With that in mind, let's take a closer look at Macerich's business and see what CAPS investors are saying about the stock right now.
Macerich facts
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Headquarters (Founded)
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Santa Monica, Calif. (1965)
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Market Cap
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$2.8 billion
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Industry
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Retail REIT
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Trailing-12-Month Revenue
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$960.9 million
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Management
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CEO Arthur Coppola (since 1993)
CFO Thomas O'Hern (since 1994)
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Return on Capital (Average, Past 3 Years)
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2.8%
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6-Month Return
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103.7%
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Cash / Debt
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$58 million / $5.96 billion
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Competitors
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Simon Property Group (NYSE: SPG)
Taubman Centers (NYSE: TCO)
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CAPS Members Bearish on MAC Also Bearish on
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Developers Diversified Realty (NYSE: DDR)
Lennar (NYSE: LEN)
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CAPS Members Bullish on MAC Also Bullish on
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Bank of America (NYSE: BAC)
Citigroup (NYSE: C)
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Sources: Capital IQ (a division of Standard & Poor's) and Motley Fool CAPS.
On CAPS, 63.3% of the 278 members who have rated Macerich believe
the stock will underperform the S&P 500 going forward. These bears
include All-Stars wuff3t and DarthMaul09, both of whom are ranked in the top 10% of our community.
Just four days ago, wuff3t tapped Macerich as a particularly poor
way to get rich: "Commercial real estate seems to be the least
promising sector I can find right now. Combine that with the dreadful
numbers (check its ratios) and this company looks a poor bet for the
next year (and probably longer)."
In a pitch from one day earlier, DarthMaul09 expands on some very real risks:
Commercial real estate is on shaky ground, if the
recovery is real property values may hold, but more likely they won't.
Just my opinion, but has everyone else forgotten the fall of 2008?
History may not repeat itself exactly, but are we less in debt than we
were last year? Has unemployment improved? Will taxes go down? All
answers point -- NO. Revisiting old favorites. Waiting for the
government to spook the market again before halloween.
© 2009 UCLICK, L.L.C.
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