Macerich Stock Price, News & Analysis

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.

The Macerich Company (NYSE: MAC) announced a quarterly cash dividend of $.15 per share, to be paid on December 3, 2020. Stockholders of record will be those on file as of the close of business on November 9, 2020. Macerich is a self-managed REIT specializing in the acquisition and management of regional malls across the United States, owning 51 million square feet of real estate in key markets including the West Coast and Metro New York. The company has maintained a strong sustainability record, ranking #1 in the North American Retail Sector for five consecutive years (2015-2019).

Macerich (NYSE: MAC) has announced enhanced safety protocols for holiday shoppers across its retail properties. The company emphasizes health and well-being with intensified cleaning, mask requirements, and improved air filtration systems. Shoppers will enjoy extended hours, curbside pickup, and contactless payment options. Notably, all Macerich centers will be closed on Thanksgiving but will open early on Black Friday. Santa visits will also be reimagined to ensure safety. The company aims to provide a comfortable shopping environment, adapting to current health concerns.

Macerich (NYSE: MAC) announced that all 47 of its major retail properties will fully reopen on October 7, 2020, following the approval for indoor mall operations in LA County. This reopening comes just in time for the anticipated early holiday shopping season. CEO Tom O'Hern emphasized the company's commitment to shopper safety, implementing enhanced cleaning protocols and hospital-grade air filtration systems. Macerich properties contribute significantly to local economies, generating approximately $1.1 billion in sales tax and $225 million in property taxes, supporting essential services.

Macerich (NYSE: MAC) has scheduled its Third Quarter 2020 Earnings Release for November 5, 2020, before market open. A management conference call will follow at 10:00 AM PT to discuss results. Interested parties can access the call via webcast on the Macerich website. The company owns 51 million square feet of real estate, focusing on regional shopping centers in key markets across the U.S., including the West Coast and Metro New York. Macerich is recognized for its sustainability efforts, achieving a top ranking in the GRESB for five consecutive years.

Macerich (NYSE: MAC) announced that 44 of its 47 major retail properties in the U.S. are now fully operational following eased COVID-19 restrictions. Key locations in New York City and six California shopping centers reopened, allowing shoppers back in. Macerich's properties are crucial economic drivers, supporting approximately 110,000 jobs and generating $1.1 billion in sales tax revenues. The company is enhancing health protocols, including upgraded HVAC systems. Cash reserves rose from $573 million in June to $649 million by August 2020, with a $95 million financing expected in Q4 2020.

The Macerich Company (NYSE: MAC) reported a net loss of $25.1 million or $0.18 per share-diluted for Q2 2020, a swing from net income of $15.7 million or $0.11 per share-diluted in Q2 2019. Funds from operations (FFO) also declined to $60.5 million or $0.39 per share-diluted, down from $133.6 million or $0.88 per share-diluted year-over-year. Despite challenges posed by COVID-19, the company is opening over 90 new stores in 2020. While occupancy rates dropped to 91.3%, average rent increased 2.1%. A dividend of $0.15 per share has been declared, reflecting a strategic move to preserve liquidity.

The Macerich Company (NYSE: MAC) has declared a quarterly cash dividend of $.15 per share, payable on September 8, 2020. Stockholders of record by August 19, 2020, will receive this dividend. The decision to reduce the dividend is aimed at preserving liquidity amid economic uncertainties due to the COVID-19 pandemic. CEO Thomas O'Hern stated that the Board will reassess the dividend policy quarterly. Macerich operates 47 regional shopping centers, focusing on high-demand markets across the United States.

Macerich (NYSE: MAC) has scheduled the release of its Second Quarter 2020 Earnings results for August 11, 2020, before the market opens. Management will follow with a conference call at 10:00 AM PT to discuss the results. Interested parties can listen via a live webcast on the Macerich website. The company owns and manages 51 million square feet of retail space across 47 regional shopping centers, focusing on densely populated markets.