Macerich Q2 net loss narrows, adjusted FFO rises

The Macerich

04/08/2026 21:49

Overview
U.S. retail real estate REIT's Q2 net loss narrowed yr/yr, helped by gain on asset sales
Adjusted FFO for Q2 rose yr/yr
Company's go-forward portfolio NOI grew 3.8%, occupancy and leasing activity improved

Outlook
Company says focus is on converting signed leases to open, rent-paying tenants to drive growth
Macerich expects strong retailer demand due to limited new supply of regional malls
Company says acquisition pipeline is robust and expects to use liquidity for future deals

Result Drivers
LEASING ACTIVITY - Co said increased leasing, with 1.3 mln sq ft of leases signed and a 2% yr/yr rise in occupancy, supported NOI growth
SALES PRODUCTIVITY - Co said portfolio tenant sales per square foot rose to $919 for the twelve months ended June 30, 2026, up from $849 a year earlier
LIMITED NEW SUPPLY - Co said scarcity of space in supply-constrained markets and demand from strong retailers supported results

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Loss attributable to the company
 
$27.1 mln
 
Q2 Adjusted FFO
 
$100.4 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 5 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy"
Wall Street's median 12-month price target for Macerich Co is $27.00, about 4.4% above its August 3 closing price of $25.87

Reuters Recommended Reads
Aug 3 - Armada Hoffler Q2 revenue up on portfolio NOI growth; raises 2026 FFO outlook
Aug 4 - Kimco Realty lifts annual profit forecast, beats quarterly revenue estimates on strong leasing demand
Aug 3 - SITE Centers posts Q2 net loss as property sales weigh on results

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)