Macerich Q2 AFFO Tops Estimate; Boosts FY13 FFO Outlook

(RTTNews) - Macerich Co. (MAC) reported net income for the second quarter of $219.0 million or $1.57 per share, compared to $133.4 million or $1.00 per share-for the year-ago quarter.

Adjusted funds from operations for the second quarter was $130.4 million or $0.87 per share, compared to $106.2 million or $0.74 per share in the prior year quarter.

Total revenue for the second quarter rose to $256.98 million from $195.66 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.81 per share on revenue of $265.51 million for the second quarter. Analysts' estimates typically exclude special items.

The company raised its previously issued estimated 2013 FFO per share-guidance range by $.03 per share to $3.38 to $3.48. Analysts currently expect the company to report FFO of $3.45 per share for the full year 2013.