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Macerich (MAC) announces leasing to healthy lifestyle brand, Life Time, at its Twenty Ninth Street shopping center in Boulder.
SANTA MONICA, Calif., Jan. 08, 2024 (GLOBE NEWSWIRE) -- WHAT: Macerich (NYSE: MAC) Schedules Fourth Quarter 2023 Earnings Release and Conference Call
Macerich (MAC) and Hudson Pacific Properties' (HPP) sale of One Westside and Westside Two adds substantial value to the balance sheets of both companies.
Macerich (MAC) witnessed a jump in share price last session on above-average trading volume. The latest trend in FFO estimate revisions for the stock doesn't suggest further strength down the road.
Rising e-commerce adoption and high interest rates are major headwinds for Macerich (MAC). However, a healthy retail real estate market and a focus on omni-channel retailing offer some support.
In trading on Tuesday, shares of Macerich were yielding above the 6% mark based on its quarterly dividend (annualized to $0.68)
Macerich (MAC) witnesses year-over-year growth in occupancy and same-center net operating income. However, the top line lags estimates.
The Macerich Company (NYSE:MAC ) Q3 2023 Earnings Conference Call October 31, 2023 1:00 PM ET Company Participants Samantha Greening - Director Investor Relations Tom O'Hern - Chief Executive Officer Scott Kingsmore - Senior Executive Vice President and Chief Financial Officer Doug Healey - Senior Executive Vice President, Leasing Conference Call Participants Greg McGinnis - Scotiabank Jeffrey Spector - Bank of America Securities Samir Khanal - Evercore ISI Floris van Dijkum - Compass Point Alexander Goldfarb - Piper Sandler Hongliang Zhang - JPMorgan Caitlin Burrows - Goldman Sachs Ronald Kamdem - Morgan Stanley Operator Good day, ladies and gentlemen. Thank you for standing by.
Macerich (MAC) came out with quarterly funds from operations (FFO) of $0.44 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.46 per share a year ago.
Macerich's (MAC) success story at the Chandler Fashion Center in suburban Phoenix and Kings Plaza in Brooklyn serves as a testament to its strategic vision and adaptability in the retail real estate industry.