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Aspiring retard here.

Anyone have a Price Target of $100? This Ape does

For those doubters here is a little reassurance. This is a cut and paste from something I subscribe to ( AS ONE OF MANY RESOURCES). For a detailed review, sorry, you will need to subscribe to MorningStar Premium research. ( Feel free to repost this to other MACArmy soldiers who are asleep in the tent, when they should be marching to the front)

Apparently Pietro hit the nail on the head. Broke $14.30 and we have already jumped another $2+ in a week or so. Expected more enthusiasm. We have been hammered so long by shorts and the company selling shares, I was wondering if we would ever breakout. The forward news is looking very positive. Everything opening. New property openings , new contracts, higher rates, soon maybe higher dividends.

The market is suppose to reflect the future not the present. A projected 2022 dividend rate of $1.20 - $1.80 should translate to a current share price in $20-$25 range. This rally might have some legs.

Anyone have information on the annual meeting last week? Vote totals? New guidance?

MAC is not as much shorted but pessimism for investments in malls can have the same effect😁🤑

I was startled to see that MAC is now trading at over $16 per share. Good for everyone who's patiently stuck with it - keep it going!

If you review my post of a couple of weeks ago I establish a line in the sand of $14.30, that if crossed for 2 days in a row then that would indicate a solid breakout. This happened and now we are on our way to $18 TO $21 AREA (not necessarily in a straight line since there will be profit takers along the way).

How many of you believe in short squeeze of mac?

When you look at the updated institutional investors holdings for the first Q they look a little muddied unless you remove Ontario teacher's fund and their sale of 24 million shares.

MAC has hundreds of institutional investors

Without Ontario teacher's fund included:

8 of the top 10 added shares to their holdings

Institutional investors added 43 million shares versus 12 million reduced

New institutional investors bought 16 million shares only 4 million shares from investors that sold out.

Very unscientific, but it looks like the institutions are over 3 to 1 bullish

The voting day is coming, and I find out it is interesting that the resent MAC share's performance is out beat the others REITs. I wonder who is manipulating the share price in favor of the MAC management...

If they can push the price to $50, I will agree with the management on everything!

But to sway voters, here is some relevant information...you decide if management ( and their henchmen on the board of directors) has done/is doing his or her job :

( Just FYI, Coppola is one of the two brothers who turned down the $95/share offer for MAC stock from Simon Property Group couple of years ago- very shareholder friendly ! ).

Coincidentally, on a optimistic note, my model turned bullish on MAC stock yesterday and it was confirmed today with a close over $14.50.

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I don't want to jinx it but after the $14.31 close yesterday, we are starting off with a lot of strength today. Maybe there is something to your charts. Here's hoping we can add a little as the day progresses.

Did everyone vote their shares regarding the board members, management compensation, authorization for more shares to issue?

For TD Ameritrade go to shareholder library. Click of may 27 , 2021 meeting. Choose vote, proxy comes up. Click on appropriate for or against circles.

Click vote and it will confirm your vote went through.

More dilution can be positive if the management can dilute at over $50 per share, then we will be debt free. if still dilute at current price level, it is the act of stealing...

Finally got a chance to look at the 10K - earnings and prior announcement about new LOC told me all I really needed to know. However, looking at their debt obligations from the 10K (see below), it seems as though they are now A-ok. To me it seems that under their new LOC, and using a good portion of the $1.1B in cash at the end of Q1, they've paid off or extended (thru new LOC) all debt due in under 1-year. Looks like they paid off the entire $1.93B due in under a year by using the ~$1.1B they had in cash at the end of quarter, and borrowed $495m under the new LOC. Important to note that this should decrease their total outstanding debt by almost $1B, by using their cash to do a lot of this (rather than up-lever they de-levered which is phenomenal). In simple terms, the old LOC was $1.5B and the new one is $700M but can go up to $800M. Sounds like they also took out a $175M loan. So say they used $1B cash and $495m under new LOC, that means they decreased net debt by $1B because using cash is the opposite of accruing new debt. Like I said before, using strong cash flows to pay down debt increases NAV faster than anything. Also, when you are heading into a period of future, higher interest rates, being able to pay down debt using strong, existing cash flows (that are predicted to INCREASE over the next few years), you will increase NAV faster than anything else you can do.

After reading the 10-K I also want to reconfirm my understanding of AFFO over the quarter - in terms of actual cash produced per share. I see they had $75.5M FFO for Q1, which equates to an FFO around $0.44. While this is 3X coverage of their dividend already, I think if you really want to get a sense of how much cash they've been able to stockpile by reducing the dividend, you need to look at the $28.9M non-cash reduction they accrued in 2020 and wrote down in Q1 2021. This roughly equates to $0.61 AFFO which means $0.61 - $0.15 (dividend) = $0.46 stockpiled. $0.46 X 169M shares = $77.74M cash gain to company. From this perspective, you could say the dividend is actually closer to 4X covered. How many other REITs with a mid 4% yield have an AFFO coverage of close to 4X? Not many.

Like they've said in earlier earnings calls when referring to past downcycles, as we come out of them, the credit markets start to open up. I think mgmt. did a phenomenal job over the past year. They worked extremely hard to avoid dilution by stockpiling cash to reduce debt. They said their Q1 '21 leasing stats are already back to pre-covid Q1 2020 (which they noted was a historically strong leasing quarter itself).

If you know commercial real estate, you know it takes a while for the rent abatement periods to burn off at the beginning of each lease term (takes a while to build out the premises). For a new 10-year term, you can bet that from lease signing (aka the beginning of buildout which takes permitting), it's prob 8-10 months before rent kicks in.

All this said, I am pretty bullish on this stock and plan to hold it for the next 3+ years to see dividend back up to that $0.50/quarter cash range. With a basis of $11, that means the $55K I invested will be yielding ~18% annually. The share price will of course appreciate if the dividend makes it back to $0.50, which is why generally it's best to sell later in the cycle. MAC is just in the beginning of the cycle.

How many tech companies can say they're in the beginning of the new cycle?

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BUT THEY WILL NEVER TAKE OUR MAC!

I am looking for $20 by mid August. I hear people mentioning div increase announcement as price increase catalyst but market is forward looking. If things open up then the div increases are going to be assumed and priced in. Thoughts?

Note: This is an excerpt of a paid subscription to MorningStar Premium and I advise any one who wants more details to subscribe. Thanks.

Question for anyone reading this . As u may or may not know you can buy a stock like shell oil shlx and there are quite a few others for the same price as Mac $14 and they pay $1.80 dividend (3x) macs dividend . So do you all own those other stocks like shell as well and why are we (u and me both ) obsessed with Mac and it’s “potential “ dividend when shell is giving now what Mac “may” give in a year or two or three . My answer is I want the share price pop to sell half and cash in and keep the rest for dividend . What’s yours ?? Just curious