Macerich Stock Price, News & Analysis

The Macerich Company (NYSE: MAC) announced the tax treatment for 2020 dividends, amounting to $1.55 per share. These dividends consist of qualified REIT dividends under Internal Revenue Code section 199A. Key dates include record dates ranging from February 21 to November 9, 2020, with payable dates from March 3 to December 3, 2020. The dividends classified for the year are $0.04 ordinary, $0.02 capital gain distributions, and $0.70 nondividend distributions. Macerich is recognized for its sustainability efforts, achieving CDP A List status for five consecutive years.

Macerich (NYSE: MAC) has received the Bureau Veritas SafeGuard™ Hygiene Excellence and Safety Certification for 11 of its retail centers, ensuring adherence to high hygiene and safety protocols. This certification minimizes on-site virus risks, enhancing consumer confidence in shopping at their properties. The newly implemented measures include intensified cleaning, mask requirements, and upgraded HVAC systems. All 47 Macerich centers are following similar stringent health guidelines, marking a significant step in prioritizing customer and employee safety.

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.