MacerichNYSE: MAC

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.

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.

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.

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's (MAC) Q2 results reflect an increase in same-center net operating income. The company also continues with its portfolio quality refining and balance sheet improving efforts.

Macerich (MAC) came out with quarterly funds from operations (FFO) of $0.44 per share, beating the Zacks Consensus Estimate of $0.40 per share. This compares to FFO of $0.40 per share a year ago.

SANTA MONICA, Calif., July 26, 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 September 9, 2024, to stockholders of record at the close of business on August 19, 2024.

Laing Previously Served on Macerich Board from 2003-2022; Was Board Member at Spirit Realty Capital During Macerich President and CEO Jackson Hsieh's Successful Tenure at the Company Laing Previously Served on Macerich Board from 2003-2022; Was Board Member at Spirit Realty Capital During Macerich President and CEO Jackson Hsieh's Successful Tenure at the Company

SANTA MONICA, Calif., June 26, 2024 (GLOBE NEWSWIRE) -- WHAT: Macerich (NYSE: MAC) Schedules Second Quarter 2024 Earnings Release and Conference Call WHEN: Earnings Results will be released before market open on Wednesday, July 31, 2024.