SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) November 8, 2005

THE MACERICH COMPANY

(Exact Name of Registrant as Specified in its Charter)

401 Wilshire Boulevard, Suite 700, Santa Monica, California 90401

(Address of principal executive office, including zip code)

Registrant’s telephone number, including area code (310) 394-6000

N/A

(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

The Company issued a press release on November 8, 2005, announcing results of operations for the Company for the quarter ended September 30, 2005 and such press release is furnished as Exhibit 99.1 hereto and is hereby incorporated by reference in its entirety.

The press release included as an exhibit with this report is being furnished pursuant to Item 7.01 and Item 2.02 of Form 8-K.

ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS.

Listed below are the financial statements, pro forma financial information and exhibits furnished as part of this report:

(a), (b) Not applicable.

(c) Exhibits.

Exhibit Index attached hereto and incorporated herein by reference.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, The Macerich Company has duly caused this report to be signed by the undersigned, hereunto duly authorized, in the City of Santa Monica, State of California, on November 8, 2005.

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EXHIBIT INDEX

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Exhibit 99.1

PRESS RELEASE

MACERICH ANNOUNCES 9% INCREASE IN FFO PER SHARE

Santa Monica, CA (11/8/05) - The Macerich Company (NYSE Symbol: MAC) today announced results of operations for the quarter and nine months ended September 30, 2005 which included funds from operations (“FFO”) per share — diluted increasing 9% to $1.04 compared to $.95 for the quarter ended September 30, 2004 and increasing to $3.03 for the nine months ended September 30, 2005 compared to $2.73 for the comparable period in 2004. Total FFO — diluted increased by 11% to $81 million for the quarter compared to $72.9 million for the quarter ended September 30, 2004 and to $234 million for the nine months ended September 30, 2005 compared to $210 million for the comparable period in 2004.  The Company’s definition of FFO is in accordance with the definition provided by the National Association of Real Estate Investment Trusts (“NAREIT”). A reconciliation of net income per common share-diluted (“EPS”) to FFO per share-diluted is included in the financial tables accompanying this press release.

Net income available to common stockholders for the quarter ended September 30, 2005 was $4.1 million or $.07 per share-diluted compared to $17.3 million or $.29 per share-diluted for the quarter ended September 30, 2004.  For the nine months ended September 30, 2005 net income available to common stockholders was $29 million or $.49 per share-diluted compared to $53 million or $.89 per share-diluted for the nine months ended September 30, 2004.  A reconciliation of net income to FFO is included in the financial highlights section of this press release.

Recent highlights:

•                  During the quarter, Macerich signed 355,000 square feet of specialty store leases at average initial rents of $37.20 per square foot.  First year rents on mall and freestanding store leases signed during the quarter were 22% higher than average expiring rents.

•                  This quarter’s FFO per diluted share increased 9% to $1.04 from $.95 for the quarter ended September 30, 2004.

•                  Total same center tenant sales, for the quarter ended September 30, 2005, were up 7.0% compared to sales levels for the quarter ended September 30, 2004.

•                  Portfolio occupancy at September 30, 2005 was 93.4% compared to 91.8% at September 30, 2004.  On a same center basis occupancy increased to 92.9% at September 30, 2005 compared to 92.4% at September 30, 2004.

•                  Same center earnings before interest, taxes, depreciation and amortization were up 3.6% compared to the quarter ended September 30, 2004.

Commenting on results, Arthur Coppola president and chief executive officer of Macerich stated, “The quarter was highlighted by another quarter of solid growth in FFO per share.  We continue to see strong fundamentals in our business with very strong occupancy levels and leasing activity combined with solid tenant sales increases that year to date have exceeded 6.5%.  Our substantial redevelopment and development pipelines continue to progress well and we expect them to fuel our FFO growth in the years to come.  An example of this is the $135 million expansion of Tysons Corner Center that was completed in late September where we will see the economic benefit starting in the fourth quarter.”

Redevelopment and Development Activity

At Washington Square in suburban Portland, the Company is completing a lifestyle oriented expansion project which consists of the addition of 76,000 square feet of shop space.  The expansion is underway with the grand opening of the expansion scheduled for November 18, 2005. New tenants include Cheesecake Factory, Pottery Barn Kids, Williams-Sonoma, Bebe, Godiva and Papyrus.  In addition, an agreement has been reached with Mervyn’s to recapture their 100,000 square foot location and recycle that square footage over the next two years.

At Fresno Fashion Fair, an 87,000 square foot lifestyle center expansion to the existing mall continues on schedule with sections opening in the fourth quarter 2005 and final completion expected in spring 2006. Illustrative new tenants in the expansion include Anthropologie, Bebe, Bebe Sport, Cheesecake Factory, Chico’s, Fleming’s Steakhouse and Lucky Brand Jeans.

Now under construction on the site of the former Crossroads Mall, Twenty Ninth Street will be an outdoor retail development on 62 acres in the heart of Boulder.  Five new merchants were recently named for Twenty Ninth Street, including Puma, J.Jill, Ann Taylor Loft, Acorn and Francesca’s Collection joining anchors Macy’s department store, Wild Oats, Home Depot, and Century Theatres and an array of specialty stores and restaurants. Twenty Ninth Street is scheduled to open in fall 2006.

The 364,000 square foot expansion of the recently acquired Tysons Corner Center opened on September 29, 2005.  The expansion is currently 97% leased.  Included in the expansion is a 105,000 square foot, state of the art, 16-screen AMC theatre complex, five exclusive restaurants including Coastal Flats, Brio Tuscan Grille, Pauli Moto’s Asian Bistro, Gordon Biersch, and T.G.I. Friday’s.  In addition, the expansion features a two-level, 33,700 square foot Barnes & Noble and a 10-unit 800 seat food court. Notable tenants include Z Gallerie, West Elm, H by Tommy Hilfiger, Banana Republic Petites, Esprit, Sony Style, The North Face, Urban Outfitters, Guess, Mexx, Lucky Brand Jeans, Free People and Oakley.  Also at Tysons Corner Center, the entitlement process is underway to further expand the project with the addition of approximately 3 million square feet of office, residential and mixed use high-rise development.

Construction will begin in the first quarter of 2006 on the SanTan Village regional shopping center in Gilbert, Arizona.  The center is an outdoor open air streetscape project planned to contain in excess of 1.5 million square feet on 120 acres.  The center will be anchored by Dillard’s, Harkins Theatres and will contain a lifestyle shopping district featuring retail, office, residential and restaurants.  It is also anticipated that an additional department store will also anchor this center.  The project is scheduled to open in phases starting in fall 2007 with all phases completed by 2008.

Plans for Estrella Falls, a major regional shopping center and mixed use project, have been accelerated.  The project is located on approximately 300 acres in Goodyear, Arizona.  The Company will develop the regional mall, which will consist of approximately 1.2 million square feet, and will co-develop associated commercial uses surrounding the shopping center.  The first phase of this project is anticipated to open in 2008 with completion of the mall in 2009.

Financing Activity

The Company has refinanced the mortgage on Flagstaff Mall.  The former mortgage of $13 million with interest at 7.8% was replaced with a $37 million 10-year fixed rate loan bearing interest at 4.97%.

The $72 million loan secured by Greece Ridge Mall in Rochester, New York is being refinanced with a drop in the interest rate from LIBOR plus 2.625% down to LIBOR plus .65%, nearly a 198 basis point reduction.  The transaction is expected to close in November.

The $30.6 million mortgage on Camelback Colonnade was refinanced with a $41.5 million 5-year loan bearing interest at LIBOR plus .69%.

A $56 million loan was placed on Scottsdale 101 and the proceeds were used to pay off the $40 million construction loan.  The new loan reduced the interest rate by 75 basis points to LIBOR plus 1.25%.

Earnings Guidance

Management is tightening its previously issued guidance range for 2005 FFO per share and modifying its guidance for EPS.

 Guidance for 2005 and reconciliation of EPS to FFO per share and to EBITDA per share:

The guidance is based on a large number of assumptions and management’s current view of the current market conditions in the regional mall business.  Due to the uncertainty in the timing and economics of acquisitions and dispositions, the guidance ranges do not include any potential property acquisitions or dispositions other than those that have closed or are under contract as of November 8, 2005.  The Company is not able to assess at this time the potential impact of such exclusions on future EPS and FFO.  FFO does not include gains or losses on sales of depreciated operating assets.

The Macerich Company is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.  The Company is the sole general partner and owns an 82% ownership interest in The Macerich Partnership, L.P.  Macerich now owns approximately 79 million square feet of gross leaseable area consisting primarily of interests in 75 regional malls.  Additional information about The Macerich Company can be obtained from the Company’s web site at www.macerich.com.

Investor Conference Call

The Company will provide an online Web simulcast and rebroadcast of its quarterly earnings conference call.  The call will be available on The Macerich Company’s website at www.macerich.com and through CCBN at www.earnings.com.  The call begins today, November 8, 2005 at 10:30 AM Pacific Time. To listen to the call, please go to any of these web sites at least 15 minutes prior to the call in order to register and download audio software if needed. An online replay at www.macerich.com will be available for one year after the call.

Note:  This release contains statements that constitute forward-looking statements. Stockholders are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to vary materially from those anticipated, expected or projected.  Such factors include, among others, general industry, economic and business conditions, which will, among other things, affect demand for retail space or retail goods, availability and creditworthiness of current and prospective tenants, anchor or tenant bankruptcies, closures, mergers or consolidations, lease rates and terms, interest rate fluctuations, availability and cost of financing and operating expenses; adverse changes in the real estate markets including, among other things, competition from other companies, retail formats and technology, risks of real estate development and redevelopment, acquisitions and dispositions; governmental actions and initiatives (including legislative and regulatory changes); environmental and safety requirements; and terrorist activities which could adversely affect all of the above

factors.  The reader is directed to the Company’s various filings with the Securities and Exchange Commission, for a discussion of such risks and uncertainties.

(See attached tables)

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THE MACERICH COMPANY

FINANCIAL HIGHLIGHTS

(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

(f)  excludes redevelopment properties-  29th Street Center, Parklane Mall, Santa Monica Place

(g)  includes mall and freestanding stores.

(h)  includes construction in process on wholly owned assets of $146,054 at September 30, 2005 and $88,228 at December 31, 2004.

(i)  includes the Company’s prorata share of construction in process on unconsolidated entities of $97,020 at September 30, 2005 and $32,047 at December 31, 2004.