Macerich Q1 Loss Sharply Widens; Withdraws FY24 Outlook

RTTNews | vor 566 Tagen
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 | vor 1208 Tagen
Little Movement Seen For Malaysia Stock Market

Little Movement Seen For Malaysia Stock Market

The Malaysia stock market has alternated between positive and negative finishes through the last four trading days since the end of the three-day winning streak in which it had risen more than 15 points or 1 percent. The Kuala Lumpur Composite Index now sits just above the 1,625-point plateau and it's likely to remain rangebound again on Tuesday.
RTTNews | vor 1Std 4 Minuten
Continued Consolidation Called For Japan Stock Market

Continued Consolidation Called For Japan Stock Market

The Japan stock market has finished lower in back-to-back sessions, shedding more than 940 points or 1.9 percent along the way. The Nikkei 225 now rests just above the 50,320-point plateau and it's expected to open under pressure again on Tuesday.
RTTNews | vor 1Std 19 Minuten
Soft Start Expected For South Korea Shares

Soft Start Expected For South Korea Shares

The South Korea stock market bounced higher again on Monday, one session after ending the four-day winning streak in which it had surged almost 220 points or 5.5 percent. The KOSPI sits just beneath the 4,090-point plateau although it's expected to turn lower again on Tuesday.
RTTNews | vor 1Std 34 Minuten
RBA Minutes On Tap For Tuesday

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its monetary policy meeting on November 4, highlighting a light day for Asia-Pacific economic activity.
RTTNews | vor 2Std 4 Minuten
Swiss Market Ends Modestly Lower

Swiss Market Ends Modestly Lower

After staying a bit positive early on in the session on Monday, the Switzerland market slipped and languished in negative territory till the end of the day's session as the mood remained cautious with investors looking for directional clues.
RTTNews | vor 5Std 37 Minuten
European Stocks Close Lower After Cautious Session

European Stocks Close Lower After Cautious Session

European stocks closed weak on Monday as investors largely stayed cautious, looking for fresh data for directional clues. Worries about Artificial Intelligence bubble, and uncertainty about monetary policy moves by major central banks including the Federal Reserve weighed on stocks.
RTTNews | vor 6Std 10 Minuten