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Sep 30, 2020
Macerich Q3 2020 Earnings Report
Announced results of operations, which included a net loss attributable to the company.
Key Takeaways
Macerich reported a net loss of $22.2 million, or $0.15 per share-diluted, for the quarter ended September 30, 2020, compared to a net income of $46.4 million, or $0.33 per share-diluted, for the quarter ended September 30, 2019. FFO-diluted, excluding financing expense in connection with Chandler Freehold was $83.4 million or $0.52 per share-diluted compared to $133.2 million or $0.88 per share-diluted for the quarter ended September 30, 2019.
All properties in the portfolio have resumed operations as of October 7, 2020.
Rent collections continued to improve, with collection rates increasing to approximately 81% in October of 2020 and 80% in the third quarter of 2020, up from approximately 61% in the second quarter of 2020.
Mall portfolio occupancy, including closed centers, was 90.8% at September 30, 2020, compared to 91.3% at June 30, 2020.
Average rent per square foot increased 1.8% to $62.29 at September 30, 2020, compared to $61.16 at September 30, 2019.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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