MAC Stock Recent News

Macerich Company's Q1 2024 earnings report caused a significant drop in stock price, raising concerns about the overall investability here. The company's performance was below expectations, with FFO per share coming in lower than the previous year and guidance. The report highlighted struggles with Express bankruptcy, increased extraordinary costs, and a strategic shift in capital allocation.

Shopping mall giant Macerich Co. looks poised to start defaulting on more of its maturing mall loans, according to Barclays.

Macerich's (MAC) first-quarter FFO per share misses estimates while the top line witnesses a decline year over year.

The Macerich Company (NYSE:MAC ) Q1 2024 Earnings Conference Call April 30, 2024 1:00 PM ET Company Participants Samantha Greening - Director of Investor Relations Jackson Hsieh - President, CEO and Director Scott Kingsmore - Senior Executive Vice President, Chief Financial Officer and Treasurer Doug Healey - Senior Executive Vice President of Leasing Conference Call Participants Jeffrey Spector - Bank of America Securities Greg McGinniss - Scotiabank Samir Khanal - Evercore ISI Floris van Dijkum - Compass Point Linda Tsai - Jefferies Alexander Goldfarb - Piper Sandler Michael Mueller - JPMorgan Operator Ladies and gentlemen, thank you for standing by. Welcome to the First Quarter 2024 Macerich Earnings Conference Call.

Although the revenue and EPS for Macerich (MAC) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Macerich (MAC) came out with quarterly funds from operations (FFO) of $0.31 per share, missing the Zacks Consensus Estimate of $0.39 per share. This compares to FFO of $0.40 per share a year ago.

American malls are experiencing a possible revival, with visits surging and the gap between pre-pandemic levels narrowing. Malls are evolving into hybrid entertainment destinations, offering experiences that online retail cannot replicate. Mall REITs like Simon Property Group and The Macerich Company are attractive investment options due to their strong portfolios and potential for growth.

A portfolio of premium shopping centers, a focus on omnichannel retailing and developing mixed-use assets are likely to support Macerich (MAC) despite higher e-commerce adoption and high interest rates.

SANTA MONICA, Calif., April 08, 2024 (GLOBE NEWSWIRE) -- WHAT: Macerich (NYSE: MAC) Schedules First Quarter 2024 Earnings Release and Conference Call

Healthy retail demand, focus on mixed-use development and capital-recycling moves bode well for Macerich (MAC).