The Macerich Company Overview
Pro stress-test →Macerich is a leading owner, operator, and developer of high-quality retail real estate concentrated in densely populated U.S. markets, with a portfolio of 39 million square feet consisting primarily of interests in 38 retail centers. The company operates as a fully integrated, self-managed, self-administered real estate investment trust (REIT).
Strategic Profile
Pro stress-test →Over 20 years, the company has sold $5 billion in lower-quality assets and recycled capital into acquiring Class A malls, positioning it better to face e-commerce headwinds through higher tenant sales productivity and occupancy levels. Management expects to continue improving the portfolio through redevelopment, opportunistic acquisitions, and asset sales.
Competitive Landscape
Pro stress-test →Macerich competes in the premium regional mall REIT sector alongside Simon Property Group (SPG), Kimco Realty (KIM), and Regency Centers (REG). The company differentiates through its focus on Class A assets in high-demographic markets and active portfolio management. Structural e-commerce pressures affect the entire sector, but Macerich's upgraded portfolio and strategic positioning provide relative advantages.
Industry Context
The Macerich Company operates in Real Estate Investment Trusts (REITs) - Retail Shopping Centers.
Key facts
Headquarters: Santa Monica, California · Revenue: $899.3M · Market cap: $3.6B