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.
Macerich (NYSE: MAC), a leading retail-focused real estate investment trust (REIT), provides investors and industry professionals with timely updates through this centralized news hub. Track official press releases, financial disclosures, and strategic developments related to the company’s portfolio of premium regional malls and urban retail properties.
This resource offers critical insights into Macerich’s operational milestones, including leasing activity, property redevelopments, and financial performance. Users gain access to verified information on earnings announcements, leadership updates, and market expansion initiatives across key regions like California, New York, and Washington, D.C.
For consistent monitoring of MAC’s retail real estate strategies, bookmark this page or visit regularly. All content is sourced directly from the company and reputable financial publications to ensure accuracy and compliance with regulatory standards.
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.
Macerich (NYSE: MAC) sold Paradise Valley Mall in Phoenix for $100 million, generating net proceeds of approximately $95 million. The transaction closed on March 29, 2021, and Macerich retains a 5% stake in the redevelopment project led by RED Development. The 92-acre site will undergo a multi-phase redevelopment to include diverse offerings such as residences, offices, and retail. This move aligns with Macerich's strategy to focus on high-quality properties amidst evolving retail trends.
On March 26, 2021, Macerich Company (NYSE: MAC) reported significant capital events, including the sale of 36 million shares at $13.54 each, raising approximately $487.3 million. The company is also under contract to sell a 95% stake in Paradise Valley Mall for $100 million, expected to yield $95 million in net proceeds. A new credit facility between $600 million and $800 million is anticipated. Macerich projects total liquidity of $1.65 billion to $1.85 billion post-transactions. Revised fiscal 2021 EPS guidance is between -$0.73 and -$0.53, with expected FFO per share at $1.77 to $1.97.
Macerich (NYSE: MAC) released its Fourth Quarter 2020 Earnings Results on February 11, 2021, highlighting the performance of its 47 regional shopping centers across the U.S. The company currently manages 50 million square feet of real estate and is recognized for its sustainability efforts, achieving CDP A List status for five consecutive years. A conference call discussing these results is scheduled for 10:00 am PT. Interested parties can access the call via the company's website or a designated phone line.
The Macerich Company (NYSE: MAC) has declared a quarterly cash dividend of $.15 per share, payable on March 3, 2021, to stockholders of record by February 19, 2021. Macerich is a major real estate investment trust specializing in the management and development of regional malls across the United States. It currently owns approximately 50 million square feet of real estate, including 47 shopping centers in key markets. The company is recognized for its sustainability efforts, holding CDP A List status for five years and GRESB Green Star rating for six years.
Macerich (NYSE: MAC) has scheduled its Fourth Quarter 2020 earnings release for February 11, 2021, prior to market open. The management conference call will take place at 10:00 AM PT (1:00 PM ET) on the same day. Investors can access the live webcast on the company's website. Macerich owns 50 million square feet of retail real estate, focusing on regional malls primarily in densely populated markets. The company has been recognized for its sustainability efforts, earning CDP A List status and GRESB Green Star ratings.
The Macerich Company (NYSE: MAC) announced the tax treatment for 2020 dividends, amounting to $1.55 per share. These dividends consist of qualified REIT dividends under Internal Revenue Code section 199A. Key dates include record dates ranging from February 21 to November 9, 2020, with payable dates from March 3 to December 3, 2020. The dividends classified for the year are $0.04 ordinary, $0.02 capital gain distributions, and $0.70 nondividend distributions. Macerich is recognized for its sustainability efforts, achieving CDP A List status for five consecutive years.
Macerich (NYSE: MAC) has received the Bureau Veritas SafeGuard™ Hygiene Excellence and Safety Certification for 11 of its retail centers, ensuring adherence to high hygiene and safety protocols. This certification minimizes on-site virus risks, enhancing consumer confidence in shopping at their properties. The newly implemented measures include intensified cleaning, mask requirements, and upgraded HVAC systems. All 47 Macerich centers are following similar stringent health guidelines, marking a significant step in prioritizing customer and employee safety.
The Macerich Company (NYSE: MAC) reported a net loss of $22.2 million, or $0.15 per share-diluted, for Q3 2020, a decline from a net income of $46.4 million, or $0.33 per share-diluted, in Q3 2019. Funds from operations (FFO) for the quarter were $83.4 million, down from $133.2 million in the previous year. Mall occupancy stood at 90.8%, while annual sales per square foot dropped to $718 from $800. Rent collections improved to 80% in Q3 and 81% in October. The board declared a quarterly dividend of $0.15 per share, payable December 3, 2020.
