SANTA MONICA, Calif., May 16, 2024 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Macerich (NYSE: MAC), please note in the third paragraph, the amount the transaction is expected to generate has been corrected to $110 million of net proceeds. The corrected release follows: Macerich (NYSE: MAC), one of the nation's leading owners, operators and developers of major retail properties in top markets, today announced its purchase of the remaining 40% share of both Arrowhead Town ...

Located in a high-growth area of Metro Phoenix, the 1.1 million-square-foot, super-regional Arrowhead Towne Center is a market-dominant, top 10 NOI center for MAC and a top 10 sales PSF center at well over $1,100 PSF – second only to Scottsdale Fashion Square among Macerich's Phoenix market assets. Currently 100% leased, Arrowhead Towne Center is anchored by Dillard's, Macy's, JCPenney, DICK's Sporting Goods, AMC Theatres and a brand-new Round1 Spo-Cha. The buoyant trade area consists of 1.6 million people ...

SANTA MONICA, Calif., May 16, 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 its purchase of the remaining 40% share of both Arrowhead Towne Center (Metro Phoenix) and South Plains Mall (Lubbock, Texas) for $36.5 million plus the debt, which for Arrowhead is a 7.2% cap rate, from its joint venture partner, a global institutional investor. This transaction, which closed on May 14, gives Mac ...

SANTA MONICA, Calif., May 16, 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 its purchase of the remaining 40% share of both Arrowhead Towne Center (Metro Phoenix) and South Plains Mall (Lubbock, Texas) for $36.5 million plus the debt, which for Arrowhead is a 7.2% cap rate, from its joint venture partner, a global institutional investor. This transaction, which closed on May 14, gives Mac ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File No.: 1-12504 THE MACERICH COMPANY (Exact name of registrant as specified in its charter) Maryland 95-4448705 (State or other juri ...

Walter Bibikow On April 30, 2024, the Macerich Company (NYSE:NYSE:MAC) reported its Q1, 2024 results, which presented a nightmare scenario for the existing shareholders, causing the Stock price to drop by double digits. There is definitely a component of worsened performance, which has triggered a notable repricing by the market, but there is also a sentiment from the past involved, where historically MAC has every now and then dropped a bombshell in the form of share dilution, that in the context of th ...

Shares of The Macerich Company (MAC) have lost 14.05% in the Apr 30 regular trading session on the NYSE after it reported funds from operations (FFO) per share, excluding financing expense in relation to Chandler Freehold, of 31 cents, missing the Zacks Consensus Estimate of 39 cents. Moreover, the figure declined 22.5% from the year-ago quarter’s 40 cents.The results reflected a year-over-year fall in quarterly revenues. This retail REIT also experienced a decline in same-center net operating income (NOI), ...

Company Participants Jeffrey Spector - Bank of America Securities Greg McGinniss - Scotiabank Samir Khanal - Evercore ISI Floris van Dijkum - Compass Point Linda Tsai - Jefferies Alexander Goldfarb - Piper Sandler Michael Mueller - JPMorgan Please be advised that today's conference is being recorded. I would like now to turn the conference over to your speaker today, Samantha Greening, Director of Investor Relations. Please go ahead. Thank you for joining us on our first quarter 2024 earnings call. During t ...

Macerich (MAC) reported $208.78 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.8%. EPS of $0.31 for the same period compares to -$0.27 a year ago.The reported revenue represents a surprise of -3.93% over the Zacks Consensus Estimate of $217.32 million. With the consensus EPS estimate being $0.39, the EPS surprise was -20.51%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Macerich (MAC) came out with quarterly funds from operations (FFO) of $0.31 per share, missing the Zacks Consensus Estimate of $0.39 per share. This compares to FFO of $0.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of -20.51%. A quarter ago, it was expected that this shopping center real estate investment trust would post FFO of $0.55 per share when it actually produced FFO of $0.56, delivering a surprise of 1.82%.Over the last ...