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) will release its Fourth Quarter 2021 Earnings on February 10, 2022, before market open. A conference call will follow at 10:00 AM PT (1:00 PM ET) to discuss the results. Investors can listen live via the company’s website. Macerich is a leading real estate investment trust (REIT) focused on acquiring, leasing, and managing regional malls in the U.S., particularly in densely populated areas along the West Coast and the Northeast. The company has been recognized for its sustainability efforts.
Macerich (NYSE: MAC) announces the addition of Pinstripes, an experiential dining and entertainment venue, to Broadway Plaza in Walnut Creek, California, set to open in late 2022. The 23,000 square-foot venue will provide Italian/American cuisine alongside bowling and bocce experiences. Macerich reports a 20% increase in comparable tenant sales in October compared to October 2019, and a 26% rise in signed leases over pre-COVID levels. These developments aim to enhance Broadway Plaza's appeal, contributing to the growth of Macerich's portfolio.
Macerich (MAC) and Life Time (LTH) announced plans for a new luxury athletic resort at Scottsdale Fashion Square, Arizona, set to open in 2023. This 40,000-square-foot facility will be Life Time's seventh location in Arizona and aims to enhance the shopping center's luxury offerings. The resort will feature group fitness studios, a rooftop beach club, and high-end amenities. This collaboration is part of Macerich's strategy to diversify its properties and enhance customer experiences in its premium retail locations.
The Macerich Company (NYSE: MAC) released its Third Quarter 2021 Earnings Results on November 3, 2021. The results are available on their investor relations website. A conference call discussing these results is scheduled for today at 10:00 am PT. Macerich, a leading real estate investment trust, operates 45 regional town centers across the U.S., focusing on attractive retail properties. The company has been recognized for its sustainability efforts, holding the top GRESB ranking in North American Retail for seven consecutive years.
Macerich (NYSE: MAC) announced the opening of a new Target store at Kings Plaza in Brooklyn, occupying a 90,000-square-foot space formerly held by JCPenney. This addition enhances Kings Plaza's status as the largest enclosed retail shopping center in Brooklyn and reflects a resurgence in local in-person shopping. The new Target joins other notable anchor replacements across Macerich's East Coast properties, including Primark and Scheel's All Sports. Macerich, a leading retail and mixed-use property owner, manages 49 million square feet across 45 centers, focusing on prime markets.
The Board of Directors of the Macerich Company declared a quarterly cash dividend of $.15 per share of common stock. This dividend will be paid on December 3, 2021 to stockholders of record by the close of business on November 9, 2021. Macerich is a self-managed real estate investment trust (REIT) focused on regional malls in the U.S., owning 49 million square feet across 45 shopping centers. The company has achieved #1 GRESB ranking in the North American Retail Sector for sustainability for seven consecutive years.
Macerich (NYSE: MAC) has been ranked #1 in GRESB's U.S. retail sector for the seventh consecutive year. In addition to its leadership in the U.S., Macerich secured the top spot for retail in the Americas and achieved a score of A for disclosure. This recognition highlights Macerich's commitment to sustainability and operational excellence. The company aims for carbon neutrality by 2030, as detailed in its June 2021 Corporate Responsibility Report, emphasizing strong environmental, social, and governance (ESG) performance.
Macerich has announced the schedule for its Third Quarter 2021 Earnings Release on November 3, 2021, before the market opens. A conference call will take place at 10:00 AM PT to discuss the results. Investors can listen live via a webcast on the company's website. A replay of the call will be available for 90 days following the event. Macerich, a self-managed REIT, owns 49 million square feet of real estate and has been recognized for sustainability excellence.
Macerich (NYSE: MAC) announced the launch of QuikSpace, a new digital platform aimed at simplifying short-term retail leasing. This platform offers one-click lease execution for terms up to 12 months, along with tools for account management and payment processing. Currently operational at six Macerich properties, QuikSpace will be rolled out portfolio-wide in early 2022. The initiative, in partnership with Yardi, aims to improve tenant engagement and streamline the leasing process, making it as effortless as booking a vacation home.
Macerich (NYSE: MAC) announced the sale of La Encantada, a retail asset in Tucson, AZ, for $165.3 million on September 17, 2021, generating approximately $100 million in liquidity. This transaction follows the sale of 95% of Paradise Valley Mall in March 2021, which brought in around $95 million. Combined, these non-core asset sales have generated over $200 million of liquidity in 2021. The company is also working on a land and pad sale program aimed at producing an additional $100 million from 2021 to 2023.
FAQ
What is the current stock price of The Macerich Company (MAC)?
What is the market cap of The Macerich Company (MAC)?
What does The Macerich Company specialize in?
Where are Macerich's primary markets?
What recent acquisitions has Macerich made?
What is Macerich's total portfolio size?
How does Macerich perform in terms of sustainability?
What is the average sales per square foot in Macerich's properties?
How can investors get more information about Macerich?
What is the significance of Arrowhead Towne Center for Macerich?
What are Macerich's main strategies?
Who can be contacted for investor relations at Macerich?
