Macerich (MAC) has purchased the remaining 40% stake of both Arrowhead Towne Center in Metro Phoenix and South Plains Mall in Lubbock, TX, for $36.5 million plus the debt from its joint venture partner, which is a global institutional investor. With the move, Macerich has gained full ownership of both the properties. Apart from the acquisition, Macerich disclosed the execution of a contract for the sale of a prominent retail asset in a major market. This transaction, which is likely to close this summer, is ...

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 | Maryland | | 95-4448705 | | | --- | --- | --- | --- | | (State or other jurisdiction of | | (I.R.S. Employer Identification Number) | | | incorporation or organization) | | | | | 401 Wilshire Boulevard, Suite 700, Santa Monica, California | | 90401 | | | (Address of principal executive office) | | (Zip Code) | | | (310) 394-6000 | | | | | (Registrant's telephone number, including area code) | | | | | N/A | | | | | (Former name, former ...

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), ...

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 ...