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].

This quarterly report represents an FFO surprise of 10%. A quarter ago, it was expected that this shopping center real estate investment trust would post FFO of $0.39 per share when it actually produced FFO of $0.31, delivering a surprise of -20.51%. Macerich, which belongs to the Zacks REIT and Equity Trust - Retail industry, posted revenues of $215.52 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.59%. This compares to year-ago revenues of $212.37 million. The company h ...

During the second quarter, we unveiled our Path Forward Plan, followed by significant investor outreach. We are pleased with the feedback we received on what we believe is a very executable, multi-pronged strategy to improve our balance sheet, and also to make inward-facing enhancements to both bolster company culture and improve key business processes to gain operating efficiencies. We are fully engaged in implementing numerous aspects of the Path Forward Plan. Balance Sheet: The Macerich Company Earnings ...

With the addition of Ms. Laing, Macerich's Board will have eight directors, seven of whom are independent. Ms. Laing's areas of expertise include corporate strategy, risk management, public equity and corporate debt offerings, finance and capital markets, corporate governance and sustainability matters, investor relations, together with extensive knowledge of IT and cybersecurity, including cybersecurity assessments, controls, protocols, monitoring and incident response, obtained through the responsibility ...