REIT Macerich drops after unveiling another share offering

The Macerich

15/06/2026 22:04

** Shopping center REIT Macerich's MAC.N shares down 2.4% in extended trading to $24.50 after latest equity offering news
** Santa Monica, California-based MAC commences 16 mln share offering as part of forward sale
** It plans to enter into one-year forward sale agreement with lead bookrunner Goldman Sachs
** Upon future settlement of agreements, MAC intends to use net proceeds to fund future acquisition opportunities and for general corporate purposes
** MAC last month announced upsized $403 mln stock offering at $21 to repay credit facility used to fund acquisition of Annapolis Mall
** MAC stock on Mon ended down 0.8% at $25.09, up 36% YTD
** It has ~283.6 mln shares outstanding
** Avg rating of 16 analysts is "buy"; median PT $24, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))