09:07 AM EDT, 05/23/2024 (MT Newswires) -- Macerich ( MAC ) said Thursday it will simplify its business and reduce leverage over the next three to four years as part of a new operational plan.

The company said it will deleverage to a low-to-mid 6x range, alongside a funds from operation target of about $1.80 per share in the next few years.

Select joint venture assets will be consolidated, Macerich ( MAC ) said, adding that it plans to take an "offensive stance" on acquisitions and reinvestment.

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