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Dec 31, 2023
Macerich Q4 2023 Earnings Report
Macerich's portfolio occupancy improved, reaching 93.5%, with same-center NOI increasing by 3.0%, and net income attributable to the company was $62.2 million.
Key Takeaways
Macerich reported a strong Q4 2023, marked by increased occupancy, same-center NOI growth, and significant progress in managing near-term debt maturities through refinancing and disposition activities. The company also issued its 2024 earnings guidance.
Net income attributable to the Company was $62.2 million, or $0.29 per share-diluted.
FFO, excluding specific financial adjustments, was $126.5 million, or $0.56 per share-diluted.
Same center NOI, excluding lease termination income, increased 3.0%.
Portfolio occupancy was 93.5%, up 0.9% year-over-year.
Forward Guidance
Macerich issued its 2024 guidance for both estimated EPS-diluted and FFO per share-diluted, excluding financing expense in connection with Chandler Freehold and accrued default interest expense.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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