Macerich Company Issues Earnings Guidance - Quick Facts

(RTTNews) - The Macerich Company (MAC) announced, for 2017, the company expects: EPS in a range of $1.26 - $1.36; and FFO per share in a range of $3.90 - $4.00. The company noted that the guidance included $0.08 of dilution from the January 2017 sale of Northgate Mall, Cascade Mall and one additional non-core asset that is currently under contract.

The Macerich Company reported fourth-quarter net income attributable to the company of $37.1 million or $0.26 per share compared to $415.0 million or $2.65 per share, prior year. Included in net income in the fourth quarter of the 2015 results is a $311 million or $1.86 per share gain on selling joint venture interests in four malls. For the fourth quarter, 2016, funds from operations was $180.6 million or $1.17 per share compared to $186.4 million or $1.12 per share, prior year.

Fourth-quarter total revenues decreased to $272.00 million from $320.76 million, a year ago. Mall portfolio occupancy was 95.4% at December 31, 2016 compared to 96.1% at December 31, 2015.