SANTA MONICA, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE: MAC) (the “Company” or “Macerich”) today announced that Daniel E. Swanstrom II will become the Chief Financial Officer of Macerich effective on November 16, 2024. “I am very pleased to welcome Dan to Macerich,” said Jack Hsieh, Macerich’s CEO. “Dan brings an excellent background to Macerich with over 20 years of experience in real estate, both as a CFO of two public REITs and as a former investment banker with Morgan Stanley ...

In its upcoming report, Macerich (MAC) is predicted by Wall Street analysts to post quarterly earnings of $0.40 per share, reflecting a decline of 9.1% compared to the same period last year. Revenues are forecasted to be $219.69 million, representing a year-over-year increase of 0.7%.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this ...

SANTA MONICA, Calif., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of major retail properties in top markets, has earned the #1 ranking among all U.S. retail in the GRESB Real Estate Assessment for the 10th consecutive year. Macerich ranked #3 in Retail, Americas, and earned the prestigious GRESB Green Star rating based on absolute performance. “GRESB and our peers raise the bar every year. We appreciate this comprehensive assessment of ...

BioStem Technologies Initiates Nationwide Launch of Vendaje AC® with Venture Medical Following Established Reimbursement in All Medicare Administrative Contractor (MAC) Regions The pricing announcement from the Center for Medicare Services became effective on October 1, 2024, and allows BioStem to begin marketing initiatives with Venture Medical POMPANO BEACH, Fla., October 29, 2024 – PRISM MediaWire – BioStem Technologies Inc. (OTC: BSEM), a leading MedTech company focused on the development, manufacture, ...

5.37% Fixed Rate for 5 Years, Interest Only, on $525M Loan Lowest Refi Rate Achieved by Company in Past 5 Years SANTA MONICA, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Macerich (NYSE: MAC), one of the nation's leading owners, operators and developers of major retail properties in top markets, today announced that it has refinanced fortress property Queens Center at highly favorable terms with a new $525 million loan bearing fixed interest of 5.37% and interest-only payments during the entire term. "We are p ...

Group 1 - The Macerich Company (NYSE: MAC) is a REIT that specializes in malls and shopping centers, currently yielding about 3.8%, which is lower than the typical yield of 4.5% to 5% for many REITs [1] - The investment approach focuses on long-term ownership rather than short-term price predictions, emphasizing valuations over target prices [1] - The author transitioned from writing many Sell pieces to a simplified approach of "Buy or Don't Buy," with future articles likely to be categorized as Buy or Hold [1] Group 2 - The author has no current stock or derivative positions in any mentioned companies and has no plans to initiate any within the next 72 hours [2] - The article expresses the author's personal opinions and is not influenced by any business relationships with the companies discussed [2]

Core Viewpoint - Macerich's recent earnings report shows mixed results, with FFO per share exceeding estimates while revenues fell short, leading to concerns about future performance and potential pullbacks in stock value [2][3][10]. Financial Performance - FFO per share was reported at 44 cents, surpassing the Zacks Consensus Estimate of 40 cents, and reflecting an 18.9% increase from the previous year's 37 cents [2]. - Quarterly revenues reached $215.5 million, slightly higher than the $212.4 million from the same quarter last year, but missed the Zacks Consensus Estimate of $219 million [3]. - Same-center NOI, including lease termination income, increased by 1.38% year over year to $183 million [4]. Leasing Activity - During the quarter, Macerich signed leases totaling 0.75 million square feet, which represents a 47% year-over-year decrease in leased square footage [5]. - The decline in leasing activity is attributed to unusually high leasing activity in the second quarter of 2023, which included significant renewals with major retailers [5]. Occupancy and Rent Trends - As of June 30, 2024, portfolio occupancy was reported at 93.3%, a slight decrease of 10 basis points from the previous period [6]. - Base rent re-leasing spreads for the 12 months ended June 30, 2024, were 10.1% higher than the expiring base rent [6]. Balance Sheet and Liquidity - As of July 31, 2024, Macerich had approximately $612 million in liquidity, including $465 million available on its $650 million revolving line of credit [7]. - The company reported total net debt of $6.4 billion, with a net debt to adjusted EBITDAre ratio of 8.48X [7]. Market Sentiment and Outlook - Estimates for Macerich have trended downward over the past month, indicating a negative sentiment among analysts [8][10]. - The stock currently holds a Zacks Rank of 5 (Strong Sell), suggesting expectations of below-average returns in the coming months [10].

Macerich (MAC) reported funds from operations (FFO) per share of 44 cents, which beat the Zacks Consensus Estimate of 40 cents. Moreover, the figure increased 18.9% from the year-ago quarter's 37 cents. This retail REIT experienced an increase in same-center net operating income (NOI), including lease termination income, from the prior-year period. Although the shares of MAC declined 4.3% during yesterday's regular trading session on the NYSE, they were trending upward in the initial trading session today b ...

aimintang Macerich (NYSE:MAC) is currently trading hands for 10.2x its annualized fiscal 2024 second-quarter funds from operation of $0.39 per share, following a 26% rally of its commons over the last 1 year. The retail REIT last declared a quarterly cash dividend of $0.17 per share, kept unchanged from the previously declared payout and $0.68 per share annualized for a 4.3% dividend yield. FFO per share for the second quarter dipped by 1 cent from its year-ago comp. I own a position in Simon Property Group ...

Core Viewpoint - The Macerich Company is undergoing significant changes to improve its financial health by divesting non-core assets and reducing debt, despite facing challenges such as tenant bankruptcies and high leverage levels [3][5][7]. Financial Performance - In Q2 2024, the FFO per share was $0.39, which is $0.01 lower than Q2 2023, attributed to flat sales and rising interest expenses [5]. - Occupancy levels decreased by 10 basis points to 93.3% compared to the previous quarter, although it increased by 70 basis points year-over-year [5][6]. - The company faced seven tenant bankruptcies, with Express being the largest, affecting 206,000 square feet of its portfolio [5]. Asset Management and Strategy - The company has committed 76% of the expiring square footage for 2024 and signed letters of intent for an additional 18% [6]. - In Q2, Macerich sold an Outparcel deal for $7.1 million and divested its 50% interest in Biltmore Fashion Park for $110 million, contributing to a debt reduction of approximately $564 million [6]. - The management aims to reduce outstanding debt by $1 billion to $1.4 billion by the end of 2024, with a target to retire $1 billion of debt this year [6]. Market Position and Outlook - The financing market for Class A retail real estate remains strong, with Macerich closing five transactions totaling nearly $700 million year-to-date in 2024 [6]. - Despite positive steps in balance sheet optimization, the current leverage remains high at 8.48x, down from 8.76x, with expectations to further reduce it to the low 8x range by the end of 2024 [6][7].