Macerich Stock Price, News & Analysis

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.

Macerich announces Dillard's plans to construct a new 220,000-square-foot flagship store at South Plains Mall, Lubbock, Texas, replacing two existing locations. Construction begins immediately with an opening expected in early 2024. Dillard's CEO highlights the expansion as a testament to the brand's 50-year commitment to local customers. The new store will feature modern design and product offerings tailored to West Texas consumers, enhancing shopping options in the region. This development is anticipated to attract additional retailers to the mall.

The Macerich Company (NYSE: MAC) announced its Third Quarter 2022 earnings on November 3, 2022. The financial results and supplemental information are available on their investor relations website. A conference call to discuss these results was scheduled for the same day at 10:00 a.m. PT (1:00 p.m. ET). Macerich, a leading real estate investment trust focused on retail properties in densely populated areas, emphasizes sustainability with a top GRESB ranking for the retail sector for 2015-2022. Further details can be accessed via their official website.

The Board of Directors of Macerich (NYSE: MAC) has approved a quarterly cash dividend increase to $0.17 per share from $0.15, effective December 2, 2022, for stockholders on record by November 9, 2022. This increase reflects the company’s resilient business model and strong operating cash flow, according to CEO Tom O'Hern. Macerich aims to maintain a conservative Funds from Operations (FFO) payout ratio while resuming regular dividend increases. The company operates high-quality retail properties primarily in California and other attractive U.S. markets.