Macerich Q4 2019 Earnings Report
Key Takeaways
Macerich announced net income attributable to the Company of $26.9 million, or $0.19 per share-diluted, for the quarter ended December 31, 2019. Mall portfolio occupancy was 94.0% at December 31, 2019. Average rent per square foot increased 3.3% to $61.06 at December 31, 2019.
Mall tenant annual sales per square foot for the portfolio increased by 10.3% to $801 for the twelve months ended December 31, 2019.
Mall portfolio occupancy was 94.0% at December 31, 2019.
Leasing volumes remain strong, with 2019 volume up nearly 20% over 2018 volume.
Average rent per square foot increased 3.3% to $61.06 at December 31, 2019.
Macerich
Macerich
Forward Guidance
The Company is providing its 2020 guidance for estimated EPS – diluted and FFO per share-diluted. Year 2020 Guidance EPS-diluted $ 0.33 - $0.43 Plus: real estate depreciation and amortization 3.15 - 3.15 Less: gain on sale of depreciable assets 0.08 - 0.08 FFO per share-diluted $ 3.40 - $3.50