Macerich Q4 FFO Drops, Net Loss Narrows Amid Weak Revenues

(RTTNews) - Real estate investment trust Macerich Co. (MAC) posted lower funds from Operations or FFO in its fourth quarter amid weak revenues. Net loss was narrower than last year.

In the fourth quarter, FFO was $125.39 million or $0.47 per share, lower than last year's $126.21 million or $0.51 per share.

Adjusted FFO was $128.91 million or $0.48 per share, compared to $116.67 million or $0.47 per share last year.

Net loss attributable to the company was $18.76 million or $0.07 per share, narrower than loss of $211.21 million or $0.89 per share a year ago.

Total revenues declined to $261.70 million from $273.68 million in the prior year.

In the after-hours trading on the NYSE, the shares lost 1.72 percent, after closing Wednesday's regular trading 1.92 percent higher at $19.15.

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