secwatch.observer — SEC 8-K summary
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Issuer:     MACERICH CO (MAC)
CIK:        0000912242
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0000912242-23-000019
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Macerich Q2 net loss $15M; same center NOI up 5.6%; FFO $0.40/share, guidance narrowed
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- Q2 net loss $15M ($0.07/diluted) vs $15.4M loss; FFO ex-Chandler Freehold $88.7M ($0.40) down from $102.9M ($0.46).
- Same center NOI (ex-lease term income) +5.6% YoY; occupancy 92.6% (up 0.8pp YoY, 0.4pp QoQ).
- Re-leasing spreads 11.3%; signed 191 leases for 1.4M sq ft in Q2 (+21% sq ft YoY).
- 2023 guidance narrowed: FFO per share $1.77-$1.83 (midpoint unchanged); EPS ($0.32)-($0.26). Dividend $0.17/share.
- Liquidity ~$565M (incl $405M revolver); sold two power centers for $29.1M; bought partner's interest in 5 Sears parcels for $46.7M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912242/000091224223000019/0000912242-23-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912242/000091224223000019/mac-20230808.htm
  HTML page:      https://secwatch.observer/filing/0000912242-23-000019

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer