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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.

For fiscal 2022, the company now projects a loss in a range of $0.21 to $0.09 per share and FFO in a range of $1.92 to $2.04 per share.

Previously, the company expected loss in the range of $0.17 to $0.03 per share and FFO in the range of $1.90 to $2.04 per share.

On average, analysts polled by Thomson Reuters expect the company to report a loss of $0.19 per share on revenues of $824.61 million for the year. Analysts' estimates typically exclude special items.

On July 20, 2022, the company declared a quarterly cash dividend of $0.15 per share of common stock, payable on September 8, 2022 to stockholders of record at the close of business on August 19, 2022.

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