Macerich Announces Appointment of Devin Murphy to Board of Directors

$MAC
Real Estate Investment Trusts
Real Estate
Get the next $MAC alert in real time by email

SANTA MONICA, Calif., Jan. 24, 2025 (GLOBE NEWSWIRE) -- Macerich (NYSE:MAC), one of the nation's leading owners, operators and developers of major retail properties in top markets, today announced the appointment of Devin Murphy to its Board of Directors, effective February 1, 2025.

With the addition of Mr. Murphy, Macerich's Board will have nine directors, eight of whom are independent.

A seasoned retail REIT executive, Mr. Murphy served for more than a decade at Phillips Edison & Company (PECO), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers. Mr. Murphy served as PECO's President from 2019 until 2024. He was the company's CFO for six years prior to becoming President in 2019. Mr. Murphy was elected to the Board of Directors of PECO, a NASDAQ-listed REIT, in July 2024.

Before joining PECO in 2013, Mr. Murphy worked for 28 years as an investment banker and held senior leadership roles at Morgan Stanley and Deutsche Bank. He was the Global Head of Real Estate Investment Banking at Deutsche Bank, where his team executed over 500 transactions, representing total transaction volume over $400 billion, and a Vice Chairman at Morgan Stanley.

"On behalf of my fellow board members, we are incredibly pleased to welcome Devin to the Macerich Board," said Jack Hsieh, President and CEO, Macerich. "Devin is a highly respected leader within the REIT industry, and he brings a wealth of experience and strategic counsel as we execute on the Path Forward plan. I look forward to working with Devin as we continue to execute on all our strategic priorities."

Last May, Macerich launched its detailed Path Forward plan designed to lead the company to elevated performance and forward its mission to add long-term value for shareholders, partners, and customers. Macerich's three-part plan is focused on simplifying its business, improving operational performance and reducing leverage.

"I am honored by the opportunity to join the Macerich Board as the company further positions itself as an industry leader under Jack's steady guidance," said Mr. Murphy. "I look forward to bringing my expertise in both the REIT and investment space in supporting the success of Macerich's well-crafted Path Forward strategy that concentrates the portfolio on its best properties and a substantially stronger balance sheet."

Mr. Murphy currently serves as a Senior Advisor to Fifth Wall, the largest venture capital firm focused on the global real estate industry. He is also a Director of CoreCivic, a NYSE-listed, diversified government solutions company, where he serves on the Audit and Risk committees and chairs the Nominating and Governance committee.

Mr. Murphy earned a B.A. in English and History with Honors from the College of William and Mary and an MBA from the University of Michigan.

About Macerich

Macerich is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 43 million square feet of real estate, consisting primarily of interests in 40 retail centers. Macerich is firmly dedicated to advancing environmental goals, social good, and sound corporate governance. A recognized leader in sustainability, Macerich has achieved a #1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for ten consecutive years (2015-2024). For more information, please visit www.Macerich.com.

Macerich uses, and intends to continue to use, its Investor Relations website, which can be found at investing.macerich.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about Macerich can be found through social media platforms such as LinkedIn. Reconciliations of non-GAAP financial measures, including NOI and FFO, to the most directly comparable GAAP measures are included in the earnings release and supplemental filed on Form 8-K with the SEC, which are posted on the Investor Relations website at investing.macerich.com.

MAC-I

SOURCE: Macerich

INVESTOR CONTACT: Samantha Greening, AVP Investor Relations, Samantha.Greening@macerich.com

MEDIA CONTACT: Arun Khosla, VP Corporate Communications, Arun.Khosla@macerich.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a9ae1e5-0f97-4988-9aef-f44ef2e2a4ed



Get the next $MAC alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$MAC

DatePrice TargetRatingAnalyst
1/15/2025$20.00Underweight → Equal-Weight
Morgan Stanley
1/2/2025$19.00 → $23.00Hold → Buy
Jefferies
12/17/2024$22.00Hold
Deutsche Bank
12/17/2024$22.00Sector Underperform → Sector Perform
Scotiabank
12/4/2024$14.00 → $22.00Underperform → Neutral
Mizuho
5/17/2024$16.00 → $14.00Sector Perform → Sector Underperform
Scotiabank
5/1/2024$17.00 → $11.00Neutral → Underweight
Piper Sandler
3/22/2024$8.00 → $17.00Sell → Neutral
Citigroup
More analyst ratings

$MAC
Press Releases

Fastest customizable press release news feed in the world

See more
  • Macerich and PenFed Credit Union Secure Exclusive Sponsorship Agreement for Tysons Corner Center Plaza

    A Media Snippet accompanying this announcement is available by clicking on this link. TYSONS, Va., March 20, 2025 (GLOBE NEWSWIRE) -- Macerich (NYSE:MAC), a leading owner, operator, and developer of major retail properties in top markets, has finalized terms with PenFed Credit Union, America's second-largest federal credit union, on a new multi-year sponsorship and member engagement agreement. This exclusive deal enhances the branding power and reach of Tysons Corner Center's experiential marketing programs and media network, engaging millions of shoppers and PenFed members annually. As a result, the outdoor event and community gathering space formerly known as "The Plaza" will now be c

    $MAC
    Real Estate Investment Trusts
    Real Estate
  • Macerich Advances HiFi, Outdoor Mixed-Use Development at FlatIron Crossing in Colorado, Names Entertainment Anchor

    A Media Snippet accompanying this announcement is available by clicking on this link. SANTA MONICA, Calif., March 06, 2025 (GLOBE NEWSWIRE) -- Macerich (NYSE:MAC), one of the nation's leading owners, operators and developers of major retail properties in top markets, today announced that Pindustry will anchor HiFi, its mixed-use outdoor development project adjacent to premier retail destination FlatIron Crossing. HiFi at FlatIron Crossing, Macerich's thriving property in Colorado's busy Denver-Boulder corridor, blends multifamily living, unique shopping, dining and entertainment with lush green spaces to create a new destination for all things fun. Pindustry –

    $MAC
    Real Estate Investment Trusts
    Real Estate
  • Macerich Reports Fourth Quarter 2024 Results

    SANTA MONICA, Calif., Feb. 27, 2025 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) has released its Fourth Quarter 2024 Earnings Results and Supplemental Information by posting it to the Investor Relations section of its website at investing.macerich.com. As previously announced, management will hold a conference call at 10:00 a.m. Pacific Time (1:00 p.m. Eastern Time) today, Thursday, February 27, 2025, to discuss quarterly results. Participants who wish to join the conference by telephone must register using the dial-in registration link below to receive the dial-in number and a personalized PIN code that will be required to access the call. Participants may join the live webcast b

    $MAC
    Real Estate Investment Trusts
    Real Estate

$MAC
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$MAC
Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

See more

$MAC
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$MAC
SEC Filings

See more

$MAC
Leadership Updates

Live Leadership Updates

See more
  • Macerich Announces Appointment of Devin Murphy to Board of Directors

    SANTA MONICA, Calif., Jan. 24, 2025 (GLOBE NEWSWIRE) -- Macerich (NYSE:MAC), one of the nation's leading owners, operators and developers of major retail properties in top markets, today announced the appointment of Devin Murphy to its Board of Directors, effective February 1, 2025. With the addition of Mr. Murphy, Macerich's Board will have nine directors, eight of whom are independent. A seasoned retail REIT executive, Mr. Murphy served for more than a decade at Phillips Edison & Company (PECO), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers. Mr. Murphy served as PECO's President from 2019 until 2024. He was the company's CFO for six

    $MAC
    Real Estate Investment Trusts
    Real Estate
  • Macerich Announces the Return of Diana M. Laing to Board of Directors

    SANTA MONICA, Calif., July 22, 2024 (GLOBE NEWSWIRE) -- Macerich (NYSE: MAC), one of the nation's leading owners, operators and developers of major retail properties in top markets, today announced the appointment of Diana M. Laing to its Board of Directors. Ms. Laing previously served on Macerich's Board from 2003 through 2022. With the addition of Ms. Laing, Macerich's Board will have eight directors, seven of whom are independent. A seasoned corporate finance executive with 35+ years in real estate investment and operating companies, Ms. Laing brings key skills and experience to the Macerich Board – including her tenure as a member of the Board of Directors of Spirit Realty Capital wh

    $MAC
    Real Estate Investment Trusts
    Real Estate
  • Pillar Income Asset Management Announces Appointment of Erik Johnson as President and Chief Executive Officer

    Pillar Income Asset Management ("Pillar") is pleased to announce the appointment of Erik Johnson as President and Chief Executive Officer, effective immediately. In addition, Mr. Johnson was also appointed President and Chief Executive Officer of American Realty Investors, Inc. (NYSE:ARL), Transcontinental Realty Investors, Inc. (NYSE:TCI), and Income Opportunity Realty Investors, Inc. (NYSE:IOR), collectively referred to herein as the "Companies", which are each managed by Pillar. Mr. Johnson has served Pillar as Interim President since April 2023 and as Executive Vice and Chief Financial Officer since June 2020. He has also served as Executive Vice President and Chief Financial Officer

    $ARL
    $IOR
    $MAC
    $TCI
    Other Consumer Services
    Real Estate
    Real Estate Investment Trusts

$MAC
Financials

Live finance-specific insights

See more
  • Macerich Reports Fourth Quarter 2024 Results

    SANTA MONICA, Calif., Feb. 27, 2025 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) has released its Fourth Quarter 2024 Earnings Results and Supplemental Information by posting it to the Investor Relations section of its website at investing.macerich.com. As previously announced, management will hold a conference call at 10:00 a.m. Pacific Time (1:00 p.m. Eastern Time) today, Thursday, February 27, 2025, to discuss quarterly results. Participants who wish to join the conference by telephone must register using the dial-in registration link below to receive the dial-in number and a personalized PIN code that will be required to access the call. Participants may join the live webcast b

    $MAC
    Real Estate Investment Trusts
    Real Estate
  • Macerich Declares the Quarterly Dividend on Its Common Shares

    SANTA MONICA, Calif., Feb. 14, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of the Macerich Company (NYSE:MAC) declared a quarterly cash dividend of $0.17 per share of common stock. The dividend is payable on March 18, 2025, to stockholders of record at the close of business on March 4, 2025. About Macerich Macerich is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor

    $MAC
    Real Estate Investment Trusts
    Real Estate
  • Macerich Schedules Fourth Quarter 2024 Earnings Release and Conference Call

    SANTA MONICA, Calif., Jan. 30, 2025 (GLOBE NEWSWIRE) -- WHAT: Macerich (NYSE:MAC) Schedules Fourth Quarter 2024 Earnings Release and Conference Call WHEN: Earnings Results will be released before market open on Thursday, February 27, 2025. Management will hold a conference call at 10:00 am Pacific Time (1:00 pm Eastern Time) on that same day to discuss quarterly results. WHERE: Participants who wish to join the conference by telephone must register using the dial-in registration link below to receive the dial-in number and a personalized PIN code that will be required to access the call. Participants may join the live webcast by accessing it at the webcast registration link below or in

    $MAC
    Real Estate Investment Trusts
    Real Estate

$MAC
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more