Welcome to our dedicated page for Macerich news (Ticker: MAC), a resource for investors and traders seeking the latest updates and insights on Macerich 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 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.
Macerich (NYSE:MAC) will present at the BofA Securities 2021 Global Real Estate Conference taking place virtually from September 21-23, 2021. Key executives, including Tom O'Hern, Scott Kingsmore, and Doug Healey, will participate in a live roundtable on September 22, 2021 at 12:00 pm EST. The presentation will be streamed live and archived for replay until December 22, 2021. Macerich focuses on regional mall management and leasing, owning 50 million square feet across 46 shopping centers.
The Macerich Company (NYSE: MAC) reported its Second Quarter 2021 Earnings Results on August 4, 2021. Investors can find the full report on the Company's website. Management is set to discuss the results in a conference call at 10:00 AM PT. Macerich operates 46 regional shopping centers, owning 50 million square feet of real estate primarily in attractive markets on the West Coast and the East Coast. The Company has achieved a #1 ranking in sustainability in the North American Retail Sector for six consecutive years.
The Macerich Company (NYSE: MAC) announced a quarterly cash dividend of $.15 per share, payable on September 8, 2021, to stockholders of record by the close of business on August 19, 2021.
As a real estate investment trust (REIT), Macerich specializes in the acquisition, management, and development of regional malls across the United States, owning 50 million square feet of real estate, primarily in 46 shopping centers. The company has also achieved notable recognition for sustainability, holding the #1 GRESB ranking in North American Retail for six consecutive years (2015-2020).
Macerich (NYSE: MAC) has announced the schedule for its second quarter 2021 earnings release, set to take place before market open on August 4, 2021. A conference call will follow at 10:00 am PT to discuss the results. Interested parties can access a live webcast on the company's website. Macerich, a leading real estate investment trust, manages and redevelops regional malls across the U.S., owning approximately 50 million square feet of retail real estate.
Macerich (NYSE: MAC) released its 2020 Corporate Responsibility Report, highlighting its people-focused response to COVID-19, local stewardship, and employee wellness initiatives. The report emphasizes Macerich's commitment to achieving carbon neutrality by 2030, surpassing the Paris climate agreement timeline. Additionally, it showcases the company's transparent ethical practices and governance. Macerich owns 46 regional shopping centers across key U.S. markets, demonstrating leadership in sustainability with a consistent #1 GRESB ranking in the North American Retail Sector from 2015 to 2020.
Macerich has announced the opening of Arizona's first SCHEELS store at the Chandler Fashion Center, set to debut in fall 2023. This two-level, 222,000 square-foot retail space will take the place of a former Nordstrom store. The SCHEELS store will feature attractions like a 16,000-gallon saltwater aquarium, specialty shops, and a restaurant. Chandler's Mayor praised this development, highlighting the community's growth. Macerich's properties are performing well, with March sales in Arizona up 18% compared to March 2019, indicating strong consumer demand.
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