Macerich Ties Up With PenFed for Tysons Corner Center Plaza

The Macerich Company MAC announced that it sealed a multi-year sponsorship and member engagement agreement with PenFed Credit Union, America’s second-largest federal credit union, for its Tysons Corner Center Plaza. This arrangement will aid in elevating the brand appeal and reach of the center’s experiential marketing programs and media network, attracting millions of shoppers and PenFed members annually.Spanning 1.8 million square feet and termed a “Fortress property” by Marerich’s president and CEO, Tysons Corner, is a premier shopping center preferred by major brands and retailers as a first-to-market destination for their products and services. A behemoth with more than 300 shops and specialty restaurants, the center attracts shoppers and visitors from around the world.As part of its annual programming calendar, the Tysons Corner Center offers free entertainment, food tastings, fitness activities and more, while supporting more than 20 unique, local community partners at its outdoor event and community gathering space, “The Plaza”, which will now become “PenFed Plaza at Tysons Corner Center”.PenFed’s sponsorship agreement with Tysons Corner will aid in expanding the former’s reach to the local community and its around 400,000 members across the Washington Metropolitan area, which is also known as the DMV area. Its members will be able to avail exclusive rights like VIP seating at Plaza events. PenFed will be able to showcase its brand exclusively across the Tysons Corner Center campus.Final Thoughts on MacerichMacerich’s above securing of sponsorship from PenFed for Tysons will augur better connectivity and engagement with the target audience through its media network and marketing programs. Also, this will help PenFed to propagate its products and services to potential members.MAC enjoys a portfolio of premium shopping centers in the United States. The company’s focus on omni-channel retailing is likely to support its long-term growth. Shift toward re-use and mixed-use properties through recapture and repositioning of anchor tenants remains a key emphasis, while bringing brands to new markets at its mall will likely attract shoppers. However, growing e-commerce adoption by consumers raises concerns for the company.Shares of this Zacks Rank #4 (Sell) company have lost 1.7% in the past six months, outperforming its industry's decline of 8%. Image Source: Zacks Investment Research Stocks to ConsiderSome better-ranked stocks from the retail REIT sector are Regency Centers REG and Tanger, Inc. SKT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for Regency’s 2025 FFO per share is pinned at $4.54, indicating year-over-year growth of 5.6%.The Zacks Consensus Estimate for Tanger’s 2025 FFO per share is pegged at $2.26, indicating an increase of 6.1% from the year-ago figure.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Macerich Company (The) (MAC): Free Stock Analysis Report Regency Centers Corporation (REG): Free Stock Analysis Report Tanger Inc. (SKT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks