Macerich Revises 2021 Earnings Outlook- Quick Facts

(RTTNews) - Real estate investment trust Macerich Company (MAC) has revised its full-year outlook for earnings and FFO per share after reflecting the common stock sold to date, and the pending sale of 95% interest in Paradise Valley Mall.

Through March 25, 2021, the Company has sold 36 million common shares under its "at the market" equity program at $13.54 per share.

Macerich currently sees loss per share to be in the range of $0.73 - $0.53 in the full-year.

On average 9 analysts polled by Thomson Reuters expect the company to report loss of $0.69 per share for the period.

Full-year FFO per share is expected in the range of $1.77- $1.97.

Also, the comany said it has obtained commitments from its joint lead lenders, Deutsche Bank, JPMorgan, and Goldman Sachs for a new revolving line of credit and credit facility of between $600 million and $800 million.