Macerich Q4 net loss narrows to $0.08 per share; same-center NOI up 36.1%

MACERICH CO

2021-FY EPS reported $0.07 revenue$847,437,000

Net loss attributable to Macerich was $17.1M ($0.08/diluted share) vs. $190.4M loss ($1.27) in Q4 2020.
FFO (ex-certain items) was $118.7M, or $0.53 per share-diluted, up from $72.9M ($0.45) a year ago.
Portfolio occupancy rose to 91.5% at Dec 31, 2021, from 89.7% a year ago; Q4 tenant sales +12% vs pre-COVID Q4 2019.
Full-year 2021 same-center NOI increased 7.3%; 2022 FFO per share guidance set at $1.85-$2.05.
Declared quarterly dividend of $0.15/share payable March 3, 2022; repaid $1.7B debt in 2021 (20% reduction).

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