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MAC - Macerich Stock: Q3 Earnings Results Show The Recovery Is On Track
Macerich Company
Macerich reported third quarter results which we consider very positive and pointing to a recovery from the Covid pandemic impact.
We are particularly impressed with tenant sales above pre-pandemic levels. Macerich saw comparable tenant sales in the third quarter improve 14% over the third quarter of 2019.
The leasing environment is improving, and occupancy has started to recover, with occupancy rising to 90.3% in the third quarter.