Macerich Q2 net loss narrows to $27.1M; FFO as adjusted $0.35; acquires Annapolis Mall for $260M

MACERICH CO

Net loss attributable to company $27.1M ($0.10 diluted) vs $40.9M loss in Q2 2025; FFO as adjusted $100.4M ($0.35) vs $88.7M ($0.34).
Go-Forward Portfolio NOI (ex lease term) up 3.8% YoY; leased occupancy 94.0% vs 92.0% a year ago.
Acquired Annapolis Mall for $260M plus $12M for adjacent parcel; funded via equity raise.
Closed public offering of 22.08M shares at $21.00, net $448.2M; also forward offering of 16.1M shares at $23.90.
Quarterly dividend $0.17 per share, payable Sept 28, 2026.

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