Published on 1 May 2024 on Zacks via Yahoo Finance
Macerich (MAC) Stock Declines on Q1 FFO Miss, Revenues Fall Y/Y
Shares of The Macerich Company MAC have lost 14.05% in the Apr 30 regular trading session on the NYSE after it reported funds from operations (FFO) per share, excluding financing expense in relation to Chandler Freehold, of 31 cents, missing the Zacks Consensus Estimate of 39 cents. Moreover, the figure declined 22.5% from the year-ago quarter’s 40 cents.
The results reflected a year-over-year fall in quarterly revenues. This retail REIT also experienced a decline in same-center net operating income (NOI), including lease termination income, from the prior-year period.