Quarterly ResultMay 6, 2026, 04:22 PM
Macerich Q1 Net Loss $(36.4)M; FFO $0.34/Share; Acquires Annapolis Mall
AI Summary
Macerich reported a net loss attributable to the company of $(36.4) million, or $(0.14) per diluted share, for Q1 2026, an improvement from $(50.1) million in Q1 2025. Adjusted Funds from Operations (FFO) remained flat at $0.34 per diluted share, totaling $92.4 million. The company acquired Annapolis Mall for $272 million and announced a quarterly cash dividend of $0.17 per share. Additionally, Macerich extended a $200 million loan, amended its $900 million revolving credit facility, repaid a $211.5 million loan, and sold $14.5 million in outparcels and land.
Key Highlights
- Net loss attributable to Macerich was $(36.4) million, or $(0.14) per share-diluted, for Q1 2026.
- Adjusted Funds from Operations (FFO) was $92.4 million, or $0.34 per share-diluted for Q1 2026.
- Acquired Annapolis Mall for $260 million, plus an adjacent 13.1-acre parcel for $12 million.
- Declared a quarterly cash dividend of $0.17 per share of common stock.
- Amended and restated its revolving credit facility, increasing it from $650 million to $900 million.
- Repaid the outstanding balance of $211.5 million on the Vintage Faire Mall loan.
- Completed outparcel and land sales totaling $14.5 million.
- Sold approximately 4.5 million shares for $85.6 million gross proceeds through its ATM program.