Declared Dividend • Aug 10
Second quarter dividend of US$0.17 announced Shareholders will receive a dividend of US$0.17. Ex-date: 14th September 2026 Payment date: 28th September 2026 Dividend yield will be 3.1%, which is lower than the industry average of 5.6%. Aankondiging • Aug 05
The Macerich Company Declares Quarterly Cash Dividend on Its Common Shares, Payable on September 28, 2026 The Board of Directors of The Macerich Company declared a quarterly cash dividend of $0.17 per share of common stock. The dividend is payable on September 28, 2026, to stockholders of record at the close of business on September 14, 2026. Reported Earnings • Aug 05
Second quarter 2026 earnings released: US$0.099 loss per share (vs US$0.16 loss in 2Q 2025) Second quarter 2026 results: US$0.099 loss per share (improved from US$0.16 loss in 2Q 2025). Revenue: US$249.7m (flat on 2Q 2025). Net loss: US$27.1m (loss narrowed 34% from 2Q 2025). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 1.6% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jul 15
The Macerich Company to Report Q2, 2026 Results on Aug 04, 2026 The Macerich Company announced that they will report Q2, 2026 results After-Market on Aug 04, 2026 New Risk • Jun 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.7x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (17% increase in shares outstanding). Aankondiging • Jun 16
The Macerich Company has filed a Follow-on Equity Offering. The Macerich Company has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 14,000,000 Upcoming Dividend • Jun 08
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 15 June 2026. Payment date: 29 June 2026. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (6.7%). Declared Dividend • May 21
First quarter dividend of US$0.17 announced Shareholders will receive a dividend of US$0.17. Ex-date: 15th June 2026 Payment date: 29th June 2026 Dividend yield will be 3.3%, which is lower than the industry average of 5.6%. Aankondiging • May 13
The Macerich Company has completed a Follow-on Equity Offering in the amount of $403.2 million. The Macerich Company has completed a Follow-on Equity Offering in the amount of $403.2 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 19,200,000
Price\Range: $21
Discount Per Security: $0.6825 Aankondiging • May 12
The Macerich Company has filed a Follow-on Equity Offering. The Macerich Company has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 16,000,000 Aankondiging • May 06
The Macerich Company announces Quarterly dividend, payable on June 29, 2026 The Macerich Company announced Quarterly dividend of USD 0.1700 per share payable on June 29, 2026, ex-date on June 15, 2026 and record date on June 15, 2026. Aankondiging • Apr 23
The Macerich Company, Annual General Meeting, Jun 01, 2026 The Macerich Company, Annual General Meeting, Jun 01, 2026. Aankondiging • Apr 01
The Macerich Company to Report Q1, 2026 Results on May 06, 2026 The Macerich Company announced that they will report Q1, 2026 results After-Market on May 06, 2026 Aankondiging • Feb 13
The Macerich Company Declares Quarterly Cash Dividend, Payable on March 30, 2026 The Board of Directors of The Macerich Company declared a quarterly cash dividend of $0.17 per share of common stock. The dividend is payable on March 30, 2026, to stockholders of record at the close of business on March 16, 2026. Aankondiging • Feb 10
The Macerich Company to Report Q4, 2025 Results on Feb 18, 2026 The Macerich Company announced that they will report Q4, 2025 results After-Market on Feb 18, 2026 Aankondiging • Oct 31
Macerich Company Declares the Quarterly Dividend on Its Common Shares, Payable on December 29, 2025 The Board of Directors of the Macerich Company declared a quarterly cash dividend of $0.17 per share of common stock. The dividend is payable on December 29, 2025, to stockholders of record at the close of business on December 15, 2025. Aankondiging • Oct 17
The Macerich Company to Report Q3, 2025 Results on Nov 04, 2025 The Macerich Company announced that they will report Q3, 2025 results After-Market on Nov 04, 2025 Aankondiging • Jul 18
The Macerich Company to Report Q2, 2025 Results on Aug 11, 2025 The Macerich Company announced that they will report Q2, 2025 results After-Market on Aug 11, 2025 Aankondiging • Apr 29
The Macerich Company Declares Quarterly Cash Dividend, Payable on June 17, 2025 The Board of Directors of the Macerich Company 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. Aankondiging • Apr 25
The Macerich Company, Annual General Meeting, Jun 02, 2025 The Macerich Company, Annual General Meeting, Jun 02, 2025. Aankondiging • Apr 23
The Macerich Company to Report Q1, 2025 Results on May 12, 2025 The Macerich Company announced that they will report Q1, 2025 results Pre-Market on May 12, 2025 Aankondiging • Mar 21
Eric K. Brandt Inform Not Stand for Re-Election as Director of the Macerich Company On March 12, 2025, Eric K. Brandt announced that the Board of Directors of The Macerich Company that he will not stand for re-election as a director of the Company at the 2025 annual meeting of stockholders. Mr. Brandt currently serves as chair of the capital allocation committee and is a member of the compensation committee of the Board and will continue to serve on the Board and maintain his committee positions through the 2025 Annual Meeting. Mr. Brandt's decision not to stand for re-election was not the result of any disagreement with the Company on any matter related to the Company's operations, policies, or practices. In connection with Mr. Brandt's decision, the Board approved a reduction in the size of the Board from nine members to eight members, with such reduction effective as of the 2025 Annual Meeting. Aankondiging • Feb 14
The Macerich Company Declares Quarterly Cash Dividend, Payable on March 18, 2025 The Board of Directors of the Macerich Company declared a quarterly cash dividend of $0.17 per share of common stock. The dividend is payable on March 18, 2025, to stockholders of record at the close of business on March 4, 2025. Aankondiging • Jan 31
The Macerich Company to Report Q4, 2024 Results on Feb 27, 2025 The Macerich Company announced that they will report Q4, 2024 results Pre-Market on Feb 27, 2025 Aankondiging • Jan 24
The Macerich Company Appoints Devin Murphy to its Board of Directors, Effective February 1, 2025 The Macerich Company announced the appointment of Devin Murphy to its Board of Directors, effective February 1, 2025. With the addition of Mr. Murphy, Macerich’s Board will have nine directors, eight of whom are independent. A seasoned retail REIT executive, Mr. Murphy served for more than a decade at Phillips Edison & Company (PECO). Mr. Murphy served as PECO’s President from 2019 until 2024. He was the company’s CFO for six years prior to becoming President in 2019. Mr. Murphy was elected to the Board of Directors of PECO, a NASDAQ-listed REIT, in July 2024. Before joining PECO in 2013, Mr. Murphy worked for 28 years as an investment banker and held senior leadership roles at Morgan Stanley and Deutsche Bank. He was the Global Head of Real Estate Investment Banking at Deutsche Bank, where his team executed over 500 transactions, representing total transaction volume over $400 billion, and a Vice Chairman at Morgan Stanley. Last May 2024, Macerich launched its detailed Path Forward plan designed to lead the company to elevated performance and forward its mission to add long-term value for shareholders, partners, and customers. Macerich’s three-part plan is focused on simplifying its business, improving operational performance and reducing leverage. Mr. Murphy currently serves as a Senior Advisor to Fifth Wall. He is also a Director of CoreCivic where he serves on the Audit and Risk committees and chairs the Nominating and Governance committee. Mr. Murphy earned a B.A. in English and History with Honors from the College of William and Mary and an MBA from the University of Michigan. Recent Insider Transactions • Jan 01
Independent Director recently sold €1.3m worth of stock On the 26th of December, Andrea Stephen sold around 63k shares on-market at roughly €19.77 per share. This transaction amounted to 88% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.8m more than they bought in the last 12 months. Aankondiging • Nov 27
The Macerich Company has completed a Follow-on Equity Offering in the amount of $395 million. The Macerich Company has completed a Follow-on Equity Offering in the amount of $395 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 20,000,000
Price\Range: $19.75
Discount Per Security: $0.641875
Security Features: Income Trust Aankondiging • Nov 26
The Macerich Company has filed a Follow-on Equity Offering. The Macerich Company has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 18,000,000
Security Features: Income Trust Aankondiging • Nov 13
The Macerich Company has filed a Follow-on Equity Offering in the amount of $500 million. The Macerich Company has filed a Follow-on Equity Offering in the amount of $500 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • Nov 08
Third quarter 2024 earnings released: FFO per share: US$0.4 (vs US$0.46 in 3Q 2023) Third quarter 2024 results: FFO per share: US$0.4 (down from US$0.46 in 3Q 2023). Revenue: US$145.3m (up 31% from 3Q 2023). Funds from operations (FFO): US$81.2m (down 18% from 3Q 2023). FFO margin: 56% (down from 90% in 3Q 2023). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Aankondiging • Nov 07
The Macerich Company (NYSE:MAC) acquired 40% stake in Pacific Premier Retail Trust for approximately $120 million. The Macerich Company (NYSE:MAC) acquired 40% stake in Pacific Premier Retail Trust for approximately $120 million on October 24, 2024. The acquisition price was $122 million, and the implied weighted average cap rate was 7.4%. This transaction was funded by proceeds raised from sales of common stock pursuant to our at-the-market common equity offering program. Pacific Premier Retail Trust owns Fortress asset Los Cerritos Center, Fortress Potential asset Washington Square, and Lakewood Center.
The Macerich Company (NYSE:MAC) completed the acquisition of 40% stake in Pacific Premier Retail Trust on October 24, 2024 Aankondiging • Nov 06
The Macerich Company Announces CFO Changes, Effective November 16, 2024 The Macerich Company announced that Daniel E. Swanstrom II will become the Chief Financial Officer of Macerich effective on November 16, 2024. 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. Scott Kingsmore, the current Chief Financial Officer, will transition to the role of Senior Advisor effective November 16, 2024, and remain with the Company through December 31, 2024, to assist in the transition. Declared Dividend • Nov 04
Second quarter dividend of US$0.17 announced Shareholders will receive a dividend of US$0.17. Ex-date: 12th November 2024 Payment date: 2nd December 2024 Dividend yield will be 3.7%, which is lower than the industry average of 5.6%. Aankondiging • Oct 31
Macerich Company Declares Quarterly Dividend, Payable on December 2, 2024 Macerich Company declared a quarterly cash dividend of $0.17 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. Aankondiging • Oct 02
The Macerich Company to Report Q3, 2024 Results on Nov 06, 2024 The Macerich Company announced that they will report Q3, 2024 results Pre-Market on Nov 06, 2024 Upcoming Dividend • Aug 12
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 19 August 2024. Payment date: 09 September 2024. Trailing yield: 4.5%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (5.4%). Aankondiging • Aug 02
Red Development LLC acquired remaining 50% stake in Biltmore Fashion Park from The Macerich Company (NYSE:MAC). Red Development LLC acquired remaining 50% stake in Biltmore Fashion Park from The Macerich Company (NYSE:MAC) on July 31, 2024.
Red Development LLC completed the acquisition of remaining 50% stake in Biltmore Fashion Park from The Macerich Company (NYSE:MAC) on July 31, 2024. Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: US$1.17 (vs US$0.07 loss in 2Q 2023) Second quarter 2024 results: EPS: US$1.17 (up from US$0.07 loss in 2Q 2023). Revenue: US$215.5m (up 4.9% from 2Q 2023). Net income: US$252.0m (up US$267.2m from 2Q 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.7% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Declared Dividend • Jul 29
First quarter dividend of US$0.17 announced Shareholders will receive a dividend of US$0.17. Ex-date: 19th August 2024 Payment date: 9th September 2024 Dividend yield will be 4.5%, which is lower than the industry average of 5.6%. Aankondiging • Jul 26
The Macerich Company Declares Quarterly Cash Dividend, Payable on September 9, 2024 The Board of Directors of the Macerich Company declared a quarterly cash dividend of $0.17 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. Aankondiging • Jul 22
Macerich Company Announces the Appointment of Diana M. Laing to Its Board of Directors Macerich Company 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 when Macerich President and Chief Executive Officer Jackson Hsieh successfully led that company. Ms. Laing’s areas of expertise include corporate strategy, risk management, public equity and corporate debt offerings, finance and capital markets, corporate governance and sustainability matters, investor relations, together with extensive knowledge of IT and cybersecurity, including cybersecurity assessments, controls, protocols, monitoring and incident response, obtained through the responsibility for IT department leadership and activities in each CFO role. Ms. Laing’s impressive professional background includes serving as CFO of American Homes 4 Rent, until her retirement in June 2018. More recently, she was interim CFO for Alexander & Baldwin, from November 2018 to May 2019. Prior to American Homes 4 Rent, she was CFO and corporate secretary for Thomas Properties Group Inc. and CFO for New Pacific Realty Corporation and Arden Realty. Aankondiging • May 17
The Macerich Company (NYSE:MAC) acquired remaining 40% stake in Five Property Assets in USA from global institutional investor for $36.5 million. The Macerich Company (NYSE:MAC) acquired remaining 40% stake in Five Property Assets in USA from global institutional investor for $36.5 million on May 14, 2024.
The Macerich Company (NYSE:MAC) completed the acquisition remaining 40% stake in Five Property Assets in USA from global institutional investor on May 14, 2024. Upcoming Dividend • May 13
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 17 May 2024. Payment date: 03 June 2024. Trailing yield: 4.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.3%). Recent Insider Transactions • May 07
President recently bought €1.9m worth of stock On the 6th of May, Jackson Hsieh bought around 140k shares on-market at roughly €13.24 per share. This transaction increased Jackson's direct individual holding by 5x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jackson's only on-market trade for the last 12 months. Reported Earnings • May 01
First quarter 2024 earnings released: US$0.59 loss per share (vs US$0.27 loss in 1Q 2023) First quarter 2024 results: US$0.59 loss per share (further deteriorated from US$0.27 loss in 1Q 2023). Revenue: US$208.8m (up 36% from 1Q 2023). Net loss: US$126.7m (loss widened 115% from 1Q 2023). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Declared Dividend • Apr 29
Fourth quarter dividend of US$0.17 announced Shareholders will receive a dividend of US$0.17. Ex-date: 17th May 2024 Payment date: 3rd June 2024 Dividend yield will be 4.6%, which is lower than the industry average of 5.6%. Aankondiging • Apr 27
The Macerich Company Declares the Quarterly Cash Dividend, Payable on June 3, 2024 The Board of Directors of the Macerich Company declared a quarterly cash dividend of $0.17 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. Aankondiging • Apr 21
The Macerich Company, Annual General Meeting, May 30, 2024 The Macerich Company, Annual General Meeting, May 30, 2024, at 10:00 Pacific Standard Time. Location: The Fairmont Miramar Hotel, 101 Wilshire Boulevard Santa Monica California United States Agenda: To consider and approve the election of Director; to consider and approve the amendment to Employee Stock Purchase plan; and to consider and approve any other matters. Aankondiging • Apr 09
The Macerich Company to Report Q1, 2024 Results on Apr 30, 2024 The Macerich Company announced that they will report Q1, 2024 results on Apr 30, 2024 Recent Insider Transactions • Mar 25
Advisor recently sold €1.5m worth of stock On the 20th of March, Thomas O'Hern sold around 95k shares on-market at roughly €15.60 per share. This transaction amounted to 47% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.3m more than they bought in the last 12 months. Recent Insider Transactions • Feb 26
President & Director recently sold €795k worth of stock On the 20th of February, Edward Coppola sold around 50k shares on-market at roughly €15.90 per share. This transaction amounted to 7.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Edward's only on-market trade for the last 12 months. Declared Dividend • Feb 12
Fourth quarter dividend of US$0.17 announced Shareholders will receive a dividend of US$0.17. Ex-date: 15th February 2024 Payment date: 4th March 2024 Dividend yield will be 4.1%, which is lower than the industry average of 5.6%. Reported Earnings • Feb 08
Full year 2023 earnings released: FFO per share: US$0.6 (vs US$2.04 in FY 2022) Full year 2023 results: FFO per share: US$0.6 (down from US$2.04 in FY 2022). Revenue: US$884.1m (up 2.1% from FY 2022). Funds from operations (FFO): US$126.5m (down 71% from FY 2022). FFO margin: 14% (down from 51% in FY 2022). Revenue is expected to fall by 2.0% p.a. on average during the next 3 years compared to a 1.7% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 02
The Macerich Company Declares Quarterly Cash Dividend, Payable on March 4, 2024 The Board of Directors of the Macerich Company declared a quarterly cash dividend of $0.17 per share of common stock. The dividend is payable on March 4, 2024, to stockholders of record at the close of business on February 16, 2024. Aankondiging • Jan 09
The Macerich Company to Report Q4, 2023 Results on Feb 07, 2024 The Macerich Company announced that they will report Q4, 2023 results Pre-Market on Feb 07, 2024 Aankondiging • Dec 08
The Macerich Company Announces Retirement of Steven Soboroff from the Board of Directors, Effective December 31, 2023 On December 2, 2023, Mr. Steven Soboroff provided notice of his retirement from the Board of Directors of The Macerich Company effective December 31, 2023. Mr. Soboroff’s retirement from the Board did not involve any disagreements with the Company on any matter relating to the Company’s operations, policies or practices. In connection with Mr. Soboroff’s retirement, the Board approved a reduction in the size of the Board from ten members to nine members, effective upon the retirement of Mr. Soboroff. Reported Earnings • Nov 01
Third quarter 2023 earnings released: FFO per share: US$0.5 (vs US$0.48 in 3Q 2022) Third quarter 2023 results: FFO per share: US$0.5 (down from US$0.48 in 3Q 2022). Revenue: US$110.7m (down 49% from 3Q 2022). Funds from operations (FFO): US$99.1m (down 3.6% from 3Q 2022). FFO margin: 90% (up from 47% in 3Q 2022). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 2.7% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Aankondiging • Sep 28
The Macerich Company to Report Q3, 2023 Results on Oct 31, 2023 The Macerich Company announced that they will report Q3, 2023 results Pre-Market on Oct 31, 2023 Upcoming Dividend • Aug 10
Upcoming dividend of US$0.17 per share at 5.4% yield Eligible shareholders must have bought the stock before 17 August 2023. Payment date: 08 September 2023. Trailing yield: 5.4%. Within top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.3%). Reported Earnings • Aug 09
Second quarter 2023 earnings released: US$0.069 loss per share (vs US$0.073 loss in 2Q 2022) Second quarter 2023 results: US$0.069 loss per share (improved from US$0.073 loss in 2Q 2022). Revenue: US$212.4m (flat on 2Q 2022). Net loss: US$15.0m (loss narrowed 4.0% from 2Q 2022). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 3.7% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 09
An unknown buyer acquired Superstition Springs Power Center, a 204,000 Square Foot Power Center in Mesa, Arizona from The Macerich Company (NYSE:MAC) for $5.6 million. An unknown buyer acquired Superstition Springs Power Center, a 204,000 Square Foot Power Center in Mesa, Arizona from The Macerich Company (NYSE:MAC) for $5.6 million on July 17, 2023.An unknown buyer completed the acquisition of Superstition Springs Power Center, a 204,000 Square Foot Power Center in Mesa, Arizona from The Macerich Company (NYSE:MAC) on July 17, 2023. Aankondiging • Jun 30
The Macerich Company to Report Q2, 2023 Results on Aug 08, 2023 The Macerich Company announced that they will report Q2, 2023 results Pre-Market on Aug 08, 2023 Aankondiging • Jun 16
The Macerich Company (NYSE:MAC) acquired the remaining 50% stakes in 5 Former Sears Boxes from Seritage Growth Properties (NYSE:SRG). The Macerich Company (NYSE:MAC) acquired the remaining 50% stakes in 5 Former Sears Boxes from Seritage Growth Properties (NYSE:SRG) in May 2023. The Macerich Company (NYSE:MAC) completed the acquisition of remaining 50% stakes in 5 Former Sears Boxes from Seritage Growth Properties (NYSE:SRG) in May 2023. New Risk • Jun 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.6x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.9% average weekly change). Upcoming Dividend • May 11
Upcoming dividend of US$0.17 per share at 7.0% yield Eligible shareholders must have bought the stock before 18 May 2023. Payment date: 02 June 2023. Trailing yield: 7.0%. Within top quartile of German dividend payers (4.7%). In line with average of industry peers (6.9%). Reported Earnings • May 05
First quarter 2023 earnings released: US$0.27 loss per share (vs US$0.17 loss in 1Q 2022) First quarter 2023 results: US$0.27 loss per share (further deteriorated from US$0.17 loss in 1Q 2022). Revenue: US$214.9m (up 15% from 1Q 2022). Net loss: US$58.7m (loss widened 57% from 1Q 2022). Revenue is forecast to grow 3.7% during the next year, compared to a 3.3% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 26
Full year 2022 earnings released: FFO per share: US$2.0 (vs US$2.13 in FY 2021) Full year 2022 results: FFO per share: US$2.0. Revenue: US$865.5m (flat on FY 2021). Funds from operations (FFO): US$437.5m (up 3.6% from FY 2021). FFO margin: 51% (up from 49% in FY 2021). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the REITs industry in Europe. Upcoming Dividend • Feb 09
Upcoming dividend of US$0.17 per share at 5.1% yield Eligible shareholders must have bought the stock before 16 February 2023. Payment date: 03 March 2023. Trailing yield: 5.1%. Within top quartile of German dividend payers (4.7%). In line with average of industry peers (4.8%). Aankondiging • Feb 08
The Macerich Company Provides Earnings Guidance for Fiscal Year 2023 The Macerich Company provided earnings guidance for fiscal year 2023. For the period, The company expects EPS-diluted to be $(0.13) - $(0.03). Aankondiging • Jan 28
Macerich Company Declares Quarterly Cash Dividend for Common Stock, Payable on March 3, 2023 The Board of Directors of the Macerich Company declared a quarterly cash dividend of $0.17 per share of common stock. The dividend is payable on March 3, 2023, to stockholders of record at the close of business on February 17, 2023. Aankondiging • Jan 13
The Macerich Company to Report Q4, 2022 Results on Feb 07, 2023 The Macerich Company announced that they will report Q4, 2022 results Pre-Market on Feb 07, 2023 Board Change • Nov 17
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 4 highly experienced directors. Independent Director Marianne Lowenthal was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2022 earnings released: FFO per share: US$0.5 (vs US$0.56 in 3Q 2021) Third quarter 2022 results: FFO per share: US$0.5. Funds from operations (FFO): US$102.8m (up 1.4% from 3Q 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the REITs industry in Europe. Aankondiging • Nov 04
The Macerich Company Narrows Earnings Guidance for the Fiscal Year 2022 The Macerich Company narrowed earnings guidance for the fiscal year 2022. For the period, the company expected loss per share to be in the range of $0.28 to $0.22. Aankondiging • Nov 01
The Macerich Company Announces Retirement of Diana Laing from Board of Directors On October 27, 2022, Ms. Diana Laing provided notice of her retirement from the Board of Directors of The Macerich Company effective December 31, 2022. Ms. Laing’s retirement from the Board did not involve any disagreements with the Company on any matter relating to the Company’s operations, policies or practices. The Board has decided to reduce the size of its Board by one member upon the retirement of Ms. Laing. Aankondiging • Oct 29
The Macerich Company Declares the Quarterly Dividend on Its Common Shares Payable on December 2, 2022 The Board of Directors of the Macerich Company approved a quarterly cash dividend increase of $0.17 per share of common stock from $0.15 per share. The dividend is payable on December 2, 2022 to stockholders of record at the close of business on November 9, 2022. Aankondiging • Sep 23
The Macerich Company to Report Q3, 2022 Results on Nov 03, 2022 The Macerich Company announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Nov 03, 2022 Recent Insider Transactions • Sep 22
CEO & Director recently bought €199k worth of stock On the 19th of September, Thomas O'Hern bought around 22k shares on-market at roughly €8.97 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €502k. Thomas has been a buyer over the last 12 months, purchasing a net total of €560k worth in shares. Upcoming Dividend • Aug 11
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 18 August 2022. Payment date: 08 September 2022. Trailing yield: 5.4%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (4.6%). Reported Earnings • Jul 30
Second quarter 2022 earnings released: FFO: US$210.4m per share (vs US$0.77 in 2Q 2021) Second quarter 2022 results: FFO: US$210.4m per share (down from US$0.77 in 2Q 2021). Revenue: US$210.4m (down 11% from 2Q 2021). Funds from operations (FFO): US$102.9m (down 19% from 2Q 2021). FFO margin: 49% (down from 54% in 2Q 2021). Over the next year,revenue is forecast to stay flat, in line with the revenue forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Aankondiging • Jul 29
The Macerich Company Provides Earnings Guidance for 2022 The Macerich Company provided earnings guidance for 2022. For the year, the company expects Loss per share– diluted of 0.21 to 0.09. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improved over the past week After last week's 16% share price gain to €10.28, the stock trades at a trailing P/E ratio of 55x. Average forward P/E is 10x in the REITs industry in Europe. Total loss to shareholders of 36% over the past three years. Aankondiging • Jul 21
Macerich Declares the Quarterly Dividend on Its Common Shares Payable on September 8, 2022 The Board of Directors of the Macerich Company declared a quarterly cash dividend of $0.15 per share of common stock. The dividend is payable on September 8, 2022 to stockholders of record at the close of business on August 19, 2022. Recent Insider Transactions • Jul 03
President & Director recently bought €502k worth of stock On the 30th of June, Edward Coppola bought around 60k shares on-market at roughly €8.37 per share. This was the largest purchase by an insider in the last 3 months. Edward has been a buyer over the last 12 months, purchasing a net total of €1.1m worth in shares. Aankondiging • Jul 01
The Macerich Company to Report Q2, 2022 Results on Jul 28, 2022 The Macerich Company announced that they will report Q2, 2022 results Pre-Market on Jul 28, 2022 Recent Insider Transactions • Jun 15
CEO & Director recently bought €227k worth of stock On the 13th of June, Thomas O'Hern bought around 25k shares on-market at roughly €9.10 per share. This was the largest purchase by an insider in the last 3 months. Thomas has been a buyer over the last 12 months, purchasing a net total of €360k worth in shares. Valuation Update With 7 Day Price Move • May 25
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €10.50, the stock trades at a trailing P/E ratio of 61.6x. Average forward P/E is 11x in the REITs industry in Europe. Total loss to shareholders of 45% over the past three years. 
