Macerich reports $0.35 adjusted FFO per share for Q2, exceeding analyst expectations amid rising occupancy and expense reductions.
Macerich (MAC) reported second-quarter adjusted funds from operations of $0.35 per share, surpassing consensus estimates as occupancy rates climbed and operating expenses declined. Revenue also exceeded forecasts, reflecting improved performance under its Path Forward Plan.
Analysts had anticipated weaker results, with prior quarter FFO at $0.32 per share. The company’s occupancy rate rose sequentially, while cost-cutting measures contributed to margin expansion. Year-over-year comparisons show steady recovery in retail real estate demand.
Shares showed modest gains in pre-market trading following the earnings release.