based on fundamentals, our long-term recommendation is to underweight. However, be on guard for a potential short squeeze as this could send the price in a violent move upwards, making Macerich a speculative buy if the price breaks resistance levels.
A company in the podium of retail real estate ownership
The company is widely considered the 3rd largest shopping center owner & operator in the United States. With 52 prime properties, Macerich manages high-quality malls from coast to coast in top locations. The company classifies its properties in three segments: 32 major markets, 17 regional centers, and 3 outlets.
One third of the revenues come