MACERICH CO

Listed Company

MACCIK 0000912242NYSELarge AcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$1.01B

Net Income

$-197.15M

Total Assets

$8.37B

Equity

$2.45B

Shares Out

261.38M

Op. Cash Flow

$321.60M

MAC$25.90+55.74% · past yearDBEQ Basic

Daily closing prices

Business

Macerich Co is a self-administered and self-managed real estate investment trust that acquires, owns, develops, redevelops, manages and leases regional and community/power shopping centers throughout the United States. As of December 31, 2025, the company owned or had interests in 38 shopping centers totaling approximately 39 million square feet of gross leasable area, comprising 37 regional retail centers and one community/power shopping center. The company operates through consolidated centers and unconsolidated joint venture centers, generating revenue primarily from minimum rents, percentage rents and expense recoveries from approximately 4,600 tenants.

Summary from 10-K filed 2026-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Leasing revenue	951	850	809	801	788
Total revenues	1,014	918	884	859	847
Leasing expenses	47	41	36	33	25
REIT general and administrative expenses	32	28	29	27	30
Depreciation and amortization	357	295	282	292	311
Total expenses before interest	846	753	706	709	722
Interest (income) expense	284	220	173	217	193
Gain on extinguishment of debt	0	−14	−8	0	1
Total expenses	1,130	959	871	926	916
Equity in income (loss) of unconsolidated joint ventures	36	−197	−157	−5	16
Income tax benefit	2	1	494,000	−705,000	−7
(Loss) gain on sale or write down of assets, net	−123	39	−135	8	76
Net loss	−201	−198	−278	−65	16
Less net loss attributable to noncontrolling interests	−4	−4	−4	989,000	2
Net loss attributable to the Company	−197	−194	−274	−66	14
Basic (in dollars per share)	−0.78	−0.88	−1.28	−0.31	0.07
Diluted (in dollars per share)	−0.78	−0.88	−1.28	−0.31	0.07
Basic (in shares)	254	222	216	215	198
Diluted (in shares)	254	222	216	215	198

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Property, net	6,688	7,097	5,900	6,128	6,284
Cash and cash equivalents	280	90	95	100	112
Restricted cash	93	88	95	81	55
Tenant and other receivables, net	146	155	183	184	211
Right-of-use assets, net	109	111	119	127	111
Deferred charges and other assets, net	343	370	263	247	255
Due from affiliates	2	2	—	—	—
Investments in unconsolidated joint ventures	707	655	853	1,224	1,318
Total assets	8,369	8,567	7,514	8,094	8,346
Mortgage notes payable	5,069	4,895	4,136	4,241	4,424
Bank and other notes payable	0	98	90	163	105
Accounts payable and accrued expenses	125	88	64	63	59
Lease liabilities	67	72	84	95	81
Other accrued liabilities	386	380	335	319	254
Distributions in excess of investments in unconsolidated joint ventures	194	193	175	121	128
Total liabilities	5,842	5,725	4,986	5,145	5,170
Commitments and contingencies	—	—	—	—	—
Common stock, $0.01 par value, 500,000,000 shares authorized at December 31, 2025 and 2024, 256,990,913 and 252,925,496 shares issued and outstanding at December 31, 2025 and 2024, respectively	3	3	2	2	2
Additional paid-in capital	6,224	6,161	5,510	5,506	5,488
Accumulated deficit	−3,778	−3,407	−3,064	−2,643	−2,444
Accumulated other comprehensive loss	−9,000	−34,000	−952,000	632,000	−24,000
Total stockholders' equity	2,449	2,756	2,447	2,866	3,047
Noncontrolling interests	78	86	81	84	129
Total equity	2,527	2,842	2,528	2,949	3,176
Total liabilities and equity	8,369	8,567	7,514	8,094	8,346

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loss (gain) on sale or write down of assets, net	123	−39	135	−8	−76
Depreciation and amortization	368	306	296	302	324
Amortization of net discount on mortgage notes payable	31	13	0	0	0
Amortization of share and unit-based plans	18	12	13	18	14
Straight-line rent and amortization of above and below market leases, net	−7	−3	522,000	−1	−8
Provision for (recovery of) doubtful accounts	5	6	−3	−656,000	−6
Change in fair value of financing arrangement obligation	0	−14	−35	24	−15
Distributions of income from unconsolidated joint ventures	0	0	280,000	2	48,000
Tenant and other receivables	3	3	354,000	7	62
Other assets	612,000	−16	6	−13	15
Due from affiliates	−609,000	3	−1	−4	2
Accounts payable and accrued expenses	33	21	2	−382,000	−7
Other accrued liabilities	−14	7	11	71	−28
Net cash provided by operating activities	322	283	296	338	286
Acquisition of property	−267	−171	−47	−25	0
Development, redevelopment, expansion and renovation of properties	−101	−109	−78	−42	−78
Property improvements	−66	−58	−75	−53	−31
Proceeds from collection of notes receivable	0	0	4	0	1
Deferred leasing costs	−6	−5	−7	−3	−3
Distributions from unconsolidated joint ventures	113	94	301	131	94
Contributions to unconsolidated joint ventures	−158	−49	−81	−82	−87
Cash and restricted cash acquired from acquisition of previously unconsolidated joint venture	0	49	0	—	—
Derecognition of cash previously held by a consolidated joint venture to an unconsolidated joint venture	0	−13	0	0	—
Proceeds from sale of assets	160	282	36	—	—
Net cash (used in) provided by investing activities	−325	20	53	−1	235
Proceeds from mortgages, bank and other notes payable	599	1,225	719	277	520
Payments on mortgages, bank and other notes payable	−257	−2,024	−863	−406	−2,020
Deferred financing costs	−5	−9	−29	−6	−23
Payment on finance arrangement obligation	0	0	−6	0	0
Payments on finance leases	−4	−6	−2	−2	−2
Proceeds from share and unit-based plans	2	2	2	2	1
Proceeds (costs) from stock offerings, net	53	657	−583,000	—	—
Redemption of noncontrolling interests	−4,000	0	−55,000	−328,000	−178,000
Contributions from noncontrolling interests	4,000	0	0	602,000	128,000
Dividends and distributions	−188	−161	−159	−186	−143
Net cash provided by (used in) financing activities	199	−316	−339	−322	−837
Net increase (decrease) in cash and cash equivalents and restricted cash	195	−13	9	14	−316
Cash payments for interest, net of amounts capitalized	208	186	192	180	204
Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities	58	49	48	35	18
Derecognition of previously consolidated property and related liabilities to investment in unconsolidated joint venture	0	347	0	0	—
Conversion of Operating Partnership Units to common stock	7	11	5	3	49
Assets acquired from unconsolidated joint ventures	0	2,125	47	24	0
Liabilities assumed from unconsolidated joint ventures	0	1,868	0	0	—
Mortgage note payable assumed by buyer	317	0	0	—	—

Filings

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Frequently asked questions

What is MACERICH CO's CIK number?

MACERICH CO's SEC CIK number is 0000912242 (912242). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find MACERICH CO's SEC filings?

All of MACERICH CO's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did MACERICH CO last report earnings?

MACERICH CO (MAC) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000912242-26-000020). This is MACERICH CO's most recent earnings filing of record — not a forecast of its next earnings date.

What is MACERICH CO's most recent earnings 8-K?

MACERICH CO's latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0000912242-26-000020. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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