Walter Bibikow On April 30, 2024, the Macerich Company (NYSE:NYSE:MAC) reported its Q1, 2024 results, which presented a nightmare scenario for the existing shareholders, causing the Stock price to drop by double digits. There is definitely a component of worsened performance, which has triggered a notable repricing by the market, but there is also a sentiment from the past involved, where historically MAC has every now and then dropped a bombshell in the form of share dilution, that in the context of th ...

Shares of The Macerich Company (MAC) have lost 14.05% in the Apr 30 regular trading session on the NYSE after it reported funds from operations (FFO) per share, excluding financing expense in relation to Chandler Freehold, of 31 cents, missing the Zacks Consensus Estimate of 39 cents. Moreover, the figure declined 22.5% from the year-ago quarter’s 40 cents.The results reflected a year-over-year fall in quarterly revenues. This retail REIT also experienced a decline in same-center net operating income (NOI), ...

财务数据和关键指标变化 - 第一季度FFO每股为0.33美元,低于预期0.05美元,同比下降0.10美元 [21][23] - 同店NOI(不含租赁终止收入)下降1.9% [24] - 预计Express破产将对2024年FFO产生0.05-0.06美元的负面影响,长期每年约0.06-0.08美元的负面影响 [26][27][28] 各条业务线数据和关键指标变化 - 第一季度新开540,000平方英尺的新店,同比增加近300% [38] - 第一季度签署222份租约,面积超过100万平方英尺,同比增加14% [41] - 第一季度末租赁率为93.4%,同比增加120个基点 [36] - 12个月租金增长率为14.7%,同比增加810个基点 [37] 各个市场数据和关键指标变化 - 第一季度销售额基本持平,销售额每平方英尺为837美元,同比增加1美元 [37] - 东海岸6个资产的NOI仍未恢复至2019年水平,差额约3900万美元 [106][107] 公司战略和发展方向及行业竞争 - 公司将通过出售资产、整合部分合资权益、归还部分贷款等方式,在未来3-4年内将杠杆率降至低于6倍 [11][12] - 公司将集中在最优质的购物中心资产,提升运营绩效,并通过资本市场筹资加快去杠杆 [13][14] - 公司将专注于打造"热闹、有活力"的购物中心,引入更多体育、健身、餐饮等体验业态 [60][61][80] 管理层对经营环境和未来前景的评论 - 新任CEO对公司未来前景表示乐观和信心,认为公司有很大改善空间 [7][8][9] - 管理层认为目前零售市场环境仍然强劲,为公司的战略转型提供了良好机遇 [56][57] 问答环节重要的提问和回答 问题1 **Jeffrey Spector 提问** 询问公司在未来12个月内的具体目标 [49] **Jackson Hsieh 回答** 详细阐述了公司在未来3-4年内的具体目标和实现路径,包括资产出售、NOI提升和股权融资等 [50][51][52] 问题2 **Greg McGinniss 提问** 询问公司是否会出售一些较强资产来控制股权稀释 [65][66] **Jackson Hsieh 回答** 公司将出售一些中等资产,而不会出售最优质的"堡垒资产",以最大限度减少股权稀释 [67] 问题3 **Samir Khanal 提问** 询问公司如何看待Express退出对空置锚定店的重新租赁 [77][78] **Doug Healey 回答** 公司认为这些优质空间的重新租赁将是一个机会,可以引入更多新鲜业态,提升购物中心体验 [88][89]

Macerich (MAC) reported $208.78 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.8%. EPS of $0.31 for the same period compares to -$0.27 a year ago.The reported revenue represents a surprise of -3.93% over the Zacks Consensus Estimate of $217.32 million. With the consensus EPS estimate being $0.39, the EPS surprise was -20.51%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

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. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of -20.51%. A quarter ago, it was expected that this shopping center real estate investment trust would post FFO of $0.55 per share when it actually produced FFO of $0.56, delivering a surprise of 1.82%.Over the last ...

Exhibit 99.1 Earnings Results & Supplemental Information For the Three Months Ended March 31, 2024 The Macerich Company Earnings Results & Supplemental Information For the Three Months Ended March 31, 2024 Table of Contents All information included in this supplemental financial package is unaudited, unless otherwise indicated. Page No. Executive Summary & Financial Highlights 1 Executive Summary 1 Financial Highlights 4 Capital Information 8 Capital Information and Market Capitalization 8 Changes in Total ...

SANTA MONICA, Calif., April 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 June 3, 2024, to stockholders of record at the close of business on May 20, 2024. About Macerich Macerich is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated an ...

The Macerich Company (MAC) , with a solid leasing pipeline, is likely to continue witnessing healthy leasing activity at its properties in the quarters ahead, driving occupancy. Its focus on omnichannel retailing augurs well.The shift toward re-use and mixed-use properties through recapture and repositioning of anchor tenants remains a key emphasis, while bringing brands to new markets at its mall is likely to attract shoppers. However, growing e-commerce adoption raises concerns for the company. High inter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________ TO ________ Commission File No. 1-12504 THE MACERICH COMPANY (Exact name of registrant as specified in its charter) Maryland 95-4448705 (State or other jurisdiction ...

The Macerich Company (NYSE:MAC) Q4 2023 Results Conference Call February 7, 2024 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 Jeffrey Spector - Bank of America Securities Viktor Fediv - Scotiabank Samir Khanal - Evercore Floris Van Dijkum - Compass Point Todd Thomas - KeyBanc C ...