Macerich Q1 Loss Sharply Widens; Withdraws FY24 Outlook

RTTNews | 20 days ago
Macerich Q1 Loss Sharply Widens; Withdraws FY24 Outlook

(RTTNews) - REIT Macerich Co. (MAC) reported Tuesday that a net loss attributable to the company of $126.73 million or $0.59 per share, sharply wider than $58.73 million or $0.27 per share in the prior-year quarter.

Funds from operations or FFO were $74.60 million or $0.33 per share, compared to $95.92 million or $0.43 per share in the year-ago quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report a loss of $0.09 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter decreased to $208.78 million from $214.85 million in the same quarter last year. Analysts expected revenue of 205.11 million for the quarter.

Looking ahead, the company said it is withdrawing its 2024 guidance.

On Friday, the company declared a quarterly cash dividend of $0.17 per share of common stock, payable on June 3, 2024 to stockholders of record at the close of business on May 20, 2024.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
Macerich Sees Wider FY22 Loss - Update

Macerich Sees Wider FY22 Loss - Update

While reporting financial results for the second quarter on Thursday, REIT Macerich Co. (MAC) said it now sees a wider loss for the full year 2022. However, the company slightly raised its Funds from Operations (FFO) forecast.
RTTNews | 662 days ago
Asian Markets Trade Mostly Lower

Asian Markets Trade Mostly Lower

Asian stock markets are mostly lower on Tuesday, following the mixed cues from Wall Street overnight, amid lingering uncertainty about the outlook for interest rates, with some US Fed officials warning the central bank may still need to raise rates if inflation persists. Traders also seemed reluctant to make more significant bets ahead of the release of the minutes of the latest Fed meeting.
RTTNews | 5h 19min ago
Japanese Market Slightly Higher

Japanese Market Slightly Higher

Adding the gains in the previous session, the Japanese stock market is slightly higher on Tuesday, with the Nikkei 225 moving above the 39,100 level, following the mixed cues from Wall Street overnight, with gains in some Index heavyweights and technology stocks.
RTTNews | 6h 14min ago
Sensex, Nifty Seen Higher At Open

Sensex, Nifty Seen Higher At Open

Indian shares are seen opening flat to higher on Tuesday despite mixed global cues, elevated geopolitical tensions and lingering uncertainty over the timing and pace of Fed rate cuts.
RTTNews | 6h 16min ago
Thai Stock Market Called Higher On Tuesday

Thai Stock Market Called Higher On Tuesday

The Thai stock market on Monday ended the two-day winning streak in which it had picked up more than a dozen points or 0.9 percent. The Stock Exchange of Thailand now sits just beneath the 1,380-point plateau although it's expected to open to the upside on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with strength likely from the technology shares. The European markets were up and the U.S. bourses were mixed and the Asian markets are tipped to open to the upside.
RTTNews | 6h 39min ago
RBA Minutes: Inflation Slowing Less Than Expected

RBA Minutes: Inflation Slowing Less Than Expected

Members of the Reserve Bank of Australia's Monetary Policy Board said that the country's economy was slowing and that inflation was declining less than expected, minutes from the central bank's May 7 meeting revealed on Tuesday.
RTTNews | 6h 49min ago