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Mar 31, 2020
Macerich Q1 2020 Earnings Report
Macerich announced results of operations for the quarter ended March 31, 2020, which included net income attributable to the Company of $7.5 million or $.05 per share-diluted.
Key Takeaways
Macerich reported a net income of $7.5 million, or $0.05 per share-diluted, for the quarter ended March 31, 2020. Mall portfolio occupancy stood at 93.1% at the end of the quarter. The company is actively planning for the re-opening of its real estate.
Mall tenant annual sales per square foot increased by 7.4% to $801 for the twelve months ended February 29, 2020.
Mall portfolio occupancy was 93.1% at March 31, 2020.
Re-leasing spreads for the twelve months ended March 31, 2020 were up 6.5%.
Leasing volumes remained strong during the first quarter, with nearly 200 leases signed for 739,000 square feet totaling $38 million of rent.
Forward Guidance
Given the complex and rapidly evolving circumstances surrounding the Covid-19 pandemic, the Company withdrew its previously published 2020 Guidance, and is not providing an updated outlook at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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