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The Macerich Company (NYSE:MAC), a retail REIT currently trading at $15.87 per share after experiencing a significant 27.5% decline over the past six months, convened its annual stockholders meeting on June 2, 2025. During the meeting, shareholders voted on several key proposals, as detailed in a recent SEC filing. According to InvestingPro analysis, the company maintains a remarkable 32-year streak of consecutive dividend payments, currently yielding 4.3%.
Shareholders elected eight directors to serve until the next annual meeting. The directors include Steven R. Hash, Enrique Hernandez, Jr., Daniel J. Hirsch, Jackson Hsieh, Diana M. Laing, Marianne Lowenthal, Devin I. Murphy, and Andrea M. Stephen. Each director received a majority vote, with Steven R. Hash securing 218,071,084 votes in favor and 2,456,614 votes against. The company, with a market capitalization of $4.2 billion, currently maintains a "Fair" overall financial health score according to InvestingPro metrics.
In addition to the election of directors, shareholders approved the compensation package for the company’s named executive officers. The proposal received 198,331,873 votes in favor and 20,950,598 votes against, with 1,292,494 abstentions.
Furthermore, the appointment of KPMG LLP as Macerich’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified. This proposal garnered 232,212,084 votes in favor, with 1,336,121 votes against and 85,342 abstentions.
The information in this article is based on a recent SEC filing by The Macerich Company.
In other recent news, The Macerich Company reported a mixed set of financial results for the first quarter of 2025. The company posted a revenue of $249.22 million, surpassing analysts’ expectations of $206.71 million, but reported an earnings per share (EPS) loss of -$0.20, which was significantly below the forecasted -$0.0747. Despite the EPS miss, Macerich saw a substantial increase in leasing activity, with 2.6 million square feet of leases signed, marking a 156% rise from the previous year. The company’s Signed Not Yet Open (SNO) pipeline also grew to $80 million, indicating potential future revenue growth.
Truist Securities maintained its Buy rating on Macerich, setting a price target of $19.00, reflecting confidence in the company’s operational progress. The firm’s analysis pointed out that Macerich’s funds from operations (FFO) per share met expectations at $0.33, exceeding the consensus estimate of $0.31 per share. This was bolstered by a significant increase in base minimum rents, which reached $160 million in the first quarter. Macerich’s strategic redevelopment projects and tenant expansion efforts are seen as key drivers of its revenue growth.
Despite a slight decline in occupancy to 92.6%, the company continues to focus on enhancing its portfolio through strategic initiatives. These include breaking ground on the redevelopment and expansion of Green Acres, a project expected to be completed by fall 2027. Analysts from Truist Securities noted the company’s strong leasing momentum and its ability to navigate market challenges, which contribute to the positive outlook.
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