Macerich Stock Price, News & Analysis

The Macerich Company (NYSE: MAC) has announced its Board of Directors has declared a quarterly cash dividend of $0.17 per share of common stock. The dividend will be paid on March 18, 2025, to shareholders who are recorded as stockholders at the close of business on March 4, 2025.

Macerich (NYSE: MAC) has announced its schedule for the Fourth Quarter 2024 earnings release and conference call. The company will release its earnings results before market open on Thursday, February 27, 2025. Management will host a conference call at 10:00 am Pacific Time (1:00 pm Eastern Time) on the same day to discuss the quarterly results.

Participants can join via telephone by registering through a dial-in link or access the live webcast through the company's Investors Section. A replay of the webcast will be available in the Investors Section of Macerich's website after the live event.

Macerich (NYSE: MAC) has appointed Devin Murphy to its Board of Directors, effective February 1, 2025, expanding the board to nine directors with eight being independent. Murphy brings significant retail REIT experience, having served as President of Phillips Edison & Company (PECO) from 2019 to 2024 and CFO for six years prior. He also brings nearly three decades of investment banking experience, including senior roles at Morgan Stanley and Deutsche Bank, where he led over 500 transactions worth more than $400 billion as Global Head of Real Estate Investment Banking.

The appointment aligns with Macerich's Path Forward plan, launched in May, which focuses on simplifying business operations, improving performance, and reducing leverage. Murphy currently serves as a Senior Advisor to Fifth Wall and as a Director of CoreCivic, bringing additional governance experience to the board.

Macerich (NYSE: MAC) has disclosed the tax treatment for its 2024 dividend distributions on Common Stock. The company paid total dividends of $0.68 per share during the calendar year, distributed in four equal quarterly payments of $0.17 per share.

For each quarterly dividend payment, the tax treatment breakdown was consistent: $0.09 was classified as Capital Gain Distribution and $0.08 as Nondividend Distribution. Notably, there were no Taxable Ordinary Dividends, Section 199A Dividends, or Qualified Dividends for the year.

Macerich (NYSE: MAC) has priced an upsized public offering of 20 million shares of common stock at $19.75 per share, expecting to raise approximately $395 million in gross proceeds. The offering, increased from the initially announced 18 million shares, includes a 30-day option for underwriters to purchase up to 3 million additional shares. The company plans to use the proceeds, along with cash on hand, to repay a $478 million mortgage loan with a 9.0% fixed interest rate secured by its Washington Square property. The offering is expected to close on November 27, 2024.

Macerich (NYSE: MAC) has announced a public offering of 18,000,000 shares of common stock, with underwriters having a 30-day option to purchase up to 2,700,000 additional shares. The company plans to use the net proceeds, along with cash on hand from recent 'at the market' offering sales, to repay a $478.0 million mortgage loan with approximately 9.0% fixed interest rate secured by its Washington Square property. Goldman Sachs & Co. is serving as the lead bookrunner for the offering.

The Macerich Company (NYSE: MAC) has announced the release of its Third Quarter 2024 Earnings Results and Supplemental Information, which has been posted to the Investor Relations section of their website. The company has scheduled a conference call for November 6, 2024, at 10:00 a.m. Pacific Time to discuss the quarterly results. Interested participants can join via telephone through a registration process or access the live webcast through the company's website. A replay of the webcast will be available for 90 days following the live broadcast.

Macerich Company (NYSE: MAC) has appointed Daniel E. Swanstrom II as its new Chief Financial Officer, effective November 16, 2024. Swanstrom brings over 20 years of real estate experience, including roles as CFO at two public REITs and as a former Morgan Stanley investment banker. The current CFO, Scott Kingsmore, will transition to Senior Advisor until December 31, 2024, after serving the company for almost 30 years.

Macerich (NYSE: MAC) has achieved the #1 ranking among U.S. retail companies in the GRESB Real Estate Assessment for the tenth consecutive year. The company ranked #3 in Retail, Americas, and received the GRESB Green Star rating. As part of its sustainability initiatives, Macerich aims to achieve full net-zero carbon emissions by 2040, including its supply chain.

The company ranks #23 on the EPA Green Power Partnership On-Site Generation list for solar generation and is recognized among Newsweek's 'America's Most Responsible Companies.' The 2024 GRESB Assessment included 2,223 portfolios representing $7 trillion in gross asset value across 80 markets.