![]() ![]() SPG's results reflect better-than-anticipated revenues on healthy leasing activity and a rise in base rent per square foot and occupancy levels. The figure, however, compared favorably with the year-ago quarter’s $2.70. Simon Property Group, Inc.’s ( SPG Quick Quote SPG - Free Report) first-quarter 2023 FFO per share of $2.74 missed the Zacks Consensus Estimate of $2.80. Macerich Company (The) price-consensus-eps-surprise-chart | Macerich Company (The) Quote Performance of Other REITs Macerich Company (The) Price, Consensus and EPS Surprise You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate for the same is currently pegged at $1.80, which lies within the guided range.Ĭurrently, Macerich carries a Zacks Rank #3 (Hold). The company maintained its 2023 FFO per share (excluding financing expenses in relation to Chandler Freehold) guidance in the range of $1.75-$1.85. This included $475 million of available capacity on its $525 million revolving line of credit. Balance SheetĪs of May 4, 2023, MAC had around $645 million of liquidity. ![]() Same-center NOI, including lease termination income, decreased 1.4% year over year to $192 million. On a comparable center basis, this reflected a 59% increase in the amount of square footage leased and a 20% rise in the number of deals signed year over year.Īs of Mar 31, 2023, portfolio occupancy was 92.2%, up from 91.3% on Mar 31, 2022.įor the 12 months ended Mar 31, 2023, re-leasing spreads were 6.6% more than the expiring base rent. The portfolio tenant sales per square foot for spaces less than 10,000 square feet in the trailing 12 months ended Mar 31, 2023, came in at $866 compared with $843 for the same period ended Mar 31, 2022.ĭuring the reported quarter, Macerich signed 256 leases encompassing 949,000 square feet. Nonetheless, the figure outpaced the Zacks Consensus Estimate of $213.8 million and our estimate of $210.8 million. Quarterly revenues of $214.9 million were lower than the year-ago quarter’s $216.1 million. This retail REIT also experienced a decline in same-center net operating income (NOI), including lease termination income, from the prior-year period. The results reflected a year-over-year fall in quarterly revenues. Moreover, the figure declined 20% from the year-ago quarter’s 50 cents. Shares of The Macerich Company ( MAC Quick Quote MAC - Free Report) lost 3.02% in the May 4 regular trading session on the NYSE after it reported funds from operations (FFO) per share, excluding financing expenses in relation to Chandler Freehold, of 40 cents, missing the Zacks Consensus Estimate and our estimate by a penny. ![]()
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