United States

Macerich Co (MAC.N)

MAC.N on New York Stock Exchange

26 Oct 2016
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$-1.79 (-2.34%)
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Latest Key Developments (Source: Significant Developments)

Macerich announces joint ventures on assets valued at $5.4 billion
Wednesday, 30 Sep 2015 05:45pm EDT 

Macerich Co :Announces joint ventures on assets valued at $5.4 billion.Says gic will have a 40% interest in five assets and heitman will have a 49% interest in three assets.Says planning to put financing on south plains mall and twenty ninth street center.Reached deal to form jvs to which co will contribute interests in 8 assets with cash proceeds to Macerich totaling $2.3 billion.Says will refinance the debt on Washington square, los Cerritos center and arrowhead towne center.Use of the proceeds is expected to include share repurchases under the company's $1.2 billion share repurchase program.Included in the total cash proceeds is macerich's share of the excess financing proceeds which is estimated to be $1.14 billion.Use of proceeds expected to include pay down of line of credit debt balance, for special dividend in range of $3.50-$4.50 per share.  Full Article

Macerich announces $1.2 billion share repurchase program
Wednesday, 30 Sep 2015 05:30pm EDT 

Macerich Co :Announces $1.2 billion share repurchase program.Board authorized the repurchase of up to $1.2 billion of its outstanding common shares over the next 24 months as market conditions warrant.  Full Article

Macerich Declares Quarterly Dividend
Friday, 24 Jul 2015 04:15pm EDT 

Macerich Co:Declared a quarterly cash dividend of $.65 per share of common stock.Dividend is payable on September 8, 2015 to stockholders of record at the close of business on August 20, 2015.  Full Article

Macerich Co raises FY 2015 FFO guidance
Thursday, 23 Jul 2015 08:00am EDT 

Macerich Co:Says that the management is increasing its previously provided FFO per share guidance range to $3.86 to $3.94 up from $3.83 to $3.93 for FY 2015.  Full Article

Sears HoldingsCorp and Macerich Co create a 50/50 JV
Thursday, 30 Apr 2015 09:56am EDT 

Sears HoldingsCorp And Macerich Co:Says they have formed a joint venture as part of Sears Holdings' continued efforts to enhance its financial flexibility and generate value from its real estate portfolio.Says Macerich contributed $150 million in cash to the JV, which has been distributed to Sears Holdings.Total purchase price for the 9 properties in the transaction is $300 million.In exchange for $150 million and a 50 pct JV interest, Sears Holdings contributed to JV 9 properties located at Macerich malls where Sears Holdings currently operates stores.Macerich contributed $150 million in cash for its 50 pct JV interest, which has been distributed to Sears Holdings in accordance with the terms of the agreements between the parties.Sears Holdings will lease back from the JV and continue to operate existing Sears Holdings stores at the properties contributed to JV.  Full Article

Macerich Co raises FY 2015 FFO guidance
Wednesday, 29 Apr 2015 05:51pm EDT 

Macerich Co:Increases previously provided FY 2015 FFO per share guidance range to $3.83 to $3.93 up from $3.80 to $3.90.FY 2015 FFO per share of $3.86 - Thomson Reuters I/B/E/S.  Full Article

Macerich Co declares quarterly cash dividend
Friday, 24 Apr 2015 02:48pm EDT 

Macerich Co:Declares quarterly cash dividend of $.65 per share of common stock.Payable on June 5, to stockholders of record at the close of business on May 8.  Full Article

Simon Property Group Inc withdraws offer to acquire Macerich Co
Tuesday, 31 Mar 2015 11:57pm EDT 

Simon Property Group Inc:Confirmed that it has withdrawn its offer to acquire outstanding shares of Macerich Co for $95.50 per share, in light of decision by Macerich board not to engage in discussions with Simon.  Full Article

Macerich Co's board unanimously rejects revised, unsolicited proposal from Simon Property Group Inc
Tuesday, 31 Mar 2015 11:45pm EDT 

Macerich Co:Says that its board unanimously rejected Simon Property Group Inc.'s revised, unsolicited proposal to acquire Macerich Co for $95.50 per share in cash and stock.Says that its board carefully reviewed revised proposal with assistance of its financial, real estate and legal advisors, and determined that proposal continues to substantially undervalue Macerich.And that pursuing proposed transaction at this time is not in the best interests of Macerich and its stockholders.  Full Article

Simon Property Group proposes to acquire Macerich Co
Monday, 9 Mar 2015 09:00am EDT 

Simon Property Group Inc:Sent a letter to Macerich Co, confirming its prior discussions regarding Simon's proposal to acquire all of the outstanding stock of Macerich for $91.00 per share in cash and Simon shares.The total value of the proposed transaction is about $22.4 billion, including the assumption of Macerich's about $6.4 billion of debt outstanding (inclusive of its pro rata share of mortgage debt from unconsolidated entities).  Full Article

BRIEF-Macerich increases quarterly cash dividend by 4.4 pct

* Increases quarterly cash dividend by 4.4 percent to $0.71 per share Source text for Eikon: Further company coverage: