Macerich Stock Price, News & Analysis

The Macerich Company (NYSE: MAC) has announced a quarterly cash dividend of $0.17 per share of common stock. This dividend will be payable on September 9, 2024, to stockholders of record at the close of business on August 19, 2024. The declaration was made by Macerich's Board of Directors, demonstrating the company's commitment to returning value to its shareholders. This regular dividend payout reflects Macerich's ongoing financial stability and confidence in its cash flow generation capabilities, which is particularly noteworthy in the real estate investment trust (REIT) sector.

Macerich (NYSE: MAC), a leading retail property owner and operator, has announced the appointment of Diana M. Laing to its Board of Directors. Laing, who previously served on Macerich's Board from 2003 to 2022, brings over 35 years of experience in real estate investment and operations. Her expertise spans corporate strategy, risk management, finance, and corporate governance.

With Laing's addition, Macerich's Board now consists of eight directors, seven of whom are independent. This move aligns with Macerich's recently launched Path Forward plan, which aims to simplify the business, improve operational performance, and reduce leverage. The plan focuses on concentrating the portfolio on thriving centers and strengthening the company's balance sheet.

Macerich (NYSE: MAC) has scheduled the release of its second-quarter 2024 earnings results for Wednesday, July 31, 2024. The earnings report will be made available before the market opens. Following the release, management will host a conference call at 10:00 am Pacific Time (1:00 pm Eastern Time) on the same day to discuss the quarterly results.

Participants can join the conference call by registering through the provided dial-in registration link to obtain the necessary dial-in number and personalized PIN code. Additionally, a live webcast will be accessible through the provided webcast registration link or via the Investors Section of Macerich's website.

A webcast replay will be available for 90 days in the Investors Section of the Company's website.

Metals Acquisition (MTAL) has redeemed all its outstanding public and private placement warrants. This redemption, announced on May 6, 2024, was completed by June 5, 2024, at $0.10 per warrant. Approximately 99.82% of the warrants were exercised, resulting in the issuance of 4,701,071 ordinary shares, increasing the total to 74,055,263. The redemption led to a 6.35% dilution of existing shares and $11,799 in cash received. Notably, MTAL is set to join the Russell 3000® Index on July 1, 2024, enhancing its market visibility and investor interest. Major shareholders include Glencore, BlackRock, and Osisko Bermuda.

Macerich, a leading retail property developer, will participate in Nareit’s REITweek 2024 Investor Conference on June 4-5, 2024. Key executives, including CEO Jack Hsieh, CFO Scott Kingsmore, and EVP Doug Healey, will present on June 4 at 11:45 a.m. ET. The presentation will be available via live audio webcast and replay until June 14, 2024, at investing.macerich.com/news-events/events-presentations.

Metals Acquisition (NYSE: MTAL; ASX: MAC) announced a strategic investment in Polymetals Resources (ASX: POL). MAC will invest A$5 million in POL at A$0.35/share, initially acquiring a 4.31% interest. Additional investments are contingent on POL securing funding to restart the Endeavour mine and signing agreements for zinc ore treatment and water offtake. MAC will have the right to appoint a director to the POL board if it holds over 7% shares. POL owns the Endeavour mine, which has produced significant silver, zinc, and lead. The investment aligns with MAC’s strategy to increase value through cooperation in the Cobar Basin, utilizing Endeavour's infrastructure to process high-grade zinc and securing water resources for the CSA Copper Mine. The partnership leverages POL's experienced management team to optimize mining operations.

Macerich has announced its Path-Forward plan aimed at simplifying the business, enhancing operational performance, and reducing leverage under the leadership of new President and CEO Jack Hsieh. The plan focuses on three main strategies: deleveraging the capital structure to a low-to-mid 6x range over three to four years, investing in key portfolio assets, and consolidating selected joint venture assets. The company aims to deliver a clean FFO/share launch point of approximately $1.80/share. Improvements in internal processes and an offensive stance on acquisitions, reinvestment, and selected development are also part of the plan. Macerich will present its strategy at Nareit’s REITweek: 2024 Investor Conference in New York City on June 4, 2024.

Metals Acquisition (NYSE: MTAL; ASX: MAC) has announced the 'Redemption Fair Market Value' for its public and private placement warrants to purchase ordinary shares. The redemption price is set at $0.10 per warrant, and holders can choose to exercise their warrants for cash at $11.50 per share or on a cashless basis before the redemption deadline at 5:00 p.m. New York City time on June 5, 2024. The 'Redemption Fair Market Value' is $13.33, which means holders exercising their warrants on a cashless basis will receive 0.3063 ordinary shares per warrant. Any unexercised warrants will become void after the deadline.

Otto Tech Systems announced the addition of H.P. Goldfield, Cory Scott, and James Bifulco to its Board of Directors. This move aims to bolster Otto's governance and facilitate its expansion from a domestic to a global business. The company, known for its innovative smart ladder technology, will soon conclude field testing with STO Building Group. The Little Giant Signal™, the world's first smart ladder, will be available in quantities in New York this fall. H.P. Goldfield brings extensive international trade expertise, Cory Scott offers valuable property owner insights, and James Bifulco contributes significant safety management experience. This strategic enhancement of the board is expected to drive Otto’s growth and innovation in safety technology.