Core Viewpoint - The Macerich Company has released its Fourth Quarter 2024 Earnings Results and will discuss these results in a conference call on February 27, 2025 [1][2]. Company Overview - Macerich is a fully integrated, self-managed, self-administered real estate investment trust (REIT) focused on high-quality retail real estate in densely populated U.S. markets [4]. - The company's portfolio includes 43 million square feet of real estate, primarily consisting of interests in 40 retail centers [4]. - Macerich has achieved a 1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for ten consecutive years from 2015 to 2024 [4]. Investor Relations - The company utilizes its Investor Relations website for disclosing material nonpublic information and complying with disclosure obligations under Regulation FD [5]. - Additional information can be accessed through social media platforms such as LinkedIn [5].

Financial Performance - The net loss attributable to the Company for Q4 2024 was $211.2 million, or $0.89 per diluted share, compared to a net income of $62.2 million, or $0.29 per diluted share, for Q4 2023[11]. - Funds from Operations (FFO) for Q4 2024 were $116.7 million, or $0.47 per diluted share, down from $127.7 million, or $0.57 per diluted share, in Q4 2023[11]. - For the three months ended December 31, 2024, total revenues increased to $273,676,000 from $238,688,000 in the same period of 2023, representing a growth of 14.6%[29]. - The company reported a net loss attributable to the Company of $(211,210,000) for the three months ended December 31, 2024, compared to a net income of $62,179,000 in the same period of 2023[29]. - Funds From Operations (FFO) for the three months ended December 31, 2024, was $126,214,000, down from $158,391,000 in the same period of 2023, a decrease of 20.3%[29]. - Interest expense increased significantly to $70,933,000 for the three months ended December 31, 2024, compared to $25,413,000 in the same period of 2023, marking an increase of 179.5%[29]. - The company experienced a loss on the sale or write down of assets of $(233,347,000) for the three months ended December 31, 2024, compared to a gain of $706,000 in the same period of 2023[29]. - The Adjusted EBITDA for the twelve months ended December 31, 2024, was $707,207 thousand, a decrease from $722,041 thousand in 2023[43]. - The total market capitalization increased to $11,903,254 thousand as of December 31, 2024, up from $10,409,768 thousand in 2023[46]. - The equity market capitalization rose to $5,255,678 thousand in 2024, compared to $3,490,189 thousand in 2023, reflecting a growth of 50.7%[46]. Occupancy and Leasing - Portfolio occupancy as of December 31, 2024, was 94.1%, a 0.6% increase from 93.5% at the end of 2023[17]. - The Company signed leases for 3.7 million square feet in 2024, a 3.9% decrease compared to 2023, with Q4 2024 seeing a 15.3% increase in leased square footage compared to Q4 2023[17]. - Same center net operating income (NOI) decreased by 0.4% in Q4 2024 compared to Q4 2023, but increased by 0.2% for the full year[11]. - Leasing revenue for the twelve months ended December 31, 2024, was $850,453,000, up from $809,023,000 in 2023, reflecting a year-over-year increase of 5.1%[29]. - The average base rent per square foot for consolidated centers increased to $65.62 in 2024 from $61.66 in 2023, reflecting an increase of 4.8%[79]. - The average sales per square foot for consolidated centers rose to $743 in 2024, up from $712 in 2023, marking a 4.4% increase[74]. Capital and Debt Management - The Company had approximately $683 million in liquidity, including $540 million available on its revolving line of credit[14]. - The Company completed an underwritten public offering of 23 million shares at $19.75 per share, generating approximately $454 million in gross proceeds[7]. - Total portfolio debt, including joint ventures at pro rata, decreased to $6,647,576 thousand in 2024 from $6,919,579 thousand in 2023[46]. - The debt as a percentage of total market capitalization improved to 55.9% in 2024, down from 66.5% in 2023[46]. - The weighted average interest rate on the company's debt is 5.53%[108]. - The effective interest rate for total debt is 5.48%, with fixed rate debt averaging 5.38% and floating rate debt averaging 6.66%[111]. - The company has a total of $1,687,797,000 in unconsolidated assets, with fixed rate debt at $1,555,190,000 and floating rate debt at $132,607,000[111]. Dividends and Shareholder Returns - A quarterly cash dividend of $0.17 per share was announced, payable on March 18, 2025[15]. - The company paid a dividend of $0.17 per share for both the three months ended December 31, 2024, and 2023, maintaining the same dividend level[29]. - The company's stock price reached a high of $22.27 and a low of $17.29 in the fourth quarter of 2024, with dividends declared and paid consistently at $0.17 per share[119]. Asset Management and Acquisitions - The acquisition of a 40% interest in the Pacific Premier Retail Trust portfolio was completed for a net price of $122 million, with an implied cap rate of 7.4%[17]. - The Company sold The Oaks for $157 million and Southridge for $4 million, using proceeds to repay loans totaling $148 million[8]. - The company acquired a 100% interest in several regional retail centers, including Lakewood Center and Los Cerritos Center, for a total cash payment of $129.0 million[71]. - The company has a total of 2,322,000 square feet in other assets under redevelopment[98]. - The Paradise Valley Mall redevelopment project is ongoing, with a 5% joint venture interest retained by the company[99]. Future Projects and Developments - The company is developing and redeveloping projects with total costs estimated between $444 million and $490 million, with expected yields ranging from 7.5% to 18%[116]. - The expected opening for the FlatIron Crossing project is between 2027 and 2029, with a pro rata total cost of $120 million to $130 million[116]. - The Green Acres Mall redevelopment is expected to stabilize in 2026, with a total cost of $120 million to $140 million and a yield of 13% to 14%[116]. - The Scottsdale Fashion Square redevelopment is projected to yield between 16% and 18%, with an expected opening in 2024 to 2025[116].

Company Overview - Macerich is a fully integrated, self-managed, self-administered real estate investment trust (REIT) focused on high-quality retail real estate in densely populated U.S. markets [3] - The company's portfolio includes 43 million square feet of real estate, primarily consisting of interests in 40 retail centers [3] - Macerich has achieved a 1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for ten consecutive years from 2015 to 2024 [3] Upcoming Events - Jack Hsieh, President and CEO, and Dan Swanstrom, Senior Executive Vice President and CFO, will participate in a round table presentation at Citi's 2025 Global Property CEO Conference on March 4, 2025, at 1:30 pm Eastern Time [1] - A live audio webcast of the presentation will be available on the company's Investor Relations website, with a replay accessible afterward [2]

Core Points - Macerich is scheduled to release its Fourth Quarter 2024 earnings results before the market opens on February 27, 2025, followed by a conference call at 10:00 am Pacific Time [1] - The conference call will require participants to register for a dial-in number and personalized PIN code, with options to join via telephone or live webcast [2][3] - Macerich is a self-managed and self-administered real estate investment trust (REIT) focused on high-quality retail real estate in key U.S. markets, owning 43 million square feet of real estate primarily in 40 retail centers [4] - The company has achieved a 1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for ten consecutive years from 2015 to 2024, highlighting its commitment to sustainability [4] Company Overview - Macerich operates in densely populated and attractive U.S. markets, including California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor [4] - The company emphasizes advancing environmental goals, social good, and sound corporate governance as part of its operational strategy [4] - Macerich utilizes its Investor Relations website for disclosing material nonpublic information and complies with Regulation FD [5]

Core Points - Macerich has appointed Devin Murphy to its Board of Directors, effective February 1, 2025, bringing nearly three decades of investment banking experience [1][3] - With Murphy's addition, Macerich's Board will consist of nine directors, eight of whom are independent [2] - Murphy previously served as President of Phillips Edison & Company and has extensive experience in the retail REIT sector [3] - He held senior leadership roles at Morgan Stanley and Deutsche Bank, where he was the Global Head of Real Estate Investment Banking, executing over 500 transactions totaling over $400 billion [4] - Macerich's Path Forward plan aims to enhance performance and add long-term value for stakeholders, focusing on simplifying business operations, improving performance, and reducing leverage [5] - Murphy expressed his commitment to supporting Macerich's strategy, which emphasizes a stronger balance sheet and concentration on prime properties [6] - Macerich is a leading self-managed REIT with a portfolio of 43 million square feet, primarily in high-demand U.S. markets [8]

Group 1 - The Macerich Company announced the tax treatment for dividend distributions taxable in 2024, with a total dividend of $0.68 per share for the year ended December 31, 2024 [1] - The dividend payments are classified into various categories, including ordinary dividends, qualified dividends, capital gain distributions, and nondividend distributions [1] - The company paid dividends on four separate dates in 2024, each at a rate of $0.17 per share, with specific amounts allocated to each tax category [1] Group 2 - Macerich is a fully integrated, self-managed, self-administered real estate investment trust (REIT) focused on high-quality retail real estate in densely populated U.S. markets [2] - The company's portfolio includes 43 million square feet of real estate, primarily consisting of interests in 40 retail centers, concentrated in regions such as California and the Metro New York to Washington, D.C. corridor [2] - Macerich has achieved a 1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for ten consecutive years from 2015 to 2024, highlighting its commitment to sustainability [2]

Shares of Macerich (MAC) have rallied 20.7% over the past six months, outperforming the industry's 3.1% growth.Macerich enjoys a portfolio of premium shopping centers in the United States. With a decent leasing pipeline, MAC is likely to continue witnessing healthy leasing activity at its properties in the quarters ahead, driving occupancy.Its focus on omnichannel retailing is likely to support its long-term growth. The balance sheet strengthening efforts will lower its leverage. However, tenant bankruptcy ...

Macerich (NYSE: MAC ) is up a remarkable 38% over the past year, bucking the late 2024 REIT selloff as management continues to execute its Path Forward Strategy. MAC is targeting a $2 billion reduction in long-term debt and is roughly 60% of the way thereThe equity market is a powerful mechanism as daily fluctuations in price get aggregated to incredible wealth creation or destruction over the long term. Pacifica Yield aims to pursue long-term wealth creation with a focus on undervalued yet high-growth comp ...

Shares of Macerich (MAC) have rallied 29.6% over the past three months, outperforming the industry's upside of 1.6%.Macerich enjoys a portfolio of premium shopping centers in the United States. The company is witnessing healthy demand for its assets as evidenced by its strong leasing activity. Its focus on omnichannel retailing is likely to support its long-term growth. The balance sheet strengthening efforts will likely lower its leverage.In October 2024, the company acquired its partner’s 40% interest in ...

In this articleMACSay hello to life at the mall. The classic American mall is undergoing a dramatic transformation as real estate developers swap out dying department stores for apartments, ushering in an era where living at the mall could soon become a new norm.Some U.S. developers are knocking down department stores like Macy's or JCPenney and using the spaces and their parking lots to put up apartment buildings next to the mall or connected to it via walkways and green spaces. In other cases, they've bui ...