The Macerich Company reported a net loss attributable to the company of $27,071 thousand for the three months ended June 30, 2026 and $63,421 thousand for the first six months, both narrower than the prior-year losses. Total revenues were $249,707 thousand for the quarter and $491,245 thousand year‑to‑date, slightly below 2025 levels.
Total assets were $8,523,895 thousand and stockholders’ equity increased to $2,827,198 thousand, supported by equity issuance. Mortgage notes payable declined to $4,848,075 thousand. Net cash provided by operating activities was $144,248 thousand, while investing outflows reflected property spending, including the Annapolis Mall acquisition at a $272,000 thousand fair value.
Macerich strengthened liquidity by upsizing and extending its revolving credit facility to $900,000 thousand and completing a $463,680 thousand common stock offering, alongside forward sale agreements for 16,100,000 shares. A quarterly cash dividend of $0.17 per share was declared for common stockholders.
The Macerich Company reported Q2 2026 results showing a narrower net loss attributable to the Company of $27.1 million, or $(0.10) per diluted share, compared with a net loss of $40.9 million, or $(0.16) per share, a year earlier, helped by a gain on sale of assets. FFO, as adjusted, rose to $100.4 million, or $0.35 per diluted share, from $88.7 million, or $0.34 per share, while Go-Forward Portfolio Centers NOI excluding lease termination income increased 3.8%.
Operational metrics strengthened, with leased portfolio occupancy at 94.0% as of June 30, 2026 (95.5% for Go-Forward Portfolio Centers), up from 92.0% a year earlier. Portfolio tenant sales per square foot for spaces under 10,000 square feet over the trailing twelve months rose to $919 from $849, and the company signed about 1.3 million square feet of leases in the quarter, supporting an estimated $124 million new-store revenue pipeline at its share through 2028.
On the balance sheet, Macerich acquired Annapolis Mall for $260 million plus a $12 million adjacent parcel and financed it partly with its revolver. It raised approximately $23.8 million of gross proceeds through its ATM program and completed a 22,080,000-share underwritten offering at $21.00, generating net proceeds of $448.2 million mainly used to repay revolver borrowings and fund investments. A 16.1 million-share forward offering at $23.90 provides additional future equity. Total portfolio debt at share was $6.34 billion, with Net Debt to Adjusted EBITDA of 7.30x (6.83x pro forma for unsettled forward equity), and liquidity was about $1.2 billion, including the full $900 million revolving credit facility. A quarterly cash dividend of $0.17 per share was declared, payable September 28, 2026.
Stephen Andrea M reported acquisition or exercise transactions in this Form 4 filing.
Macerich director Andrea M. Stephen received a grant of 32.66 Phantom Stock Units, a form of deferred equity compensation tied to the company’s common stock on a 1-for-1 basis. This brings her total Phantom Stock Units to 47,514.08, including 741.49 units previously accrued through the plan’s dividend reinvestment feature. The units generally become payable in common stock in five equal annual installments starting on the January 1 following termination of service, based on an earlier distribution election under the plan.
HERNANDEZ ENRIQUE JR reported acquisition or exercise transactions in this Form 4 filing.
Macerich director Enrique Hernandez Jr received a grant of 784.0500 phantom stock units linked to common stock as compensation. These units are convertible on a 1-for-1 basis and generally pay out in five equal annual installments after service ends. His holdings now total 35259.8600 phantom stock units, including 543.33 previously unreported units from the plan’s dividend reinvestment feature.
The Macerich Company reports that underwriters have fully exercised a 30-day option related to its recent equity offering, triggering additional forward sale agreements for 2,100,000 shares of common stock at $23.12325 per share. These shares are being sold by forward sellers who borrowed stock from third parties.
The company has entered into additional forward sale agreements tied to these option shares and expects to physically settle them and receive cash proceeds from the sale of those shares no later than June 16, 2027, though it may instead choose cash or net share settlement. Macerich plans to contribute any net proceeds to its operating partnership, which intends to use the funds for future acquisitions and general corporate purposes, with temporary investment in short-term, interest-bearing accounts.
The Macerich Company entered into an underwritten forward equity offering tied to 14,000,000 shares of its common stock. Forward sellers borrowed and sold the shares to the underwriters, and Macerich entered into related Forward Sale Agreements with multiple forward purchasers.
The company granted the underwriters a 30-day option for up to an additional 2,100,000 shares through Additional Forward Sale Agreements. The Forward Sale Agreements carry an initial forward price of $23.12325 per share and are expected to be physically settled in cash no later than June 16, 2027, though cash or net share settlement is also permitted.
Macerich plans to contribute the net proceeds from settling the Forward Sale Agreements to The Macerich Partnership, L.P., which intends to use the funds for future acquisitions and general corporate purposes, with temporary investment in short-term, interest-bearing deposits.
The Macerich Company intends to offer 14,000,000 shares of its common stock through forward sale agreements with Goldman Sachs, Deutsche Bank, J.P. Morgan and Morgan Stanley, with an underwriter option for an additional 2,100,000 shares. The offering uses forward purchasers who initially sell borrowed shares; the Company will not initially receive proceeds.
The Company expects to physically settle the forward sale agreements on one or more forward settlement dates, expected no later than approximately 12 months from the prospectus supplement. Assuming full physical settlement at an initial forward sale price of $23.12325 per share, estimated net proceeds to the Company are approximately $323,725,500. The Company granted a limited waiver of its 5.0% ownership charter limit to the forward purchasers for this offering.
The Macerich Company is offering 14,000,000 shares of its common stock pursuant to a preliminary prospectus supplement. The offering will be effected through forward sale agreements with Goldman Sachs & Co. LLC and other forward purchasers; the company will not initially receive proceeds from shares sold by the forward purchasers.
The forward sale agreements are expected to be physically settled no later than approximately 12 months from the prospectus supplement date, though the company may elect cash or net share settlement. The underwriters have an option to purchase up to an additional 2,100,000 shares for 30 days.
The Macerich Company reported the results of its annual meeting of stockholders held on June 1, 2026. Stockholders elected eight directors to serve until the next annual meeting, with each nominee receiving over 214 million votes in favor.
Stockholders approved the compensation of the company’s named executive officers, with 211,705,512 votes for, 17,257,788 against and 104,018 abstentions, and 11,123,711 broker non-votes. They also ratified the appointment of KPMG LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 237,981,568 votes for, 2,023,584 against and 185,877 abstentions.
HERNANDEZ ENRIQUE JR reported acquisition or exercise transactions in this Form 4 filing.
MACERICH CO director Enrique Hernandez Jr reported a compensation-related stock award. He received 6,720 shares of Common Stock as a grant of restricted stock units at a price of $0.0000 per share under The Macerich Company 2003 Equity Incentive Plan.
The award is non-cash compensation and the restricted stock units vest one year after the award date. The filing notes 1,818 previously unreported restricted stock units credited as dividend equivalents under the plan’s deferral feature. Following the grant, Hernandez directly holds 71,444 shares and indirectly holds 18,416 shares through a living trust.