Macerich

Macerich Partnership announced a private placement of $600 million principal amount of senior, unsecured exchangeable notes due August 15, 2031, and is granting purchasers a 13‑day option to purchase an additional $90 million. Interest will be paid semiannually and holders will have an exchange right under certain conditions; cash‑settlement limits and a mix of cash or stock settlement are possible. The notes are callable beginning August 20, 2029 if the share price exceeds specified thresholds and may also be redeemed to preserve REIT status. Planned use of proceeds includes capped‑call hedges to reduce dilution, refinancing of secured indebtedness and general corporate purposes. The offering is being made pursuant to Rule 144A and is not registered under the Securities Act. » Więcej na de.investing.com

Mall REITs returned an average of 22.4% in Q2 2026, outperforming the broader REIT sector (+12.2%). Macerich posted the highest return at 34.2% after balance-sheet optimization, portfolio tightening and an acquisition; Simon Property Group returned 21.2% and Tanger 17.1%. The group's short interest rose 78.1% during the quarter to 5.8% of the float, with Macerich seeing the largest increase (+89.1%) and the highest short interest at 9.2%; days to cover fell from 5.0 to 3.5. » Więcej na de.investing.com

Macerich set the price for a firm‑commitment placement of 19,200,000 common shares at $21.00 per share, yielding gross proceeds of approximately $403.2 million. The offering price is below the current trading price; the syndicate banks have a 30‑day option to purchase up to 2,880,000 additional shares. The transaction is expected to close on May 13, 2026, subject to customary conditions. Net proceeds are intended primarily to repay borrowings under the revolving credit facility (including to finance the acquisition of the Annapolis Mall) and for general corporate purposes and strategic investments. » Więcej na de.investing.com