Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in the West Coast, Arizona, Chicago and the Metro New York to Washington, DC corridor. A recognized leader in sustainability, Macerich has achieved the #1 GRESB ranking in the North American Retail Sector for five straight years (2015 Â 2019).
IPO Year: 1994
Exchange: NYSE
Website: macerich.com
| 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 |
| 11/23/2021 | $17.00 → $20.00 | Sell | Citigroup |
| 11/4/2021 | $13.00 → $23.00 | Underweight → Neutral | Piper Sandler |
SANTA MONICA, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) has released its Third 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, November 6, 2024, 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 by acces
SANTA MONICA, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) (the "Company" or "Macerich") today announced that Daniel E. Swanstrom II will become the Chief Financial Officer of Macerich effective on November 16, 2024. "I am very pleased to welcome Dan to Macerich," said Jack Hsieh, Macerich's CEO. "Dan brings an excellent background to Macerich with over 20 years of experience in real estate, both as a CFO of two public REITs and as a former investment banker with Morgan Stanley. He has extensive experience in managing complex balance sheets, interfacing with external stakeholders and making capital allocation decisions that drive shareholder value. He will be
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
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
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
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
SANTA MONICA, Calif., Sept. 04, 2024 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) today announced that Jack Hsieh, President and Chief Executive Officer, Scott Kingsmore, Senior Executive Vice President and Chief Financial Officer, and Doug Healey, Senior Executive Vice President Leasing will present to/speak with investors at BofA Securities 2024 Global Real Estate Conference in New York, NY September 10-11, 2024. Macerich will present at 1:30 p.m. Eastern on Tuesday, September 10, 2024. The live audio-only webcast will be available online in the Investor Section of the Company's website at www.macerich.com. An online replay will be available following the presentation at the
SANTA MONICA, Calif., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Macerich (NYSE:MAC), one of the nation's leading owners, operators and developers of major retail properties in top markets, today released its 2023 Corporate Responsibility Report, with data for the period ending December 31, 2023. This year's "Together for Tomorrow" theme emphasizes the company's environmental sustainability, social and governance efforts in service of its mission of owning and operating thriving retail centers that bring communities together and create long-term value for shareholders, partners and customers. "Our ‘Together for Tomorrow' approach to corporate responsibility, highlighted in this year's report,
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
SANTA MONICA, Calif., July 26, 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 September 9, 2024, to stockholders of record at the close of business on August 19, 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. De
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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
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
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
SANTA MONICA, Calif., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Macerich (NYSE:MAC), one of the nation's leading owners, operators and developers of high-quality retail and mixed-use properties in top markets, today announced that much-admired healthy lifestyle brand Life Time (NYSE:LTH) is coming to Twenty Ninth Street in central Boulder, Colorado early next year. Following a significant renovation, the 40,000-square-foot space will be entirely transformed as Life Time Boulder, replacing the former Colorado Athletic Club. The move brings Life Time's luxury health and wellness programs, services and professionals to active Boulderites and visitors, while leveling up the wellness, fitness and li
Young will lead the pacesetting PropTech's marketing function SmartRent, Inc. (NYSE:SMRT) (the "Company" or "SmartRent"), a leading provider of smart home and smart building automation for property owners, managers, developers, homebuilders and residents, today announced the appointment of Robyn Young as the company's first chief marketing officer (CMO). In this new role, Young will be responsible for the Company's overall marketing strategy. Joining the team on May 9, 2022, she will be based at the Company's headquarters in Scottsdale, Ariz. "Robyn is a highly experienced, strong marketing leader who brings an impressive track record in commercial and mixed-use real estate and finance ex
SAN CLEMENTE, Calif., Dec. 10, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of CareTrust REIT, Inc. (NASDAQ:CTRE) today announced the appointment of David Sedgwick as Chief Executive Officer, to be effective as of January 1, 2022. Mr. Sedgwick will succeed founding Chairman and CEO Greg Stapley, who will continue to serve as CareTrust's Executive Chairman during an approximately six-month transition period, following which he and his wife Deborah will commence a three-year, full-time volunteer assignment for The Church of Jesus Christ of Latter-day Saints. The Board also announced that Diana M. Laing has been appointed as Lead Independent Director. Mr. Sedgwick, who has been with CareT
SANTA MONICA, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) has released its Third 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, November 6, 2024, 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 by acces
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
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
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
SANTA MONICA, Calif., July 26, 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 September 9, 2024, to stockholders of record at the close of business on August 19, 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. De
SANTA MONICA, Calif., June 26, 2024 (GLOBE NEWSWIRE) -- WHAT: Macerich (NYSE:MAC) Schedules Second Quarter 2024 Earnings Release and Conference Call WHEN: Earnings Results will be released before market open on Wednesday, July 31, 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
SANTA MONICA, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) has released its First 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, Tuesday, April 30, 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 i
SANTA MONICA, Calif., April 26, 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 June 3, 2024, to stockholders of record at the close of business on May 20, 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. Devel
SANTA MONICA, Calif., April 08, 2024 (GLOBE NEWSWIRE) -- WHAT: Macerich (NYSE:MAC) Schedules First Quarter 2024 Earnings Release and Conference Call WHEN: Earnings Results will be released before market open on Tuesday, April 30, 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 In
SANTA MONICA, Calif., Feb. 07, 2024 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE:MAC) has released its Fourth Quarter 2023 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, February 7, 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 accessi
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Goldman Sachs analyst Caitlin Burrows maintains Macerich (NYSE:MAC) with a Sell and lowers the price target from $14 to $12.5.
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.
Scotiabank analyst Greg McGinniss downgrades Macerich (NYSE:MAC) from Sector Perform to Sector Underperform and lowers the price target from $16 to $14.
This transaction, which closed on May 14, gives Macerich full ownership of both properties. Additionally, Macerich has executed a contract for the sale of an open-air asset in a major market. The transaction is expected to generate approximately $110,000 million of net proceeds based on an expected cap rate of 6.5% and is anticipated to close this summer.
Although U.S. stocks closed higher on Thursday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform. Macerich Company The Trade: The Macerich Company (NYSE:MAC) CFO Scott W Kingsmore acquired a total of 6,000 shares an aver
Although U.S. stocks closed higher on Monday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform. Herbalife The Trade: Herbalife Ltd. (NYSE:HLF) Director Donal L Mulligan acquired a total of 45,657 shares at an average pri
- SEC Filing
The Macerich Company (NYSE:MAC) shares traded lower on Wednesday after Piper Sandler analyst Alexander Goldfarb downgraded the stock from Neutral to Under Weight and lowered the price target from $17 to $11. On Tuesday, the company reported Q1 sales of $208.783 million, beating the consensus of $205.112 million and FFO of $0.33. The company welcomed Jackson Hsieh as the new CEO and president and withdrew its FY24 guidance. The analyst writes that they think Hsieh is asking shareholders for another 3–4 years to restructure the company after enduring the same game plan that was executed twice before over the past decade is “a bridge too far.” Goldfarb argues that management is opti
Scotiabank downgraded Macerich from Sector Perform to Sector Underperform and set a new price target of $14.00 from $16.00 previously
Piper Sandler downgraded Macerich from Neutral to Underweight and set a new price target of $11.00 from $17.00 previously
Citigroup upgraded Macerich from Sell to Neutral and set a new price target of $17.00 from $8.00 previously
Piper Sandler upgraded Macerich from Underweight to Neutral and set a new price target of $12.00 from $11.00 previously
Goldman resumed coverage of Macerich with a rating of Sell and set a new price target of $8.50
Morgan Stanley resumed coverage of Macerich with a rating of Underweight and set a new price target of $8.50
Piper Sandler downgraded Macerich from Neutral to Underweight and set a new price target of $14.00 from $18.00 previously
Morgan Stanley reiterated coverage of Macerich with a rating of Underweight and set a new price target of $14.00 from $14.75 previously
Citigroup reiterated coverage of Macerich with a rating of Sell and set a new price target of $20.00 from $17.00 previously
Piper Sandler upgraded Macerich from Underweight to Neutral and set a new price target of $23.00 from $13.00 previously