Core Viewpoint - Analysts project that Macerich (MAC) will report quarterly earnings of $0.31 per share, unchanged year over year, with revenues expected to reach $218.91 million, reflecting a 4.9% increase from the same quarter last year [1]. Earnings Estimates - The consensus EPS estimate has been revised downward by 0.4% in the past 30 days, indicating a reassessment by covering analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock price performance [3]. Key Metrics Forecast - Analysts estimate 'Leasing Revenue- Minimum rents' at $133.74 million, a 5.2% increase year over year [5]. - 'Management Companies revenues' are projected to reach $7.36 million, indicating a decline of 10.6% year over year [5]. - 'Leasing Revenue- Tenant recoveries' is expected to be $59.11 million, reflecting a 1.9% increase from the prior-year quarter [5]. - 'Depreciation and amortization' is forecasted to reach $70.92 million, compared to $68.35 million from the previous year [6]. Stock Performance - Macerich shares have returned +12% over the past month, outperforming the Zacks S&P 500 composite's +10.6% change [7]. - With a Zacks Rank 3 (Hold), MAC is expected to mirror overall market performance in the near future [7].

Company Overview - The Macerich Company (NYSE: MAC) is a Real Estate Investment Trust (REIT) focused on high-quality regional shopping centers in major U.S. markets such as California, New York, and Arizona [1] - The company owns approximately 40 properties, totaling around 43 million square feet of retail space [1] Investment Strategy - Noor Darwish, a former management consultant at The Boston Consulting Group, covers and invests in companies trading at significant discounts to their net asset value or liquidation value [1] - Darwish has successfully rotated his portfolio into crypto-related equities, achieving a 250% gain by investing in GDLC at $6 per share and selling at $21 [1] - He has also transitioned his portfolio into other Grayscale private placements, realizing an 80% gain in 6 months [1] Tax Strategy - Darwish relocated to Puerto Rico to benefit from a 0% capital gains tax rate on equities and cryptocurrencies under the Act 60 program, anticipating capital gains on his GDLC position [1] - The 250% gain and subsequent gains will be untaxed due to this relocation [1] Job Application Service - The company OverApply, run by Darwish, provides a job application service that allows clients to outsource their job search to human virtual assistants [1] - OverApply has applied to over 300,000 jobs on behalf of its clients, resulting in more than 4,000 interviews and over 500 job offers [1]

SANTA MONICA, Calif., April 28, 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 June 17, 2025, to stockholders of record at the close of business on June 3, 2025. About MacerichMacerich 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 ...

SANTA MONICA, Calif., April 22, 2025 (GLOBE NEWSWIRE) -- WHAT: Macerich (NYSE: MAC) Schedules First Quarter 2025 Earnings Release and Conference Call WHEN: Earnings Results will be released before market open on Monday, May 12, 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-i ...

The Macerich Company (MAC) announced that it sealed a multi-year sponsorship and member engagement agreement with PenFed Credit Union, America’s second-largest federal credit union, for its Tysons Corner Center Plaza. This arrangement will aid in elevating the brand appeal and reach of the center’s experiential marketing programs and media network, attracting millions of shoppers and PenFed members annually.Spanning 1.8 million square feet and termed a “Fortress property” by Marerich’s president and CEO, Ty ...

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 program ...

Macerich (MAC) recently announced that a two-level, locally owned entertainment destination, Pindustry, will anchor its mixed-use outdoor development project, HiFi, which is adjacent to premier retail destination FlatIron Crossing in Colorado.HiFi at FlatIron Crossing will feature NOVEL FlatIron by Crescent Communities, a five-story luxury multifamily residential community with 345 units currently under construction at HiFi. Phased openings at HiFi are scheduled to begin in 2027, including the openings of P ...

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 co ...

Shares of The Macerich Company (MAC) lost 8.95% in the Feb. 27 regular trading session on the NYSE after it reported fourth-quarter 2024 funds from operations (FFO) per share of 47 cents, excluding financing expenses in relation to Chandler Freehold, gain on extinguishment of debt, accrued default interest expense and loss on non-real estate investments, despite meeting the Zacks Consensus Estimate. However, the figure declined 17.5% from the year-ago quarter’s reported numbers.See the Zacks Earnings Calend ...

Financial Strategy and Debt Management - The Company announced the Path Forward Plan in Q2 2024, aiming to reduce its Net Debt to Adjusted EBITDA leverage ratio over the next three to four years[47]. - The company aims to deleverage its capital structure over the next three to four years as part of its Path Forward Plan, though success is not guaranteed[134]. - As of December 31, 2024, the company's total outstanding loan indebtedness was $6.65 billion, which includes $4.99 billion of consolidated debt and $1.69 billion of pro rata share of mortgages on unconsolidated joint ventures[133]. - The company's total debt, including both consolidated and unconsolidated, was $5.1 billion as of December 31, 2024[346]. - The company's pro rata share of the Unconsolidated Joint Venture Centers' fixed rate debt was $1.6 billion as of December 31, 2024, with an average interest rate of 5.28%[348]. - The company's total fixed rate debt was $4.7 billion with an average interest rate of 4.40%, compared to $3.8 billion and 4.29% in 2023[347]. - The company's total floating rate debt as of December 31, 2024, was $0.4 billion with an average interest rate of 6.21%, down from $0.5 billion and 7.43% in 2023[347]. - A 1% increase in interest rates is estimated to decrease future earnings and cash flows by approximately $5.4 million per year based on $542.9 million of floating rate debt outstanding[351]. - The company has interest rate cap agreements in place to manage floating rate debt, which limits how high the prevailing floating loan rate can rise[350]. - The company's average interest rate on fixed rate debt decreased from 4.29% in 2023 to 4.40% in 2024, indicating a slight increase in borrowing costs[347]. Property and Portfolio Management - As of December 31, 2024, the Centers included 40 Regional Retail Centers totaling approximately 43 million square feet of GLA, with an average size of about 990,000 square feet[57]. - The Company acquired interests in several shopping centers, including Arrowhead Towne Center and South Plains Mall, as part of its strategy to enhance its portfolio[50]. - The Company focuses on acquiring well-located, quality Regional Retail Centers with strong revenue enhancement potential, and seeks to improve operating performance through leasing and redevelopment[49]. - The Company has developed a fully integrated real estate organization to optimize operations, tenant mix, and respond to competitive conditions in the market[51]. - The Company emphasizes a decentralized property management strategy, with on-site property managers responsible for operations and tenant relationships[52]. - The Company actively seeks replacement tenants for vacant sites and is considering redevelopment opportunities for these locations[1]. - The shopping center industry is seasonal, with earnings generally higher in the fourth quarter due to increased retail sales during the holiday season[88]. Tenant and Rental Information - For the year ended December 31, 2024, 73% of total rents were derived from Mall Stores and Freestanding Stores under 10,000 square feet, while 27% came from Big Box and Anchor tenants[60]. - Tenant occupancy costs for Mall Store and Freestanding Store tenants in consolidated centers were 11.8% of total sales for the year ended December 31, 2024, compared to 12.1% in 2023[64]. - Major tenants contributed significantly to total rents, with the top 10 tenants accounting for a combined 12.1% of total rents as of December 31, 2024[60]. - The average base rent per square foot for consolidated centers increased to $65.62 in 2024 from $61.66 in 2023, representing an increase of 4.9%[65]. - The average base rent per square foot for unconsolidated joint venture centers rose to $76.11 in 2024 from $70.42 in 2023, reflecting an increase of 9.6%[66]. - The average base rent per square foot on leases executed during 2024 for big boxes and anchors was $14.85, down from $16.65 in 2023, indicating a decrease of 9.6%[66]. - The average base rent per square foot on leases expiring during 2024 for big boxes and anchors was $21.14, a decrease from $29.67 in 2023, representing a decline of 28.8%[66]. - The company has a total of 145 anchor stores, with a combined GLA of 19,946,000 square feet, including 9,093,000 square feet owned and 10,853,000 square feet leased[75]. - Scheduled lease expirations for consolidated centers in 2025 include 522 leases, representing 24.99% of total leased GLA, with an ending base rent of $66.31 per square foot[69]. - For big boxes and anchors, 27 leases are set to expire in 2025, accounting for 15.42% of total leased GLA, with an ending base rent of $11.35 per square foot[70]. - Anchors contributed approximately 7.2% to the company's total rents for the year ended December 31, 2024[73]. - The company’s average base rent per square foot on leases executed during the year for mall stores and freestanding stores was $61.16 in 2024, up from $58.97 in 2023, an increase of 2.0%[65]. Employee and Diversity Initiatives - As of December 31, 2024, the Company had approximately 616 employees, with a turnover rate of 13.7%[81]. - The average tenure of the Company's employees was approximately 10.6 years, indicating a stable workforce[82]. - Approximately 58% of the Company's employees identified as female, and about 30% belong to an underrepresented group, reflecting its commitment to diversity[86]. - The Company has implemented operational protocols to ensure the health and safety of employees and customers at its Centers[87]. Regulatory and Compliance Risks - The company incurs costs to comply with various governmental regulations, impacting capital expenditures and competitive position[76]. - Compliance with the Americans with Disabilities Act and other regulations may require substantial expenditures, impacting cash flows and operational flexibility[119]. - The company faces significant risks from cyber threats, including increased costs for protection and recovery from incidents, despite carrying cyber liability insurance[120]. - The company must maintain an ownership limit of no more than 50% in value of its outstanding stock to qualify as a REIT[148]. - The company believes it currently qualifies as a REIT, but there are risks that could jeopardize this status, affecting distributions to stockholders[155]. - If the company fails to qualify as a REIT, it could face significant tax liabilities and reduced funds for distributions[157]. - Legislative changes to U.S. federal income tax laws could adversely affect the taxation of the company and its stockholders[165]. - The company may be subject to a 100% tax on income from prohibited transactions, impacting asset sales[161]. - The company must distribute 90% of its annual taxable income to stockholders, which may require borrowing or selling assets if cash flow is insufficient[162]. Environmental and Natural Disaster Risks - The Company carries specific earthquake insurance with a combined annual aggregate loss limit of $100 million for its Centers located in California and the Pacific Northwest[79]. - Environmental liabilities may arise from hazardous materials at properties, leading to significant costs for investigation and remediation[111]. - The company faces risks from climate change, which could impact property demand and increase operational costs related to compliance and repairs[114]. - Properties are subject to potential natural disasters, which could delay projects and increase insurance costs, negatively affecting financial performance[115]. Market and Economic Risks - Elevated interest rates may negatively impact consumer spending and tenant businesses, with increased borrowing costs affecting cash flow and debt service[128][129]. - International trade disputes and tariffs could increase costs for tenants, potentially impacting their ability to meet obligations and affecting the company's revenue[132]. - Future pandemics or outbreaks of infectious diseases could disrupt operations, leading to decreased consumer spending and potential tenant bankruptcies[124][125]. - Acts of violence, vandalism, and civil unrest could adversely affect property values and revenue generation from tenants[122][123]. - Inflationary pressures may increase operating costs, impacting cash flows and profits despite tenants covering some expenses[127]. - The company faces risks related to occupancy levels, customer traffic, and rental income, which may be adversely affected by store closures from significant tenants[104]. - Historical revenue growth has been tied to the acquisition and redevelopment of shopping centers, with future success dependent on factors like capital availability and competition from other REITs[105]. - The company may not achieve anticipated financial results from newly acquired assets due to risks associated with real estate development, including financing and construction delays[106]. - Excess space at properties may lead to downward pressure on rental rates and occupancy levels, with ongoing bankruptcies among tenants impacting overall performance[108]. - The company sold certain properties as part of the Path Forward Plan in 2024, but real estate investments remain relatively illiquid, limiting portfolio adjustments[109]. - Impairment charges on real estate assets could adversely affect operating results, with past charges indicating potential future risks[110].