Macerich Co. (MAC) Misses Q1 EPS by 4c

Macerich Co. (NYSE: MAC) reported Q1 EPS of $0.81, $0.04 worse than the analyst estimate of $0.85.

Macerich Co. sees FY2014 EPS of $3.50-$3.60, versus the consensus of $3.57.

Commenting on the quarter, Arthur Coppola chairman and chief executive officer of Macerich stated, "It was another good quarter for us. Our operating fundamentals remained strong, with continued occupancy gains and positive double digit releasing spreads. In addition, consistent with our strategy of disposing of non-core assets and redeploying the capital into our redevelopment pipeline, we sold an additional three non-core malls during the first quarter."

For earnings history and earnings-related data on Macerich Co. (MAC) click here.

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