Key Developments: Macerich Co (MAC.N)

MAC.N on New York Stock Exchange

62.14USD
1 Aug 2013
Price Change (% chg)

$0.09 (+0.14%)
Prev Close
$62.05
Open
$62.42
Day's High
$62.56
Day's Low
$61.85
Volume
218,027
Avg. Vol
413,549
52-wk High
$72.00
52-wk Low
$54.32

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Latest Key Developments (Source: Significant Developments)

Macerich Co Raises FY 2013 FFO Guidance
Wednesday, 1 May 2013 04:15pm EDT 

Macerich Co announced that it has increased its previously issued estimated fiscal 2013 FFO per share-diluted guidance range by $.03 per share to $3.35 to $3.45. According to I/B/E/S Estimates, analysts were expecting the Company to report FFO of $3.38 per share for fiscal 2013.  Full Article

Macerich Co Issues FY 2013 FFO Guidance In Line With Analysts' Estimates
Wednesday, 6 Feb 2013 06:00am EST 

Macerich Co announced that for fiscal 2013, it expects FFO per share-diluted guidance range of $3.32 to $3.42. According to I/B/E/S Estimates, analysts were expecting the Company to report FFO of $3.36 per share for fiscal 2013.  Full Article

Macerich Co Declares Quarterly Dividend On Common Shares
Friday, 1 Feb 2013 03:14pm EST 

Macerich Co announced that it has declared a quarterly cash dividend of $.58 per share of common stock. The dividend is payable on March 8, 2013 to stockholders of record at the close of business on February 22, 2013.  Full Article

Macerich Co Announces Closing Of Acquisition Of Green Acres Mall From Vornado Realty Trust's Subsidiary
Friday, 25 Jan 2013 06:00am EST 

Macerich Co announced the closing of the acquisition of Green Acres Mall. Green Acres Mall is a 1.8 million square foot regional mall located in Valley Stream, New York. Green Acres is anchored by Macy's, Macy's Men's, Sears, Kohl's, jcpenney, BJ's Wholesale Club and Walmart. Green Acres was acquired from a subsidiary of Vornado Realty Trust. The purchase price was $500 million. The acquisition was funded with a $325 million, eight-year, fixed rate loan. The loan has a fixed interest rate of 3.43%. The balance of the purchase price was funded from cash on hand, and from the Company's line of credit.  Full Article

Macerich Co Announces Closing $1.3 Billion In Financings
Thursday, 10 Jan 2013 02:19pm EST 

Macerich Co announced the recent closing of five loans with the Company's pro rata share totaling over $1.3 billion. The average interest rate on these loans was 3.33% and the average maturity was 8.2 years. With the completion of these financings, the Company has extended its loan maturity average life to 5.5 years, up from 3.2 years at January 1, 2012.  Full Article

Alexander's Inc Completes Sale Of Kings Plaza Mall To Macerich Co
Friday, 30 Nov 2012 07:52pm EST 

Alexander's Inc announced that it has completed the previously announced sale of the Kings Plaza Mall, Brooklyn, New York to The Macerich Company, for $751 million. Net proceeds from the sale were approximately $479 million after repaying the existing loan and closing costs.  Full Article

GI Partners Sells Majority Stake In FlatIron Crossing To JV Partner Macerich Co
Tuesday, 6 Nov 2012 08:10am EST 

GI Partners (GI), announced the sale of its 75% ownership stake in FlatIron Crossing, a 1.7 million square foot class-A regional mall located in Broomfield, CO, to its joint venture partner, Macerich. GI Partners invested in FlatIron Crossing in 2009, acquiring its 75% interest in the mall from Macerich, who remained the operating partner in the venture. The sale of FlatIron Crossing generated a return of approximately two times invested capital and over a 25% gross internal rate of return to limited partners of GI Partners Fund III, L.P. Terms of the transaction were not disclosed.  Full Article

Macerich Co Reaffirms FY 2012 FFO Guidance
Wednesday, 31 Oct 2012 06:00am EDT 

Macerich Co reaffirmed previously issued fiscal 2012 AFFO per share-diluted guidance range of $3.06 to $3.14.  Full Article

Macerich Co Declares Increased Quarterly Dividend On Common Shares
Thursday, 25 Oct 2012 06:08pm EDT 

Macerich Co announced that it has declared a quarterly cash dividend of $.58 per share of common stock. This reflects a 5.5% increase in the quarterly dividend. The dividend is payable on December 7, 2012 to stockholders of record at the close of business on November 12, 2012.  Full Article

Macerich Co Reaffirms FY 2012 FFO Guidance
Wednesday, 1 Aug 2012 06:00am EDT 

Macerich Co reaffirmed fiscal 2012 AFFO per share-diluted guidance range of $3.06 to $3.14. According to I/B/E/S Estimates, analysts were expecting the Company to report FFO of $3.14 for fiscal 2012.  Full Article

Exclusive: Macerich in talks with Starwood for sale of four malls

NEW YORK - Starwood Retail Properties is in talks to buy four lower sales- generating malls from Macerich Co , two sources familiar with the deal said on Tuesday.

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