Macerich Stock Price, News & Analysis

Macerich (NYSE: MAC) has announced that Din Tai Fung, a renowned restaurant known for dumplings, will open a new location at Santa Monica Place. This venue, spanning 10,615 square feet, will offer ocean views and is positioned across from the upcoming ARTE Museum, expected to attract around 1 million annual visitors. The Santa Monica location is part of Din Tai Fung's expansion into Los Angeles, following their successful site in Oregon. The redevelopment of Santa Monica Place aims to enhance visitor experiences by incorporating popular dining options like Din Tai Fung.

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 $.62 per share. Key tax treatment details for each distribution include:

• 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.