REIT Macerich Q3 net loss narrows on higher leasing activity

The Macerich

04/11/2025 22:07

Overview

Macerich Q3 net loss of $87.4 mln, improved from $108.2 mln last year

FFO excluding certain expenses rose to $93.4 mln from $86.0 mln last year

Company signed leases for 1.5 mln sq ft, 81% increase from last year

Outlook

Company did not provide specific guidance for future quarters or full year

Result Drivers

ASSET SALES - Gains from sales of Lakewood Center and Atlas Park contributed to reduced net loss

LEASING ACTIVITY - Signed leases for 1.5 mln sq ft, an 81% increase from last year

TENANT SALES - Sales per square foot for spaces under 10,000 sq ft increased to $905

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Income
-$87.40 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 7 "hold" and 3 "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 $19.00, about 8.7% above its November 3 closing price of $17.34

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(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.)