Welcome to our dedicated page for The Macerich Company news (Ticker: MAC), a resource for investors and traders seeking the latest updates and insights on The Macerich Company stock.
The Macerich Company (NYSE: MAC) is a self-managed and self-administered real estate investment trust (REIT) and a prominent name in the S&P 500 index. The company specializes in the acquisition, leasing, management, development, and redevelopment of regional malls across the United States. Macerich focuses on high-quality retail properties in densely populated and attractive markets, including California, Arizona, Chicago, the Greater New York Metro area, and Washington, D.C.
Macerich's portfolio consists of 27 regional malls in its consolidated portfolio and 16 regional malls in its unconsolidated portfolio, as well as three power centers and seven other real estate assets. The total portfolio encompasses 46.3 million square feet of gross leasable area, with an impressive average sales figure of $836 per square foot for the 12 months ending in December 2023.
In recent strategic moves, Macerich has acquired the remaining 40% share in the Arrowhead Towne Center and South Plains Mall from its joint venture partner. This transaction grants Macerich full ownership of these prime assets. Additionally, Macerich has executed a contract for the sale of a non-mall asset, expected to generate approximately $110 million in net proceeds, a part of its strategy to reduce leverage and simplify business operations.
Arrowhead Towne Center, located in a high-growth area of Metro Phoenix, is a market-dominant and top-performing mall with significant projected benefits from the nearby Taiwan Semiconductor Manufacturing Company's major investment. South Plains Mall in Lubbock, Texas, another key asset, covers a vast trade area and serves as an economic hub due to its proximity to Texas Tech University.
Macerich is dedicated to environmental, social, and governance (ESG) principles, earning the #1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for nine consecutive years from 2015 to 2023. The company remains committed to advancing sustainability, corporate governance, and social good within the communities it serves.
For further information, investors can visit Macerich's Investor Relations website at investing.macerich.com or follow the company on social media platforms like LinkedIn.
Macerich has lined up several events for investor outreach, where stakeholders can gain more insights into the company's operational performance and strategic initiatives.
Macerich (NYSE: MAC) has announced its participation in the BofA Securities 2022 Global Real Estate Conference in New York on September 14, 2022. Key executives including Tom O'Hern, Scott Kingsmore, and Doug Healey will present at 12:40 PM ET. A live audio webcast will be available on Macerich's website, with a replay accessible afterward. Macerich is a prominent retail real estate investment trust, owning 48 million square feet across 44 regional town centers.
The Macerich Company (NYSE: MAC) released its Second Quarter 2022 Earnings Results on July 28, 2022. The report is accessible through the Investor Relations section on their website. A conference call to discuss the results took place at 10:00 a.m. PT on the same day. Macerich, a leading retail real estate investment trust, owns 48 million square feet of property, focusing on attractive U.S. markets. The company has been recognized for its sustainability efforts, holding the #1 GRESB ranking for North American retail for seven consecutive years.
The Philadelphia 76ers have announced the creation of 76 Devcorp to oversee the development of a new arena, 76 Place, at the Fashion District Philadelphia. Spearheaded by David Adelman, this privately-funded arena aims to boost the local economy, projected to generate $1.9 billion during construction and $400 million annually thereafter. The project emphasizes community engagement and equitable development, in collaboration with Macerich, the operator of Fashion District. Groundbreaking is expected several years from now, targeting completion for the 2031-2032 NBA season.
The Macerich Company (NYSE: MAC) declared a quarterly cash dividend of $.15 per share, payable on September 8, 2022, to stockholders of record as of August 19, 2022. Macerich is a leading real estate investment trust (REIT) focused on high-quality retail properties in densely populated U.S. markets. With a portfolio of 48 million square feet across 44 regional town centers, it has been ranked #1 for sustainability in the North American retail sector for seven consecutive years (2015-2021). Visit www.macerich.com for more information.
Macerich announced the selection of two additional properties for Round1 Bowling & Amusement locations at Arrowhead Towne Center in Phoenix and Danbury Fair in Connecticut, enhancing its portfolio of large-format entertainment venues. Round1 joins a growing list of tenants across Macerich's properties aimed at providing diverse, engaging experiences for shoppers. This move aligns with consumer trends favoring physical entertainment spaces, supporting Macerich's strategy to attract high-quality, multi-use tenants.
Macerich (NYSE: MAC) has announced the schedule for its Second Quarter 2022 earnings release, set for July 28, 2022, before market opening. A conference call will occur at 10:00 AM PT (1:00 PM ET) the same day to discuss the results. The call can be accessed via a live webcast on the company's website. Replays will be available for 90 days post-event. Macerich operates in high-quality retail real estate, owning 48 million square feet across 44 regional town centers in key U.S. markets, recognized for sustainability leadership.
Macerich (NYSE: MAC) is set to open a new 126,000 square-foot Target store at Danbury Fair, Connecticut, marking the first Target in the city. This move continues Macerich's strategy of replacing anchor stores with high-demand retailers, following recent successes at other properties, including Kings Plaza in Brooklyn. The addition of Target is part of a broader trend where Macerich enhances its A-quality portfolio, leveraging attractive demographics and a strong merchandise mix. Danbury Fair boasts over 180 shops and significant retail presence, indicating positive growth potential for the company.
Macerich (NYSE: MAC) has released its 2021 Corporate Responsibility Report, emphasizing its commitment to sustainability over the past 23 years. The report showcases significant achievements, including a 9% reduction in greenhouse gas emissions since 2019 and maintaining a position on the CDP A List for environmental transparency. Highlighting its focus on community engagement, Macerich supported local initiatives and provided emergency response assistance. The report also notes advancements in governance with added ESG oversight responsibilities. For further details, visit the Macerich website.
Macerich (NYSE: MAC) announced its participation in the Nareit's REITweek: 2022 Investor Conference on June 8, 2022. The company's CEO, Tom O'Hern, CFO Scott Kingsmore, and EVP Doug Healey will present from 4:15 pm to 4:45 pm Eastern Time. The event will take place in New York, NY, and a live audio webcast will be accessible on Macerich's website. As a leading real estate investment trust, Macerich owns 48 million square feet of retail space in key U.S. markets and is noted for its sustainability efforts, holding a top GRESB ranking since 2015.
Macerich (NYSE: MAC) announced the addition of 17 Cotton On Group stores to its U.S. portfolio, building upon the 12 already open. The new locations will span regional town centers, featuring brands such as Cotton On and Cotton On KIDS. Notable expansions include stores at Fashion Outlets of Niagara Falls, FlatIron Crossing, and Danbury Fair Mall. Cotton On Group emphasizes the importance of purpose-driven retail, aligning with Macerich’s commitment to social responsibility. This collaboration aims to enhance the shopping experience while supporting environmental initiatives.
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