Macerich: Deleveraging Balance Sheet And Redevelopments To Limit Downside Risk

2026-02-03 00:23:25 ET

The Macerich Company ( MAC ), a shopping center/mall REIT, is primarily located in California, Arizona, and New York. The company has significantly changed its portfolio strategy over the last couple of years from a broad view to a focus on primary core products. Macerich is further reiterating its multi-year transformation strategy, " Path Forward Plan," to hold higher-quality mall assets and sell non-core assets, thereby deleveraging its balance sheet and improving its core assets. As a result, the company's gross leasable area declined approximately 7 million sqft from 46 million sqft in Q4FY23 to 39 million sqft in Q3FY25, with regional centers reduced from 43 in Q4FY23 to 37 in Q3FY25....

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