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Macerich Q1 FFO, Revenue Slide

05/11/2021 04:19

08:14 AM EDT, 05/11/2021 (MT Newswires) -- Macerich (MAC) reported Q1 funds from operations Tuesday of $0.45 per diluted share, compared with $0.81 a year earlier, excluding financing expense in connection with Chandler Freehold. Analysts polled by Capital IQ had called for $0.45.

The shopping center real estate investment trust also reported revenue for the quarter ended March 31 of $190.4 million, down from $227 million. Five out of eight analysts polled by Capital IQ expected $187.4 million.

The company said it anticipates full-year 2021 funds from operations of $1.77 to $1.97 per diluted share. Analysts polled by Capital IQ expect $1.82.

Shares of the Santa Monica, Calif.-based company slumped as much as 4% in recent premarket activity Tuesday.

Price: 13.62, Change: -0.58, Percent Change: -4.08