Profile
Sector:
Real EstateIndustry:
RetailCountry:
United StatesIPO:
10 March 1994Website:
http://www.macerich.comNext earnings report:
07 February 2025Last dividends:
12 November 2024Next dividends:
N/APrice
after hours | Fri, 15 Nov 2024 22:16:11 GMTAnalysts recommendations
Institutional Ownership
MAC Latest News
MAC's Q3 performance reflects a year-over-year increase in interest expenses. However, same-center NOI, including lease termination income, rises.
The headline numbers for Macerich (MAC) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Macerich (MAC) came out with quarterly funds from operations (FFO) of $0.38 per share, missing the Zacks Consensus Estimate of $0.40 per share. This compares to FFO of $0.44 per share a year ago.
Dan Swanstrom Named as Chief Financial Officer of The Macerich Company Dan Swanstrom Named as Chief Financial Officer of The Macerich Company
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Macerich (MAC), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended September 2024.
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.
What type of business is Macerich?
Macerich Company is an American real estate investment trust. Founded in 1964, it operates as a REIT fund. The business of Macerich includes acquiring, owning, developing, redeveloping, managing, and leasing real estate properties throughout the United States. The company owns shopping centers in all major cities, with the largest number of properties located in California and Arizona. Nine shopping centers are located in New York, New Jersey, and Connecticut.
What sector is Macerich in?
Macerich is in the Real Estate sector
What industry is Macerich in?
Macerich is in the Retail industry
What country is Macerich from?
Macerich is headquartered in United States
When did Macerich go public?
Macerich initial public offering (IPO) was on 10 March 1994
What is Macerich website?
https://www.macerich.com
Is Macerich in the S&P 500?
No, Macerich is not included in the S&P 500 index
Is Macerich in the NASDAQ 100?
No, Macerich is not included in the NASDAQ 100 index
Is Macerich in the Dow Jones?
No, Macerich is not included in the Dow Jones index
When was Macerich the previous earnings report?
No data
When does Macerich earnings report?
The next expected earnings date for Macerich is 07 February 2025