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The Macerich Company - MAC STOCK NEWS

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.

News

The Macerich Company Announces CEO Change

Rhea-AI Summary
Macerich Company announces the retirement of CEO Tom O'Hern after 30 years of service, with Jackson Hsieh named as his successor. Hsieh's extensive real estate experience and successful track record make him a suitable choice to lead the company. The retirement of O'Hern and President Edward Coppola marks the end of an era, as both have played pivotal roles in the company's growth and success. Macerich is poised for long-term growth and success with a focus on delivering unique experiences for shoppers and enhanced value for stockholders.
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Macerich Declares the Quarterly Dividend on Its Common Shares

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The Macerich Company (MAC) has declared a quarterly cash dividend of $.17 per share of common stock, payable on March 4, 2024. The dividend is a positive sign for investors, indicating the company's financial stability and commitment to shareholder value.
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Macerich to Welcome Level99 to Tysons Corner Center

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Macerich (NYSE: MAC) will introduce Level99, an interactive entertainment destination for adults, to Tysons Corner Center in 2025. The 40,000-square-foot space will offer live-action, challenge-based entertainment, craft beverages, and farm-to-table dining, catering to grown-ups. Level99 CEO, Matt DuPlessie, highlighted the open-world format for guests to discover and explore, offering mental, physical, communication, and skill challenges. The space will accommodate up to 600 players/guests simultaneously, fueled by a 300-seat taproom and scratch kitchen.
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Macerich to Welcome Life Time to Twenty Ninth Street in Boulder

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Macerich announces the arrival of Life Time, a luxury health and wellness brand, at Twenty Ninth Street in Boulder, Colorado in 2025. The 40,000-square-foot space will replace the former Colorado Athletic Club, offering high-quality fitness and lifestyle programs. The move is expected to enhance the wellness and lifestyle offerings at Twenty Ninth Street, adjacent to Google's Boulder campus and the University of Colorado Boulder.
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Macerich Announces Tax Treatment Of 2023 Dividends

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The Macerich Company (MAC) disclosed the tax treatment for dividend distributions taxable in 2023 on its Common Stock. In 2023, Macerich paid dividends of $.68 per share, classified for income tax purposes as Taxable Ordinary Dividends and Section 199A Dividends. The company's Record Date, Payable Date, and Rate per Share for each dividend distribution in 2023 were also provided.
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Macerich Schedules Fourth Quarter 2023 Earnings Release and Conference Call

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Macerich (MAC) has scheduled the release of its fourth-quarter 2023 earnings results for February 7, 2024, before the market opens. The management will hold a conference call at 10:00 am Pacific Time on the same day to discuss quarterly results. Participants can join the conference call by telephone or live webcast, with a replay available for 90 days following the live webcast.
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Hudson Pacific and Macerich Complete $700 Million Sale of One Westside and Westside Two

Rhea-AI Summary
Hudson Pacific Properties, Inc. (NYSE: HPP) and Macerich (NYSE: MAC) announced the sale of One Westside and Westside Two in Los Angeles to the Regents of the University of California for $700 million. Hudson Pacific held a 75% interest and Macerich a 25% interest in the joint venture that owned the assets, which total approximately 687,000 square feet. The sale significantly bolsters Hudson Pacific's balance sheet, with no debt maturities until year-end 2025. Macerich also aims to maximize value for stakeholders and improve liquidity profile with the net proceeds. Hudson Pacific used net proceeds to repay amounts outstanding on its unsecured revolving credit facility, addressing debt maturities until December 2025 and strengthening compliance with unsecured revolving credit facility covenants.
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Macerich Completes $710 Million Refinancing of Tysons Corner Center

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Macerich (NYSE: MAC) announced the successful closure of a $710 million refinance for Tysons Corner Center in Northern Virginia. The new CMBS loan has a fixed interest rate of 6.60% and matures on Dec. 6, 2028, replacing an existing $666 million loan. Tysons Corner Center, a 1.8 million square foot retail powerhouse, generates $1,200 sales per square foot and had a leased occupancy of 96% as of Q3 2023.
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Macerich Reports Third Quarter 2023 Results

Rhea-AI Summary
The Macerich Company has released its Third Quarter 2023 Earnings Results and Supplemental Information. A conference call will be held to discuss quarterly results. Participants can join the call by telephone or access the webcast. A replay of the webcast will be available for 90 days.
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Macerich Declares the Quarterly Dividend on Its Common Shares

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Macerich Company declares quarterly cash dividend of $.17 per share of common stock.
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FAQ

What is the current stock price of The Macerich Company (MAC)?

The current stock price of The Macerich Company (MAC) is $20.26 as of December 20, 2024.

What is the market cap of The Macerich Company (MAC)?

The market cap of The Macerich Company (MAC) is approximately 5.1B.

What does The Macerich Company specialize in?

Macerich specializes in the acquisition, leasing, management, development, and redevelopment of regional malls across the United States.

Where are Macerich's primary markets?

Macerich has a significant presence in California, Arizona, Chicago, the Greater New York Metro area, and Washington, D.C.

What recent acquisitions has Macerich made?

Macerich recently acquired the remaining 40% share in Arrowhead Towne Center and South Plains Mall from its joint venture partner.

What is Macerich's total portfolio size?

Macerich's total portfolio encompasses 46.3 million square feet of gross leasable area.

How does Macerich perform in terms of sustainability?

Macerich has earned the #1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for nine consecutive years (2015-2023).

What is the average sales per square foot in Macerich's properties?

The portfolio averaged $836 sales per square foot over the 12 months ending in December 2023.

How can investors get more information about Macerich?

Investors can visit Macerich’s Investor Relations website at investing.macerich.com or follow the company on social media platforms like LinkedIn.

What is the significance of Arrowhead Towne Center for Macerich?

Arrowhead Towne Center is a top-performing mall located in a high-growth area of Metro Phoenix, with significant projected benefits from nearby investments like the Taiwan Semiconductor Manufacturing Company.

What are Macerich's main strategies?

Macerich focuses on reducing leverage, simplifying business operations, and advancing sustainability, social good, and corporate governance.

Who can be contacted for investor relations at Macerich?

For investor relations, contact Samantha Greening at Samantha.Greening@macerich.com.

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The Macerich Company

NYSE:MAC

MAC Rankings

#1265 Ranked by Market Cap
#958 Ranked by Dividends

MAC Stock Data

5.08B
249.84M
0.59%
83.08%
6.34%
REIT - Retail
Real Estate Investment Trusts
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United States of America
SANTA MONICA