2024-02-09 01:15:16 ET
Summary
- The Macerich Company's stock has maintained strong momentum, outperforming its peers in the retail real estate market.
- The company's net operating income grew by 4.5% in 2023, indicating strong demand for its properties.
- The growth rate is expected to decelerate in 2024, and the company's high debt and short maturity life will put pressure on its cash flows.
- Given the recent expansion in the multiple and grim outlook on the underlying cash generation end, MAC Stock is not a solid bet.
Back in late Summer 2023, I issued an article on The Macerich Company (MAC) downgrading the Stock to a hold due to a massive price surge and relatively stable Q2, 2023 results....
Read the full article on Seeking Alpha
For further details see:
Macerich: Q4 And Guidance Imply That Upside Is Exhausted