BUZZ-REIT Macerich drops after unveiling another share offering

Federal Agricultural Mortgage Corporation Class C
Goldman Sachs Group, Inc.
Macerich Company

Federal Agricultural Mortgage Corporation Class C

AGM

0.00

Goldman Sachs Group, Inc.

GS

0.00

Macerich Company

MAC

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** Shopping center REIT Macerich's MAC.N shares down 2.4% in extended trading to $24.50 after latest equity offering news

** Santa Monica, California-based MAC commences 16 mln share offering as part of forward sale

** It plans to enter into one-year forward sale agreement with lead bookrunner Goldman Sachs

** Upon future settlement of agreements, MAC intends to use net proceeds to fund future acquisition opportunities and for general corporate purposes

** MAC last month announced upsized $403 mln stock offering at $21 to repay credit facility used to fund acquisition of Annapolis Mall

** MAC stock on Mon ended down 0.8% at $25.09, up 36% YTD

** It has ~283.6 mln shares outstanding

** Avg rating of 16 analysts is "buy"; median PT $24, per LSEG


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