Macerich's trimmed portfolio makes it more manageable while facing tough headwinds.
A mediocre finish to the year coupled with lackluster guidance and rising rates caused the continued slump in Macerich’s stock price, settling below $60 per share after a rough start to the year. We’ve been outspokenly bearish on physical retail REITs for the past several months, and we view the unexpectedly sharp rise in Treasuries as particularly dangerous for this asset class. While some other REITs we cover can rely on operating cash flows to fund a good portion of development and redevelopm...Macerich is a self-administered and self-managed real estate investment trust. The company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers. The company is the sole general partner of, and owns a majority of the ownership interests in, The Macerich Partnership, L.P. (the Operating Partnership). The Operating Partnership owns or has an ownership interest in regional shopping centers and community/power shopping centers. The company conducts all of its operations through the Operating Partnership and its management companies, including Macerich Property Management Company, LLC and Macerich Management Company.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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