Macerich Unveils Path-Forward Plan; To Invest In And Fortify Key Assets In Portfolio

5/23/24 7:21:21 AM ET

$MAC

Real Estate Investment Trusts

Real Estate

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Macerich's plan is designed to:

Deleverage the capital structure to a low-to-mid 6x range over the next three to four years.
Invest in and fortify key assets in the portfolio.
Proactively consolidate selected joint venture assets that are core to the overall strategy.
Deliver clean FFO/share launch point of ~$1.80/share over the next three to four years.
Improve various internal processes that are being evaluated and realigned to achieve outstanding operational results.
Position the company to take an offensive stance on acquisitions, reinvestment, and selected development.

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Recent Analyst Ratings for
$MAC

Date	Price Target	Rating	Analyst
5/17/2024	$16.00 → $14.00	Sector Perform → Sector Underperform	Scotiabank
5/1/2024	$17.00 → $11.00	Neutral → Underweight	Piper Sandler
3/22/2024	$8.00 → $17.00	Sell → Neutral	Citigroup
10/2/2023	$11.00 → $12.00	Underweight → Neutral	Piper Sandler
3/21/2023	$8.50	Sell	Goldman
12/16/2022	$8.50	Underweight	Morgan Stanley
4/18/2022	$18.00 → $14.00	Neutral → Underweight	Piper Sandler
3/7/2022	$14.75 → $14.00	Underweight	Morgan Stanley

More analyst ratings

$MAC
Financials

Live finance-specific insights

Macerich Declares the Quarterly Dividend on Its Common Shares
SANTA MONICA, Calif., Oct. 31, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of the Macerich Company (NYSE:MAC) declared a quarterly cash dividend of $.17 per share of common stock. The dividend is payable on December 2, 2024, to stockholders of record at the close of business on November 12, 2024. 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. D
10/31/24 7:00:00 AM ET
$MAC
Real Estate Investment Trusts
Real Estate
Macerich Schedules Third Quarter 2024 Earnings Release and Conference Call
SANTA MONICA, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- WHAT: Macerich (NYSE:MAC) Schedules Third Quarter 2024 Earnings Release and Conference Call WHEN: Earnings Results will be released before market open on Wednesday, November 6, 2024. 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 at 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 the
10/2/24 7:00:00 AM ET
$MAC
Real Estate Investment Trusts
Real Estate
Macerich Reports Second Quarter 2024 Results
SANTA MONICA, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) has released its Second Quarter 2024 Earnings Results and Supplemental Information by posting it to the Investor Relations section of its website at www.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, Wednesday, July 31, 2024, to discuss quarterly results. Participants who wish to join the conference by telephone must register at 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
7/31/24 7:00:00 AM ET
$MAC
Real Estate Investment Trusts
Real Estate

$MAC
Leadership Updates

Live Leadership Updates

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
7/22/24 9:00:00 AM ET
$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
5/29/24 10:42:00 AM ET
$ARL
$IOR
$MAC
$TCI
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Real Estate
Real Estate Investment Trusts
The Macerich Company Announces Grant of Employment Inducement Award in Connection with Appointment of Jackson Hsieh as President and Chief Executive Officer
SANTA MONICA, Calif., March 01, 2024 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) (the "Company") announced that it granted two inducement equity awards to Jackson Hsieh on March 1, 2024, the effective date of Mr. Hsieh's appointment as President and Chief Executive Officer of the Company, pursuant to the employment agreement entered into between the Company and Mr. Hsieh effective March 1, 2024. The awards were granted in accordance with New York Stock Exchange Listed Company Manual Rule 303A.08 as an inducement to Mr. Hsieh's employment with the Company. The inducement awards include a sign-on equity grant in the amount of 304,692 Company Long-Term Incentive ("LTIP") units (the
3/1/24 7:00:00 AM ET
$MAC
Real Estate Investment Trusts
Real Estate

GRESB Real Estate Assessment Ranks Macerich #1, U.S. Retail, for 10th Consecutive Year
SANTA MONICA, Calif., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Macerich (NYSE:MAC), one of the nation's leading owners, operators and developers of major retail properties in top markets, has earned the #1 ranking among all U.S. retail in the GRESB Real Estate Assessment for the 10th consecutive year. Macerich ranked #3 in Retail, Americas, and earned the prestigious GRESB Green Star rating based on absolute performance. "GRESB and our peers raise the bar every year. We appreciate this comprehensive assessment of our progress, and we are honored to receive this recognition of the results our initiatives have delivered," said Olivia Bartel Leigh, Executive Vice President, Portfolio Operations an
11/1/24 7:00:00 AM ET
$MAC
Real Estate Investment Trusts
Real Estate
Macerich Declares the Quarterly Dividend on Its Common Shares
SANTA MONICA, Calif., Oct. 31, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of the Macerich Company (NYSE:MAC) declared a quarterly cash dividend of $.17 per share of common stock. The dividend is payable on December 2, 2024, to stockholders of record at the close of business on November 12, 2024. 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. D
10/31/24 7:00:00 AM ET
$MAC
Real Estate Investment Trusts
Real Estate
Macerich Refinances Top-Performing Queens Center at Favorable Terms
5.37% Fixed Rate for 5 Years, Interest Only, on $525M Loan Lowest Refi Rate Achieved by Company in Past 5 Years SANTA MONICA, Calif., Oct. 29, 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 that it has refinanced fortress property Queens Center at highly favorable terms with a new $525 million loan bearing fixed interest of 5.37% and interest-only payments during the entire term. "We are pleased to share details on our just-completed refinance of Queens Center, consistently one of the best-performing properties in our entire portfolio," said Jack Hsieh, President and
10/29/24 7:00:00 AM ET
$MAC
Real Estate Investment Trusts
Real Estate

Macerich Unveils Path-Forward Plan; To Invest In And Fortify Key Assets In Portfolio

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Recent Analyst Ratings for $MAC

$MAC Financials

Live finance-specific insights

Macerich Declares the Quarterly Dividend on Its Common Shares

Macerich Schedules Third Quarter 2024 Earnings Release and Conference Call

Macerich Reports Second Quarter 2024 Results

$MAC Insider Purchases

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

Volk Kenneth bought $77,025 worth of shares (5,000 units at $15.40) (SEC Form 4)

Kingsmore Scott W bought $96,360 worth of shares (6,000 units at $16.06) (SEC Form 4)

Menard Ann C bought $74,945 worth of shares (4,865 units at $15.40) (SEC Form 4)

$MAC Market Insights

Live Market Insights

Goldman Sachs Maintains Sell on Macerich, Lowers Price Target to $12.5

Shares of REIT stocks are trading higher amid a drop in Treasury yields following soft May CPI figures.

Macerich Unveils Path-Forward Plan; To Invest In And Fortify Key Assets In Portfolio

$MAC Leadership Updates

Live Leadership Updates

Macerich Announces the Return of Diana M. Laing to Board of Directors

Pillar Income Asset Management Announces Appointment of Erik Johnson as President and Chief Executive Officer

The Macerich Company Announces Grant of Employment Inducement Award in Connection with Appointment of Jackson Hsieh as President and Chief Executive Officer

$MAC Large Ownership Changes

This live feed shows all institutional transactions in real time.

SEC Form SC 13G/A filed by Macerich Company (Amendment)

SEC Form SC 13G/A filed by Macerich Company (Amendment)

SEC Form SC 13G/A filed by Macerich Company (Amendment)

$MAC Insider Trading

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

Senior EVP, Head of Leasing Healey Doug J gifted 60 shares (SEC Form 4)

Director Laing Diana was granted 7,251 shares, increasing direct ownership by 5% to 147,385 units (SEC Form 4)

New insider Laing Diana claimed ownership of 140,134 shares (SEC Form 3)

$MAC Analyst Ratings

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$MAC Press Releases

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$MAC SEC Filings

Macerich downgraded by Scotiabank with a new price target

Macerich downgraded by Piper Sandler with a new price target

Macerich upgraded by Citigroup with a new price target

GRESB Real Estate Assessment Ranks Macerich #1, U.S. Retail, for 10th Consecutive Year

Macerich Declares the Quarterly Dividend on Its Common Shares

Macerich Refinances Top-Performing Queens Center at Favorable Terms

SEC Form 10-Q filed by Macerich Company

Macerich Company filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits

SEC Form 8-K filed by Macerich Company

Recent Analyst Ratings for
$MAC

$MAC
Financials

$MAC
Insider Purchases

$MAC
Market Insights

$MAC
Leadership Updates

$MAC
Large Ownership Changes

$MAC
Insider Trading

$MAC
Analyst Ratings

$MAC
Press Releases

$MAC
SEC Filings