Macerich (MAC) Stock Trades At A Discount To Cash Flow

Macerich has delivered a powerful share price recovery in recent years, and that kind of rebound naturally raises a question about whether the current US$22.25 level is adequately backed by its cash flows. With the spotlight on what investors are paying today, the key issue is how those cash flows stack up against the present valuation. Over the past 3 years, Macerich has returned 130.7%, which puts a lot of weight on whether its cash flows can carry that kind of share price reset. The...