secwatch.observer — SEC 8-K summary
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Issuer:     MACERICH CO (MAC)
CIK:        0000912242
Form:       8-K
Filed at:   2025-02-27T23:59:59+00:00
Accession:  0000912242-25-000021
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Macerich posts Q4 net loss of $211.2M, FFO per share down; executes $454M equity offering
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- Q4 2024 net loss of $211.2M ($0.89 diluted) vs net income of $62.2M ($0.29) in Q4 2023.
- Adjusted FFO per share fell to $0.47 from $0.57 YoY; same-center NOI declined 0.4% in Q4.
- Portfolio occupancy rose to 94.1% (up 60 bps YoY); trailing 12-month tenant sales $837/sq ft.
- Completed public offering of 23M shares at $19.75 for gross $454M; used proceeds to repay $478M Washington Square loan.
- Acquired partner's 40% interest in PPRT for $122M (7.4% cap rate); sold The Oaks for $157M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912242/000091224225000021/0000912242-25-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912242/000091224225000021/mac-20250227.htm
  HTML page:      https://secwatch.observer/filing/0000912242-25-000021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer