Macerich Announces Planned Off-Market Acquisition with 9% to 11% Stabilized Yield
Macerich (NYSE: MAC) has announced plans to complete an off-market acquisition by the end of the year. The company expects the new assets to provide a stabilized yield ranging between 9% and 11%, signaling a strategic move to expand its portfolio with high-yielding properties. During the Q3 earnings call, CEO Jackson Hsieh reported that recent leasing initiatives are yielding positive results, specifically noting improvements in foot traffic, tenant sales, and Net Operating Income (NOI). The company reported adjusted Funds From Operations (FFO) of $0.37 per diluted share for the quarter.
Tickers: $MAC
Topics: earnings report FFO per share foot traffic leasing initiative NOI