Citigroup reiterated coverage on Macerich with a new price target
$MAC
Real Estate Investment Trusts
Real Estate
Citigroup reiterated coverage of Macerich with a rating of Sell and set a new price target of $20.00 from $17.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/17/2024 | $16.00 → $14.00 | Sector Perform → Sector Underperform | Scotiabank |
| 5/1/2024 | $17.00 → $11.00 | Neutral → Underweight | Piper Sandler |
| 3/22/2024 | $8.00 → $17.00 | Sell → Neutral | Citigroup |
| 10/2/2023 | $11.00 → $12.00 | Underweight → Neutral | Piper Sandler |
| 3/21/2023 | $8.50 | Sell | Goldman |
| 12/16/2022 | $8.50 | Underweight | Morgan Stanley |
| 4/18/2022 | $18.00 → $14.00 | Neutral → Underweight | Piper Sandler |
| 3/7/2022 | $14.75 → $14.00 | Underweight | Morgan Stanley |
10-Q - MACERICH CO (0000912242) (Filer)
8-K - MACERICH CO (0000912242) (Filer)
8-K - MACERICH CO (0000912242) (Filer)
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SC 13G/A - MACERICH CO (0000912242) (Subject)
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SANTA MONICA, Calif., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Macerich (NYSE:MAC), one of the nation's leading owners, operators and developers of major retail properties in top markets, has earned the #1 ranking among all U.S. retail in the GRESB Real Estate Assessment for the 10th consecutive year. Macerich ranked #3 in Retail, Americas, and earned the prestigious GRESB Green Star rating based on absolute performance. "GRESB and our peers raise the bar every year. We appreciate this comprehensive assessment of our progress, and we are honored to receive this recognition of the results our initiatives have delivered," said Olivia Bartel Leigh, Executive Vice President, Portfolio Operations an
SANTA MONICA, Calif., Oct. 31, 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 December 2, 2024, to stockholders of record at the close of business on November 12, 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 and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. D
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. "We are pleased to share details on our just-completed refinance of Queens Center, consistently one of the best-performing properties in our entire portfolio," said Jack Hsieh, President and
SANTA MONICA, Calif., July 22, 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 the appointment of Diana M. Laing to its Board of Directors. Ms. Laing previously served on Macerich's Board from 2003 through 2022. With the addition of Ms. Laing, Macerich's Board will have eight directors, seven of whom are independent. A seasoned corporate finance executive with 35+ years in real estate investment and operating companies, Ms. Laing brings key skills and experience to the Macerich Board – including her tenure as a member of the Board of Directors of Spirit Realty Capital wh
Pillar Income Asset Management ("Pillar") is pleased to announce the appointment of Erik Johnson as President and Chief Executive Officer, effective immediately. In addition, Mr. Johnson was also appointed President and Chief Executive Officer of American Realty Investors, Inc. (NYSE:ARL), Transcontinental Realty Investors, Inc. (NYSE:TCI), and Income Opportunity Realty Investors, Inc. (NYSE:IOR), collectively referred to herein as the "Companies", which are each managed by Pillar. Mr. Johnson has served Pillar as Interim President since April 2023 and as Executive Vice and Chief Financial Officer since June 2020. He has also served as Executive Vice President and Chief Financial Officer
SANTA MONICA, Calif., March 01, 2024 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) (the "Company") announced that it granted two inducement equity awards to Jackson Hsieh on March 1, 2024, the effective date of Mr. Hsieh's appointment as President and Chief Executive Officer of the Company, pursuant to the employment agreement entered into between the Company and Mr. Hsieh effective March 1, 2024. The awards were granted in accordance with New York Stock Exchange Listed Company Manual Rule 303A.08 as an inducement to Mr. Hsieh's employment with the Company. The inducement awards include a sign-on equity grant in the amount of 304,692 Company Long-Term Incentive ("LTIP") units (the
Scotiabank downgraded Macerich from Sector Perform to Sector Underperform and set a new price target of $14.00 from $16.00 previously
Piper Sandler downgraded Macerich from Neutral to Underweight and set a new price target of $11.00 from $17.00 previously
Citigroup upgraded Macerich from Sell to Neutral and set a new price target of $17.00 from $8.00 previously
Goldman Sachs analyst Caitlin Burrows maintains Macerich (NYSE:MAC) with a Sell and lowers the price target from $14 to $12.5.
Macerich's plan is designed to: Deleverage the capital structure to a low-to-mid 6x range over the next three to four years. Invest in and fortify key assets in the portfolio. Proactively consolidate selected joint venture assets that are core to the overall strategy. Deliver clean FFO/share launch point of ~$1.80/share over the next three to four years. Improve various internal processes that are being evaluated and realigned to achieve outstanding operational results. Position the company to take an offensive stance on acquisitions, reinvestment, and selected development.
SANTA MONICA, Calif., Oct. 31, 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 December 2, 2024, to stockholders of record at the close of business on November 12, 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 and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. D
SANTA MONICA, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- WHAT: Macerich (NYSE:MAC) Schedules Third Quarter 2024 Earnings Release and Conference Call WHEN: Earnings Results will be released before market open on Wednesday, November 6, 2024. Management will hold a conference call at 10:00 am Pacific Time (1:00 pm Eastern Time) on that same day to discuss quarterly results. WHERE: Participants who wish to join the conference by telephone must register at the dial-in registration link below to receive the dial-in number and a personalized PIN code that will be required to access the call. Participants may join the live webcast by accessing it at the webcast registration link below or in the
SANTA MONICA, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) has released its Second Quarter 2024 Earnings Results and Supplemental Information by posting it to the Investor Relations section of its website at www.macerich.com. As previously announced, management will hold a conference call at 10:00 a.m. Pacific Time (1:00 p.m. Eastern Time) today, Wednesday, July 31, 2024, to discuss quarterly results. Participants who wish to join the conference by telephone must register at the dial-in registration link below to receive the dial-in number and a personalized PIN code that will be required to access the call. Participants may join the live webcast by accessing