REIT Macerich slips after launching stock offering

The Macerich

11/05/2026 21:43

** Shares of retail real estate investment trust Macerich MAC.N down 1.6% post-market to $21.30 after planned equity raise news

** Santa Monica, California-based firm commences 16 mln share offering

** Intends to use net offering proceeds to repay borrowings under credit facility, which were used primarily to fund $272 mln acquisition of Annapolis Mall, and for general corporate purposes, including acquiring additional properties

** Goldman Sachs lead bookrunner

** MAC stock closed down 1.1% at $21.64, trimming YTD gain to 17%

** Co has ~261.4 mln shares outstanding prior to offering

** Of 16 analysts covering the stock, recommendation breakdown is  8 "strong buy" or "buy", 5 "hold", 3 "sell"; median PT $22, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))