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Macerich Sells Another Asset to Continue Debt Reduction

·4 min read
Macerich Sells Another Asset to Continue Debt Reduction
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The COVID-19 pandemic proved very costly for Macerich (NYSE: MAC). Not only did the pandemic crush the mall REIT's near-term financial results, but it also forced Macerich to issue hundreds of millions of dollars of new stock to shore up its balance sheet, diluting existing shareholders. Management wants to avoid repeating its prior mistakes by maintaining a more conservative balance sheet.