Macerich Company (MAC)

Macerich Co. announced the acquisition of Crabtree Mall for $290 million on June 24, 2025, funded through cash and a credit line, with plans for redevelopment. On October 26, 2025, Weiss Ratings assigned Macerich a "Sell (D+)" rating. In Q1 2024, Macerich's FFO fell short of expectations, impacted by reserves against past due rent and non-recurring costs, leading to the withdrawal of its 2024 FFO per share guidance. Despite these challenges, Macerich reported strong leasing volumes and metrics, with 93.4% occupancy and flat sales year-over-year in Q1 2024, and announced a quarterly dividend of $0.17.

Macerich's business is linked to the broader retail industry's seasonality, with heightened demand during holiday seasons and back-to-school periods, potentially influencing demand for retail space and leasing activity. Macerich's strategy of creating experiential shopping destinations aims to drive consistent consumer traffic and tenant sales throughout the year.

Macerich Company (MAC) is a real estate investment trust (REIT) that specializes in the ownership, operation, and development of retail and mixed-use properties in the United States. Founded in 1964, Macerich focuses on Class A shopping centers and operates within the retail REIT industry. The company's primary activities include leasing and management of retail space, remerchandising, redevelopment, and integrating experiential elements. As of December 31, 2024, Macerich had interests in 43 properties comprising 43 million square feet of leasable area.

Macerich has a significant market presence across the United States, with a portfolio concentrated in key metropolitan areas. Its geographic footprint includes a strong focus on California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. As of Q1 2024, California accounted for 32% of its Net Operating Income, the Northeast/Mid-Atlantic for 21%, Arizona for 15%, and the Pacific Northwest for 10%, with other regions making up the remaining 22%.

Macerich has a strong brand reputation, particularly in sustainability and corporate responsibility. The company has been recognized as a leader in sustainability, achieving the #1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for ten consecutive years from 2015 to 2024. Macerich is dedicated to advancing environmental goals, social good, and sound corporate governance, and is committed to creating welcoming and inclusive places.

Institutional investors and hedge funds collectively own a significant portion of Macerich Co.'s stock, holding 87.38% of the company. PGGM Investments increased its stake by 15.9% in Q2 2025, while Intech Investment Management LLC increased its stake by 39.2% in Q1 2025. Other notable institutional holders include Envestnet Asset Management Inc., Northwestern Mutual Wealth Management Co., and Nissay Asset Management Corp Japan ADV. OVERSEA CHINESE BANKING Corp Ltd also acquired a new stake in Q2 2025.