What's Behind This New $4 Million Bet on a Beaten-Down Mall Owner Lagging the Broader Market?

1 day ago 3

Jonathan Ponciano, The Motley Fool

Fri, January 16, 2026 astatine 9:12 AM CST 4 min read

California-based Triad Investment Management bought 206,916 shares of Macerich successful the 4th quarter; the estimated transaction worth was $3.82 cardinal based connected quarterly mean pricing.
Meanwhile, the quarter-end presumption worth accrued by $3.82 cardinal arsenic a effect of the caller purchase.
The money present holds 206,916 MAC shares valued astatine $3.82 cardinal arsenic of December 31.
These 10 stocks could mint the adjacent question of millionaires ›

California-based Triad Investment Management initiated a caller involvement successful Macerich (NYSE:MAC) during the latest quarter, buying 206,916 shares successful a commercialized estimated astatine $3.82 cardinal based connected quarterly mean pricing, according to a Thursday SEC filing.

According to an SEC filing released Thursday, Triad Investment Management disclosed a caller presumption successful Macerich, acquiring 206,916 shares during the quarter. The estimated transaction worth for the acquisition is $3.82 million, calculated utilizing the quarter’s mean stock price.

The caller presumption for Triad present accounts for 3.87% of the fund’s 13F reportable assets nether management.

Top holdings aft the filing:

NASDAQ:WBD: $9.38 cardinal (9.5% of AUM)
NASDAQ:GOOGL: $6.48 cardinal (6.6% of AUM)
NASDAQ:ROP: $5.41 cardinal (5.5% of AUM)
NYSE:WTM: $5.29 cardinal (5.4% of AUM)
NASDAQ:VGSH: $5.16 cardinal (5.2% of AUM)

As of Thursday, Macerich shares were priced astatine $18.32, down 2.8% implicit the past twelvemonth and good underperforming the S&P 500 by astir 19.53 percent points.

Metric

Value

Price (as of Thursday)	$18.32
Market Capitalization	$4.69 billion
Revenue (TTM)	$1.03 billion
Dividend Yield	3.71%

Macerich owns, leases, manages, and redevelops determination buying centers, with a portfolio of 37 determination retail centers totaling 39 cardinal quadrate feet.
It operates arsenic a afloat integrated existent property concern spot (REIT), generating gross chiefly from rental income, tenant leases, and spot absorption fees.
The steadfast serves nationalist and determination retailers, with a absorption connected densely populated U.S. metropolitan markets specified arsenic the West Coast, Arizona, Chicago, and the Northeast corridor.

Macerich is simply a starring retail REIT specializing successful high-quality determination malls crossed large U.S. markets. The institution leverages a afloat integrated level to acquire, lease, and negociate retail existent estate, emphasizing properties successful attractive, high-density locations. Macerich's strategical absorption connected sustainability and operational excellence supports its competitory presumption successful the retail spot sector.

Buying into a retail REIT aft a prolonged agelong of volatility and underperformance suggests a willingness to thin into Macerich’s fundamentals adjacent portion sentiment remains skeptical. That stands retired successful a marketplace inactive dominated by growth-heavy allocations and short-duration trades.

Macerich owns a concentrated portfolio of high-quality determination malls successful dense coastal and Sun Belt markets, a illustration that continues to substance arsenic retailers prioritize fewer, much productive locations. Recent results showed dependable leasing momentum and improving tenant income trends, adjacent arsenic higher involvement rates kept unit connected REIT valuations. Management has remained focused connected equilibrium expanse subject and plus quality, which helps explicate wherefore the banal has held up operationally contempt lagging the broader market. The steadfast posted a nett nonaccomplishment of $87.4 cardinal successful the 3rd quarter, paring backmost losses from $108.2 cardinal a twelvemonth earlier.

The Macerich presumption besides fits cleanly wrong Triad’s broader portfolio, which blends media, technology, industrials, and short-duration fixed income exposure. At nether 4% of reported assets, this is not a swing-for-the-fences bet. It looks much similar a selective allocation to a misunderstood plus people with embedded optionality if rates stabilize and superior markets reopen.