SPG - Why Macerich Stock Rallied as Much as 24% This Week
Shares of mall-focused real estate investment trust Macerich (NYSE: MAC) advanced by as much as 24% this week, according to data from S&P Global Market Intelligence . At the start of trading on Friday, the stock was still higher by around 20% or so. Credit earnings reports for its upward move -- and not just the report delivered by Macerich.
Macerich is one of the best-positioned mall landlords in North America. It has a relatively small portfolio of around 45 properties, but they're very well located and very productive. Although Simon Property Group (NYSE: SPG) is much larger, it's probably Macerich's closest peer comparison. And while Tanger Factory Outlet Centers (NYSE: SKT) focuses on outlet centers, based on its successful track record and well-located assets, it's also viewed as a key competitor. (Macerich owns a couple of outlet centers, but it's mostly focused on malls.)
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Why Macerich Stock Rallied as Much as 24% This Week