BUZZ-Retail REIT Macerich down after $395 mln stock offering priced

Reuters

2024-11-26

BUZZ-Retail REIT Macerich down after $395 mln stock offering priced

** Shares of Macerich MAC.N down 0.8% premarket to $20.15 after overnight follow-on priced

** Santa Monica, CA-based retail real estate investment trust $(REIT)$ late Mon announced 20 mln shares at $19.75 for $395 mln gross proceeds

** Offering size boosted from 18 mln shares, priced at 2.8% discount to stock's last sale

** It plans to use net offering proceeds to help repay $478 mln mortgage loan with a fixed effective interest rate of approx 9.0%, and secured by its Washington Square property in Portland, Oregon

** Goldman Sachs leading the offering

** With ~225.5 mln shares outstanding, MAC has ~$4.6 bln market cap

** Through Mon, shares up ~32% in 2024

** Of 14 analysts covering MAC, recommendation breakdown is 1 "strong buy", 6 "hold" and 7 "sell" ratings; median PT is $16.50 - LSEG data

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

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

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The views expressed are his own)</p><p>((lance.tupper@tr.com 1-646-279-6380))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BUZZ-Retail REIT Macerich down after $395 mln stock offering priced</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBUZZ-Retail REIT Macerich down after $395 mln stock offering priced\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2024-11-26 21:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Retail REIT Macerich down after $395 mln stock offering priced</title></head><body><p>** Shares of Macerich <span>MAC.N</span> down 0.8% premarket to $20.15 after overnight follow-on priced</p><p>** Santa Monica, CA-based retail real estate investment trust <a href=\"https://laohu8.com/S/REIT\">$(REIT)$</a> late Mon announced 20 mln shares at $19.75 for $395 mln gross proceeds</p><p>** Offering size boosted from 18 mln shares, priced at 2.8% discount to stock's last sale</p><p>** It plans to use net offering proceeds to help repay $478 mln mortgage loan with a fixed effective interest rate of approx 9.0%, and secured by its Washington Square property in Portland, Oregon</p><p>** Goldman Sachs leading the offering</p><p>** With ~225.5 mln shares outstanding, MAC has ~$4.6 bln market cap</p><p>** Through Mon, shares up ~32% in 2024</p><p>** Of 14 analysts covering MAC, recommendation breakdown is 1 \"strong buy\", 6 \"hold\" and 7 \"sell\" ratings; median PT is $16.50 - LSEG data</p><p>(Lance Tupper is a Reuters market analyst. The views expressed are his own)</p><p>((lance.tupper@tr.com 1-646-279-6380))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1668664300.SGD","symbol_name":"Blackrock World Financials A2 SGD-H","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241126:nL6N3MX0G5:1","article_id":"2486008037","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486008037","pubTimestamp":1732628412,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Retail REIT Macerich down after $395 mln stock offering priced** Shares of Macerich MAC.N down 0.8% premarket to $20.15 after overnight follow-on priced** Santa Monica, CA-based retail real estate investment trust  late Mon announced 20 mln shares at $19.75 for $395 mln gross proceeds** Offering size boosted from 18 mln shares, priced at 2.8% discount to stock's last sale** It plans to use net offering proceeds to help repay $478 mln mortgage loan with a fixed effective interest rate of approx 9.0%, and secured by its Washington Square property in Portland, Oregon** Goldman Sachs leading the offering** With ~225.5 mln shares outstanding, MAC has ~$4.6 bln market cap** Through Mon, shares up ~32% in 2024** Of 14 analysts covering MAC, recommendation breakdown is 1 \"strong buy\", 6 \"hold\" and 7 \"sell\" ratings; median PT is $16.50 - LSEG data","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","BK4588":"碎股","BK4550":"红杉资本持仓","BK4552":"Archegos爆仓风波概念","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","BK4231":"零售房地产信托","BK4551":"寇图资本持仓","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","BK4504":"桥水持仓","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","IE00BFXG1179.USD":"BNY MELLON U.S. EQUITY INCOME \"B\" (USD) INC","BK4127":"投资银行业与经纪业","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","BK4516":"特朗普概念","LU0106831901.USD":"贝莱德世界金融基金A2","MAC":"马塞里奇房产","BK4585":"ETF&股票定投概念","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4080":"零售业房地产投资信托","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC"},"translate_title":"BUZZ-零售房地产投资信托基金Macerich在3.95亿美元股票发行定价后下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MAC":0.9},"content_text":"BUZZ-Retail REIT Macerich down after $395 mln stock offering priced** Shares of Macerich MAC.N down 0.8% premarket to $20.15 after overnight follow-on priced** Santa Monica, CA-based retail real estate investment trust $(REIT)$ late Mon announced 20 mln shares at $19.75 for $395 mln gross proceeds** Offering size boosted from 18 mln shares, priced at 2.8% discount to stock's last sale** It plans to use net offering proceeds to help repay $478 mln mortgage loan with a fixed effective interest rate of approx 9.0%, and secured by its Washington Square property in Portland, Oregon** Goldman Sachs leading the offering** With ~225.5 mln shares outstanding, MAC has ~$4.6 bln market cap** Through Mon, shares up ~32% in 2024** Of 14 analysts covering MAC, recommendation breakdown is 1 \"strong buy\", 6 \"hold\" and 7 \"sell\" ratings; median PT is $16.50 - LSEG data(Lance Tupper is a Reuters market analyst. 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