Re: [標的] 美股MAC- 後疫情的美國A級商場

[Tox (建立被動收入撲滿)]

※ 引述《Tox (建立被動收入撲滿)》之銘言：
: 之前所寫購物商場其他相關文章 供參考
: https://www.ptt.cc/bbs/Stock/M.1603458088.A.605.html
: https://www.ptt.cc/bbs/Stock/M.1607149885.A.F2F.html
: 我個人是覺得此時不便宜，雖然也不貴，但是肉普通而已
: 我其中一個戶頭先賣了一些了 隨意掛了一個不可能的價格21
: 醒來居然成交了
: http://i.imgur.com/GU7JhNr.jpg

最近一些事件讓我覺得經營者能力真的ooxx，讓MAC這種A級Mall股價上不大去
(SKT是B級mall 股價已經上去)
而且動不動就有一些小道消息說貸款談判沒有很順，這類謠言經營者應該大力澄清。

去年12月 經營者有些錢亂花
https://www.phillyvoice.com/
fashion-district-owner-preit-macerich-philadelphia-bankruptcy-deal/
縮網址 https://tinyurl.com/58y6t6fj

As part of the deal, Macerich paid off $100 million of the $301 million PREIT
owes in property debt to Wells Fargo, according to the Inquirer. PREIT, which
emerged from bankruptcy last week, will surrender control of most major
operations, though the companies will retain their 50/50 partnership.

這個物產MAC與PEI各持有50%的所有權，去年底PEI財務很不妙，
MAC去幫忙付了一億美金，卻....沒增加所有權，只多了主導權。
錢不該是這樣花的吧~


https://www.prnewswire.com/news-releases/
macerich-substantially-improves-and-clarifies-liquidity-position-301256554.
html
Mar 26, 2021
縮網址 https://tinyurl.com/2vmp8d4w
 Today, the Macerich Company (NYSE: MAC, the "Company") announced certain
major capital events and other updates.

Through March 25, 2021, the Company has sold 36.0 million shares of common
stock under its "at the market" equity program at a weighted average price of
$13.54 per share, generating gross proceeds of approximately $487.3 million.
As of March 25, 2021, approximately 1.0 million shares remain available to be
issued under the program.

The Company is under contract to sell a 95% interest in Paradise Valley Mall,
a non-core asset in Phoenix, AZ, for $100 million to a newly formed joint
venture. The transaction is expected to close in late March 2021, and is
anticipated to generate net proceeds of approximately $95 million to the
Company. The Company will retain a 5% joint venture interest in this
multi-year redevelopment.
之前負債比微偏高的的問題:15億美金的貸款,
透過發行增資股約每股 13.5  來籌資 (原本帳上也有四五億美金)  還有賣掉一些資產
經營者的操作不大漂亮
MAC偏低的價格, 其實可以洽特定人增資, 溢價20%以上甚至30%，每股15以上籌資,
這樣股權稀釋也會少一點


因為股權會稀釋20%以上，因此每股FFO也會往下掉，因此股價要上20沒那麼簡單。
我的持有成本不高，所以年底或者明年初，不論價格多少，我會獲利了結。

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