MAC is set to benefit from a premium shopping center portfolio, efforts to support omnichannel retailing and an aggressive capital-recycling program.
MAC acquires Raleigh's Crabtree Mall for $290M, boosting portfolio strength and supporting its Path Forward Plan.
HMY is set to acquire MAC Copper for $1.03B, boosting cash flow and advancing its strategy to become a top low-cost gold and copper producer.
The deal increases the miner's exposure to copper, a commodity central to the energy transition.
MAC's Q1 results reflect healthy leasing, driving same-center NOI and higher base rent re-leasing spreads. Yet, occupancy declines and costs rise year over year.
The Macerich Company (NYSE:MAC ) Q1 2025 - Earnings Conference Call May 12, 2025 1:00 PM ET Company Participants Samantha Greening - Director, IR Jack Hsieh - President & CEO Dan Swanstrom - SEVP & CFO Doug Healey - SEVP, Leasing Brad Miller - SVP, Portfolio Management Conference Call Participants Ki Bin Kim - Truist Craig Mailman - Citi Linda Tsai - Jefferies Ronald Kamdem - Morgan Stanley Samir Khanal - Bank of America Floris Van Dijkum - Compass Point Greg McGinnis - Scotiabank Vince Tibone - Green Street Omotayo Okusanya - Deutsche Bank Alexander Goldfarb - Piper Sandler Haendel St. Juste - Mizuho Caitlin Burrows - Goldman Sachs Michael Mueller - JPMorgan Operator Ladies and gentlemen, thank you for standing by, and welcome to the First Quarter 2025 Macerich Earnings Conference Call. At this time, all participants are in a listen only mode.
The headline numbers for Macerich (MAC) give insight into how the company performed in the quarter ended March 2025, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Macerich (MAC) came out with quarterly funds from operations (FFO) of $0.33 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to FFO of $0.31 per share a year ago.
Evaluate the expected performance of Macerich (MAC) for the quarter ended March 2025, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Macerich's recovery is evident with rising occupancy rates, strong leasing activity, and improved foot traffic, making it an attractive investment despite past challenges. The company's strategic moves, including full ownership of key malls and a focus on affluent markets, bolster its long-term cash flow prospects. Debt remains a concern, but the "Path Forward" plan aims to reduce it significantly, with positive investor response and stock performance.
In a major boost to Macerich's Tysons Corner brand enhancement, the company agrees upon a multi-year sponsorship arrangement with PenFed.
Estée Lauder CEO Stéphane de La Faverie says he is committed to reigniting growth and achieving "solid double-digit margin" for the company. "We need to be reactive to where the consumer goes, and we need to make sure we give them the innovation they are looking for in the time that they want it," he said.