The latest announcement is out from Macerich ( (MAC) ).
In the fourth quarter of 2024, Macerich made significant strides in executing its Path Forward Plan, which includes simplifying its business, improving operational performance, and reducing leverage. The company acquired a 40% interest in the Pacific Premier Retail Trust portfolio for $122 million, completed a public offering of 23 million shares raising approximately $454 million, and sold several properties to improve its balance sheet. Despite a net loss of $211.2 million for the quarter, Macerich maintained a strong leasing performance with a portfolio occupancy of 94.1% and signed leases for 3.7 million square feet of space throughout the year.
More about Macerich
The Macerich Company is a prominent owner, operator, and developer of high-quality retail real estate, primarily focusing on regional retail centers in densely populated U.S. markets such as California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. The company is committed to environmental sustainability, social responsibility, and strong corporate governance, having achieved a #1 GRESB ranking for the North American retail sector for ten consecutive years.
YTD Price Performance: -0.59%
Average Trading Volume: 1,902,123
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $5.2B
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