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.
On March 1, 2023, Macerich announced that Zara, a leading European fashion retailer, will open its first location in Queens Center, a top-performing property within the Macerich portfolio. This multi-level store aims to enhance the retail experience in Elmhurst, New York, catering to a diverse customer base. The Queens Center is a prominent shopping destination featuring other major brands such as Macy's and Apple. The addition of Zara underscores Macerich's commitment to attracting high-quality tenants and driving foot traffic at its properties.
Macerich (NYSE: MAC) announces a new partnership with the fashion retailer Primark, which will open a 54,562 square foot store at Queens Center in New York City. This marks the seventh Primark location in a Macerich property, reinforcing the collaboration between the two brands.
Queens Center is noted for its impressive sales performance, averaging over $1,700 per square foot, making it a prime retail destination. Macerich believes Primark's arrival will enhance traffic to the center, attracting a diverse customer base. The partnership aims to leverage Queens Center's popularity to boost sales and customer engagement.
The Macerich Company (NYSE: MAC) has announced its Fourth Quarter 2022 earnings results, which are now available on its Investor Relations website. A conference call will take place today, February 7, 2023, at 10:00 a.m. PT to discuss these results. The call can be accessed via live webcast or by phone for international listeners. Macerich is a prominent real estate investment trust specializing in high-quality retail properties across key U.S. markets, managing 47 million square feet of real estate in various regions, including California and the Metro New York area. Macerich also emphasizes sustainability and corporate governance as part of its operational strategy.
The Board of Directors of Macerich (NYSE: MAC) has declared a quarterly cash dividend of $.17 per share, payable on March 3, 2023. This dividend will be provided to stockholders of record at the close of business on February 17, 2023. Macerich operates as a leading real estate investment trust (REIT), focusing on high-quality retail real estate primarily in densely populated U.S. markets, including California and the Metro New York area. The company's commitment to sustainability is highlighted by its #1 GRESB ranking in the North American retail sector for eight consecutive years.
The Macerich Company (NYSE: MAC) announced tax classifications for its 2022 dividend distributions totaling
- February 18, 2022: $0.15, $0.12 ordinary, $0.07 Section 199A, $0.05 Qualified, $0.01 Capital Gain, $0.02 Nondividend.
- May 20, 2022: $0.15, $0.12 ordinary, $0.07 Section 199A, $0.05 Qualified, $0.01 Capital Gain, $0.02 Nondividend.
- August 19, 2022: $0.15, $0.12 ordinary, $0.07 Section 199A, $0.05 Qualified, $0.01 Capital Gain, $0.02 Nondividend.
- November 9, 2022: $0.17, $0.13 ordinary, $0.07 Section 199A, $0.06 Qualified, $0.02 Capital Gain, $0.02 Nondividend.
The classification aids shareholders in accurate tax reporting for their dividends.
Macerich (NYSE: MAC) announced the opening of a 48,000-square-foot ARTE MUSEUM at Santa Monica Place, set to debut in late 2023. This flagship U.S. location aims to attract one million visitors annually, making it a prime venue in Southern California. The museum replaces the former ArcLight Cinemas and is part of a broader strategy to enhance retail and entertainment offerings. Cory Scott, Executive VP of Asset Management, emphasized the museum's alignment with evolving consumer preferences. ARTE MUSEUM, produced by d'strict, has already seen success in Korea, attracting 3.7 million visitors in 26 months since its launch in 2020.
Macerich (NYSE: MAC) has announced the scheduling of its Fourth Quarter 2022 Earnings Release set to be made public before market open on February 7, 2023. The management will host a conference call at 10:00 AM PT (1:00 PM ET) on the same day to discuss the results. Interested parties can listen via a live webcast on the company's website, with an audio replay available for 90 days. Macerich operates a portfolio of retail properties, emphasizing sustainable practices, having achieved a top GRESB ranking for the North American retail sector since 2015.
Macerich (NYSE: MAC) announced progress on significant financing transactions aimed at addressing debt maturities. As of January 3, 2023, they closed a $370 million refinance of loans related to Green Acres Mall and Green Acres Commons in Valley Stream, NY, with a fixed interest rate of 5.90%. Additionally, a $300 million loan on Santa Monica Place was extended to December 2025. A refinancing of a $405 million mortgage loan for Scottsdale Fashion Square is also in progress, projected to yield $700 million, enhancing liquidity by nearly $150 million.
Macerich (NYSE: MAC) has been recognized for the seventh consecutive year on CDP's annual A List for its leadership in corporate transparency and climate change performance. The company achieved this distinction from over 15,000 firms evaluated. Macerich's commitment to carbon neutrality by 2030 and its comprehensive environmental, social, and governance (ESG) strategy underscore its efforts in resource stewardship. It holds notable rankings, including the #1 GRESB position for the North American retail sector for eight years. CEO Tom O'Hern emphasizes the intersection of financial responsibility and sustainability.
The Macerich Company (NYSE: MAC) will hold an Investor Day on November 29-30, 2022, in Scottsdale, Arizona. The webcast is scheduled for November 30, starting at 8:00 a.m. MST and concluding at 12:30 p.m. MST. Key executives, including CEO Tom O'Hern and CFO Scott Kingsmore, will address the current operating environment, strategies, and financial matters relevant to investors. The event will be accessible via live webcast, with replay options available on Macerich's website. Macerich is a leading REIT, owning and managing 48 million square feet of retail space in key U.S. markets.
FAQ
What is the current stock price of Macerich (MAC)?
What is the market cap of Macerich (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?
