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Last $82.56 USD
Change Today -0.33 / -0.40%
Volume 609.5K
MAC On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

macerich co/the (MAC) Snapshot

Open
$82.63
Previous Close
$82.89
Day High
$83.55
Day Low
$82.52
52 Week High
03/16/15 - $95.93
52 Week Low
09/26/14 - $62.62
Market Cap
13.1B
Average Volume 10 Days
1.5M
EPS TTM
$10.15
Shares Outstanding
158.3M
EX-Date
05/6/15
P/E TM
8.1x
Dividend
$2.60
Dividend Yield
3.11%
Current Stock Chart for MACERICH CO/THE (MAC)

macerich co/the (MAC) Related Businessweek News

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macerich co/the (MAC) Details

The Macerich Company is an independent real estate investment trust. The firm invests in the real estate markets of the United States. It primarily engages in acquisition, ownership, development, redevelopment, management and leasing of regional and community shopping centers located throughout the United States. The Macerich Company was founded in 1964 and is headquartered in Santa Monica, California with additional offices in Phoenix, Arizona; Dallas, Texas; Pittsford, New York.

976 Employees
Last Reported Date: 02/23/15
Founded in 1965

macerich co/the (MAC) Top Compensated Officers

Chairman, Chief Executive Officer and Chairma...
Total Annual Compensation: $1.0M
President and Director
Total Annual Compensation: $800.0K
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $550.0K
Executive Vice President of Leasing
Total Annual Compensation: $500.0K
Chief Legal Officer, Senior Executive Vice Pr...
Total Annual Compensation: $500.0K
Compensation as of Fiscal Year 2014.

macerich co/the (MAC) Key Developments

Macerich Announces Opening of VITA Residences at Tysons Corner Center

Macerich announced the opening of VITA Tysons Corner, a new 30-story luxury apartment tower that completes the company's mixed-use urban expansion project at Tysons Corner in Northern Virginia, just outside Washington, D.C. The first residents are now moving in to the 429-unit VITA. Macerich's large-scale vertical densification at Tysons Corner also includes the 18-story, 300-room Hyatt Regency hotel, which opened in April, and the multiple award-winning, 22-story Tysons Tower trophy office building. The entire expansion project leverages and enhances the success of Macerich's Tysons Corner Center. Kettler, one of the region's top multifamily developers and operators, developed and will manage VITA at Tysons Corner.

The Macerich Company Announces Board Changes

The Macerich Company announced the addition of two new independent directors and a plan to terminate its stockholder rights plan and declassify its Board of Directors. Under the plan announced, the board has added two new independent director nominees to stand for election at the 2015 Annual Meeting of Stockholders. John Alschuler, Chairman of HR&A Advisors Inc., an economic development, real-estate and public policy consulting organization, and Steven R. Hash, former Head of Global Equity Research and of Real Estate Investment Banking at Lehman Brothers and current President and Chief Operating Officer of Renaissance Macro Research, will be added to the Company's slate and eligible to join the Board following the 2015 Annual Meeting.  Messrs. Alschuler and Hash are distinguished and highly respected executives with deep real estate and finance experience, and have a track record of delivering value to stockholders as directors of publicly traded companies. In connection with the addition of the new nominees, Dana Anderson and Dr. William P. Sexton have agreed to step down from the Board following the Annual Meeting. Since 2008, John H. Alschuler has served as Chairman of HR&A Advisors Inc., an economic development, real-estate and public policy consulting organization. Mr. Alschuler served as Board Chair and is currently Emeritus Chair of Friends of the High Line Inc. and is a Board Member of Center for an Urban Future. Steven R. Hash is currently the President and Chief Operating Officer of Renaissance Macro Research, LLC.

Sears Holdings Corporation and The Macerich Company Form Joint Venture

Sears Holdings Corporation and The Macerich Company form a joint venture to enhance its financial flexibility and generate value from its real estate portfolio. Sears Holdings contributed nine properties where Sears currently operates stores located at Macerich malls to the joint venture, including property with space leased to third parties. Sears Holdings will lease back from the joint venture and continue to operate existing Sears Holdings stores at the properties contributed to the joint venture. Macerich contributed $150 million in cash to the joint venture, which has been distributed to Sears Holdings. The lease arrangements between Sears Holdings and the joint venture provide the joint venture with the ability to create additional value through recapturing certain space leased to Sears Holdings in the contributed properties and re-leasing that space to third-party tenants.

 

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