| Market Capitalization (Millions $) |
5,950 |
| Shares
Outstanding (Millions) |
258 |
| Employees |
598 |
| Revenues (TTM) (Millions $) |
1,006 |
| Net Income (TTM) (Millions $) |
-187 |
| Cash Flow (TTM) (Millions $) |
-74 |
| Capital Exp. (TTM) (Millions $) |
365 |
Business Description
The Macerich Co. is a real estate investment trust (REIT) that primarily focuses on the acquisition, development, and management of premium shopping centers in the United States. Macerich has a portfolio of high-quality properties located in major retail markets throughout the country, spanning from coast to coast. The company was founded in 1964 and is headquartered in Santa Monica, California.
Macerich's portfolio consists of 51 regional shopping centers, totaling approximately 48 million square feet of gross leasable area. The company's portfolio includes some of the most iconic and best-performing shopping centers in the US, such as Tysons Corner Center in Virginia, Scottsdale Fashion Square in Arizona, and Santa Monica Place in California.
The company's properties are leased to over 3,000 tenants, including national retailers, local specialty stores, and unique dining and entertainment concepts. Macerich's tenant mix is diverse, with a focus on providing experiences that cannot be replicated online. The company has been successful in attracting high-quality tenants, including Apple, Microsoft, Abercrombie & Fitch, Victoria's Secret, H&M, Nordstrom, and others.
The company's business model is focused on acquiring and developing shopping centers in major retail markets with high barriers to entry. Macerich's approach is to create a unique shopping experience by blending retail, dining, and entertainment options. The company's properties are typically located in urban and suburban areas with high population density, strong demographics, and significant foot traffic.
Macerich encourages sustainability in its operations and properties. The company has made significant efforts to reduce its environmental footprint by implementing energy-efficient building systems, using renewable energy sources, reducing water consumption, and promoting recycling programs. Macerich has been recognized as a leader in sustainability in the real estate industry.
In recent years, Macerich has been affected by the shift in consumer behavior towards online shopping. The company has responded by investing in technology initiatives, such as digitizing its properties and developing mobile apps, to enhance the shopping experience for its customers. Macerich has also focused on redeveloping its properties to incorporate mixed-use elements, including residential, hospitality, and office spaces, to attract a more diverse customer base.
In conclusion, the Macerich Co. is a leading REIT that acquires, develops, and manages premium shopping centers in major retail markets throughout the United States. They are known for their high-quality properties, diverse tenant mix, and sustainability efforts. Despite facing challenges due to changing consumer behavior, the company has adapted well and continues to invest in technology and redevelopment to enhance the shopping experience for its customers.
Company Address: 401 Wilshire Boulevard, Santa Monica, 90401 CA
Company Phone Number: 394-6000 Stock Exchange / Ticker: NYSE MAC
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