The Macerich Company MAC
Macerich operates as a comprehensive, self-managed real estate investment trust (REIT) that independently oversees all aspects of its operations. Its core focus is on the acquisition, leasing, management, development, and revitalization of regional shopping malls throughout the United States. The company currently holds interests in 47 regional retail complexes, representing a total portfolio of 51 million square feet of real estate. Macerich specializes in high-performing retail properties located within America's most sought-after and populous markets, boasting a significant footprint particularly across the West Coast, Arizona, Chicago, and the corridor extending from Metropolitan New York to Washington, D.C. A consistent leader in environmental sustainability, Macerich earned the top GRESB ranking in the North American Retail Sector for an impressive five consecutive years, from 2015 to 2019.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-20 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / FFO, as adjusted / leverage are from the Q1 2026 earnings release (filed 2026-05-06) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model MAC yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $1.02B | $-197.15M | $365.52M | $404.93M | $321.60M |
| 2024 | $918.20M | $-194.12M | $305.88M | $326.90M | $283.44M |
| 2023 | $884.07M | $-274.06M | $296.39M | $190.72M | $295.50M |
| 2022 | $859.16M | $-66.07M | $302.48M | $454.96M | $337.51M |
| 2021 | $847.44M | $14.26M | $324.40M | $540.19M | $286.37M |
| 2020 | $786.03M | $-230.20M | $326.06M | $155.70M | $124.84M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-15 | 2026-06-15 | 2026-06-29 | 2026-05-04 | $0.17 | Quarterly |
| 2026-03-16 | 2026-03-16 | 2026-03-30 | 2026-02-12 | $0.17 | Quarterly |
| 2025-12-15 | 2025-12-15 | 2025-12-29 | 2025-10-30 | $0.17 | Quarterly |
| 2025-09-09 | 2025-09-09 | 2025-09-23 | 2025-07-31 | $0.17 | Quarterly |
| 2025-06-03 | 2025-06-03 | 2025-06-17 | 2025-04-28 | $0.17 | Quarterly |
| 2025-03-04 | 2025-03-04 | 2025-03-18 | — | $0.17 | Quarterly |
| 2024-11-12 | 2024-11-12 | 2024-12-02 | 2024-10-31 | $0.17 | Quarterly |
| 2024-08-19 | 2024-08-19 | 2024-09-09 | 2024-07-26 | $0.17 | Quarterly |
| 2024-05-17 | 2024-05-20 | 2024-06-03 | 2024-04-26 | $0.17 | Quarterly |
| 2024-02-15 | 2024-02-16 | 2024-03-04 | 2024-02-02 | $0.17 | Quarterly |
| 2023-11-08 | 2023-11-09 | 2023-12-01 | 2023-10-27 | $0.17 | Quarterly |
| 2023-08-17 | 2023-08-18 | 2023-09-08 | 2023-08-04 | $0.17 | Quarterly |
| 2023-05-18 | 2023-05-19 | 2023-06-02 | 2023-04-28 | $0.17 | Quarterly |
| 2023-02-16 | 2023-02-17 | 2023-03-03 | 2023-01-27 | $0.17 | Quarterly |
| 2022-11-08 | 2022-11-09 | 2022-12-02 | 2022-10-28 | $0.17 | Quarterly |
| 2022-08-18 | 2022-08-19 | 2022-09-08 | 2022-07-20 | $0.15 | Quarterly |
| 2022-05-19 | 2022-05-20 | 2022-06-03 | 2022-05-09 | $0.15 | Quarterly |
| 2022-02-17 | 2022-02-18 | 2022-03-03 | 2022-01-27 | $0.15 | Quarterly |
| 2021-11-08 | 2021-11-09 | 2021-12-03 | 2021-10-28 | $0.15 | Quarterly |
| 2021-08-18 | 2021-08-19 | 2021-09-08 | 2021-07-30 | $0.15 | Quarterly |
| 2021-05-06 | 2021-05-07 | 2021-06-03 | 2021-04-29 | $0.15 | Quarterly |
| 2021-02-18 | 2021-02-19 | 2021-03-03 | 2021-01-28 | $0.15 | Quarterly |
| 2020-11-06 | 2020-11-09 | 2020-12-03 | 2020-10-29 | $0.15 | Quarterly |
| 2020-08-18 | 2020-08-19 | 2020-09-08 | 2020-07-24 | $0.15 | Quarterly |
Coverage (payout of operating cash flow): 54.26%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — MAC
Macerich Schedules Second Quarter 2026 Earnings Release and Conference Call
Macerich: Growth Story Hobbled By Debt
Here Are Wednesday’s Best Wall Street Analyst Research Calls: Devon Energy, Flowserve, Klaviyo, Macerich, Merck, Nucor, Take-Two Interactive Software, Twilio, and More
Scottsdale Fashion Square Announces Naming Rights Opportunity of its Newly Redeveloped Signature Gathering Space and Social Hub
Here Are Wednesday's Best Wall Street Analyst Research Calls: Block, Charles River Laboratories, Cognizant Technology, Constellation Energy, Credicorp, First Solar, GE Vernova, Huntsman, Macerich, and More
MAC Trends to Watch as Redevelopment and Demand Reshape Growth
MAC Stock Faces Key Test as Leasing Pipeline Drives Future NOI Growth
Macerich Announces Pricing of Public Offering of Common Stock
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
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Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.