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.
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.
The Macerich Company (NYSE: MAC) reported its First Quarter 2021 earnings results on May 11, 2021. The results, including key metrics, are available on its investor relations website. Management is set to discuss these results in a conference call today at 10:00 am PT. Macerich, a self-managed REIT, owns 50 million square feet of real estate across 46 regional shopping centers, primarily focusing on high-demand markets. The company has been recognized for its sustainability efforts, holding the #1 GRESB ranking in the North American Retail Sector for six consecutive years (2015-2020).
Macerich (NYSE: MAC) announced the addition of Primark stores to Tysons Corner Center and Green Acres Mall. This expansion strengthens their partnership with Primark, which already includes four other U.S. locations. The new stores are part of a recovery strategy as leasing demand approaches pre-COVID levels, with increased shopper traffic reported. Primark is recognized for providing affordable fashion, and the new locations aim to attract more customers to Macerich's high-performing properties in key markets.
Macerich (NYSE: MAC) has announced a rescheduling of its First Quarter 2021 Earnings Release, now set for May 11, 2021, before market open. The management will host a conference call at 10:00 am PT to discuss the quarterly results. Interested parties can access the live webcast on Macerich's website. The company, known for its focus on regional malls, owns approximately 50 million square feet of real estate across 46 shopping centers, particularly in densely populated markets on the West Coast and the Metro New York to Washington, DC corridor.
The Board of Directors of Macerich has declared a quarterly cash dividend of $0.15 per share on its common stock. This dividend is set to be paid on June 3, 2021, to stockholders of record by the close of business on May 7, 2021. Macerich focuses on the acquisition, leasing, and management of regional malls across the United States, owning around 50 million square feet of real estate, primarily in 46 regional shopping centers. The company has been recognized for sustainability, holding the #1 GRESB ranking in the North American Retail Sector for six consecutive years.
Macerich (NYSE: MAC) has announced its earnings release for the first quarter of 2021, scheduled for May 12, 2021, before market open. The management will hold a conference call at 10:00 am PT to discuss the results. Investors can listen via the company's website. Macerich operates 46 regional shopping centers across the U.S., focusing on prime retail properties, particularly in densely populated areas. The company has consistently demonstrated leadership in sustainability, achieving the #1 GRESB ranking in the North American Retail Sector from 2015 to 2020.
The Macerich Company (NYSE: MAC) has successfully renewed its corporate credit facility, totaling $700 million. This facility includes a $525 million revolving credit line and a $175 million term loan, with $495 million already drawn. The interest rate is set at LIBOR + 2.75%. The renewal allows for a potential increase of the revolver up to $800 million. Additionally, nearly $1 billion of debt was repaid at closing, reflecting the company's strategy to reduce leverage over time.
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