Macerich Stock News

Leading Retail REIT Again Recognized by Respected Sustainability Assessment for Industry-Leading Commitment to Performance and ESG Practices Leading Retail REIT Again Recognized by Respected Sustainability Assessment for Industry-Leading Commitment to Performance and ESG Practices

SANTA MONICA, Calif., Oct. 31, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of the Macerich Company (NYSE: MAC) declared a quarterly cash dividend of $.17 per share of common stock. The dividend is payable on December 2, 2024, to stockholders of record at the close of business on November 12, 2024.

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 ...

Macerich is a REIT focused on malls and shopping centers, currently yielding 3.8%, with no clear growth story. Management aims to reduce debt by $2B through asset sales, but this likely means revenue and cash flows will decline in the near term. E-commerce growth and the shift from brick-and-mortar retail present significant challenges, making MAC's turnaround and profitable growth uncertain.

SANTA MONICA, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- WHAT: Macerich (NYSE: MAC) Schedules Third Quarter 2024 Earnings Release and Conference Call

REITs are proven long-term wealth compounders with the benefits of real estate investing, economies of scale, and diversification. However, there are several important aspects of REIT investing that many investors fail to take into account. We discuss four key lessons that investors should keep in mind when investing in REITs.

MAC reported FFO numbers for its second quarter that dipped 1 cent per share year-over-year. The dividend is 230% covered by FFO but still sits almost 80% below its pre-pandemic level. Management has not made it clear that their path forward plan intends to boost the capacity for more substantial dividend payouts.

Macerich Company delivered solid Q2, 2024 quarter, especially when it comes to the deleveraging front. The asset disposals so far (including those which are under negotiations) explain already 50% of the $2 billion debt recution target. The business performance was relatively solid, where the FFO per share dropped only by $0.01, which could be viewed positively given the multiple pressures.