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Macerich (MAC) Beats on Q2 FFO, Revenues Estimates
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Have you been eager to see how The Macerich Company (MAC - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Santa Monica, CA-based, retail real estate investment trust’s (“REIT”) earnings release this morning:
Macerich came out with adjusted funds from operations (“FFO”) per share of $1.02, up from that of year-ago quarter figure of 97 cents. The Zacks Consensus Estimate for the quarter was 97 cents.
How Was the Earnings Surprise Trend?
Before Q2 earnings beat, the company delivered positive surprises on all the four trailing quarters. In the preceding quarter, the company posted positive surprise of 3.5%. Overall, the company recorded positive average surprise of 3.7% in the trailing four quarters, prior to this earning.
Revenue Beat
Macerich posted revenues of $259.9 million, surpassing the Zacks Consensus Estimate $241 million. However, the year-ago quarter revenue figure was of $323 million.
Key Developments to Note
For the year ending on Jun 30, 2016, releasing spread grew 16.1%. During the reported quarter, same center net operating income grew 6.5%. Macerich has reaffirmed the FFO per share guidance range for 2016 guidance range of $4.05–$4.15.
What Zacks Rank Says
Macerich currently has a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Macerich earnings report later!
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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Macerich (MAC) Beats on Q2 FFO, Revenues Estimates
Have you been eager to see how The Macerich Company (MAC - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Santa Monica, CA-based, retail real estate investment trust’s (“REIT”) earnings release this morning:
Macerich came out with adjusted funds from operations (“FFO”) per share of $1.02, up from that of year-ago quarter figure of 97 cents. The Zacks Consensus Estimate for the quarter was 97 cents.
How Was the Earnings Surprise Trend?
Before Q2 earnings beat, the company delivered positive surprises on all the four trailing quarters. In the preceding quarter, the company posted positive surprise of 3.5%. Overall, the company recorded positive average surprise of 3.7% in the trailing four quarters, prior to this earning.
Revenue Beat
Macerich posted revenues of $259.9 million, surpassing the Zacks Consensus Estimate $241 million. However, the year-ago quarter revenue figure was of $323 million.
Key Developments to Note
For the year ending on Jun 30, 2016, releasing spread grew 16.1%. During the reported quarter, same center net operating income grew 6.5%. Macerich has reaffirmed the FFO per share guidance range for 2016 guidance range of $4.05–$4.15.
What Zacks Rank Says
Macerich currently has a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now, it all depends on what sense the just-released report makes to the analysts.
MACERICH CO Price and EPS Surprise
MACERICH CO Price and EPS Surprise | MACERICH CO Quote
Check back later for our full write up on this Macerich earnings report later!
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>