Summary
M6G Chart
Macerich Q3 FFO & Revenues Miss Estimates, Occupancy Declines Y/Y
MAC posts a slight FFO miss in Q3 as higher interest costs ail, but strong leasing and rent growth highlight portfolio resilience.
The Macerich Company (MAC) Q3 2025 Earnings Call Transcript
The Macerich Company ( MAC ) Q3 2025 Earnings Call November 4, 2025 5:00 PM EST Company Participants Alexandra Johnstone Jackson Hsieh - President, CEO & Director Doug Healey - Senior EVP & Head of Leasing Daniel Swanstrom - CFO, Treasurer & Senior EVP Brad Miller - Senior Vice President of Asset Management Conference Call Participants Vince Tibone - Green Street Advisors, LLC, Research Division Samir Khanal - BofA Securities, Research Division Michael Griffin - Evercore ISI Institutional Equities, Research Division Linda Yu Tsai - Jefferies LLC, Research Division Floris Gerbrand Van Dijkum - Ladenburg Thalmann & Co. Inc., Research Division Ronald Kamdem - Morgan Stanley, Research Division Omotayo Okusanya - Deutsche Bank AG, Research Division Haendel St. Juste - Mizuho Securities USA LLC, Research Division Greg McGinniss - Scotiabank Global Banking and Markets, Research Division Todd Thomas - KeyBanc Capital Markets Inc., Research Division Alexander Goldfarb - Piper Sandler & Co., Research Division Craig Mailman - Citigroup Inc., Research Division Michael Mueller - JPMorgan Chase & Co, Research Division Caitlin Burrows - Goldman Sachs Group, Inc., Research Division Presentation Operator " Alexandra Johnstone " Jackson Hsieh President, CEO & Director " Doug Healey Senior EVP & Head of Leasing " Daniel Swanstrom CFO, Treasurer & Senior EVP " Brad Miller Senior Vice President of Asset Management " Vince Tibone Green Street Advisors, LLC, Research Division " Green Street Advisors, LLC, Research Division Samir Khanal BofA Securities, Research Division " BofA Securities, Research Division Michael Griffin Evercore ISI Institutional Equities, Research Division " Evercore ISI Institutional Equities, Research Division Linda Yu Tsai Jefferies LLC, Research Division " Jefferies LLC, Research Division Floris Gerbrand Van Dijkum Ladenburg Thalmann & Co. Inc., Research Division " Ladenburg Thalmann & Co. Inc., Research Division Ronald Kamdem Morgan Stanley, Research Division " Morgan Stanley, Research Division Omotayo Okusanya Deutsche Bank AG, Research Division " Deutsche Bank AG, Research Division Haendel
Macerich (MAC) Reports Q3 Earnings: What Key Metrics Have to Say
Although the revenue and EPS for Macerich (MAC) give a sense of how its business performed in the quarter ended September 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
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The Macerich Company Profile
| Retail REITs Industry | Real Estate Sector | Jackson Hsieh CEO | XMUN Exchange | US5543821012 ISIN |
| US Country | 615 Employees | 15 Dec 2025 Last Dividend | 9 Nov 2009 Last Split | 9 Mar 1994 IPO Date |
Overview
Macerich is a prominent real estate investment trust (REIT) that focuses on owning, operating, and developing high-quality retail real estate. Specializing in densely populated and attractive U.S. markets, the company’s invested interests mainly include California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. With a robust commitment to environmental sustainability, social responsibility, and exemplary corporate governance, Macerich stands as a notable leader in the retail sector. The company’s portfolio includes 47 million square feet of real estate, primarily encompassing 44 regional town centers. Macerich’s dedication to sustainability is recognized through its #1 Global Real Estate Sustainability Benchmark (GRESB) ranking in the North American retail sector for nine consecutive years, from 2015 to 2023, highlighting its commitment to advancing environmental and social goals within the industry.
Products and Services
Macerich offers a range of products and services that revolve around its core business of real estate investment, development, and management, specifically within the retail sector. The company's offerings can be broadly categorized into the following areas:
- Real Estate Investment: Macerich specializes in investing in high-quality retail properties located in densely populated and economically strong U.S. markets. The company's investment strategy focuses on properties that offer growth potential and the opportunity to create value for shareholders through active management and development.
- Retail Property Management: With expertise in operating and managing retail real estate, Macerich provides comprehensive property management services. These include leasing, maintenance, and enhancements to ensure the properties remain attractive to tenants and shoppers, fostering positive shopping experiences and maximizing occupancy rates.
- Real Estate Development: Macerich actively engages in the development and redevelopment of retail properties. By focusing on areas with strong market demand, the company seeks to enhance the value of its portfolio through strategic development projects. This not only includes the expansion and renovation of existing properties but also the development of new sites, aiming to serve as community cornerstones in their respective regions.
- Sustainability Initiatives: Emphasizing its commitment to environmental responsibility, Macerich has implemented several sustainability initiatives aimed at reducing its carbon footprint and promoting eco-friendly practices. These initiatives include energy efficiency improvements, water conservation measures, and waste reduction programs. Macerich’s leading position in sustainability is underscored by its top-ranking performance in the Global Real Estate Sustainability Benchmark (GRESB), reflecting its dedication to incorporating sustainable practices into its business operations.
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