Macerich Q2 net loss narrows, adjusted FFO rises
MAC•Outlook
- Company says focus is on converting signed leases to open, rent-paying tenants to drive growth.
- Macerich expects strong retailer demand due to limited new supply of regional malls.
- Company says acquisition pipeline is robust and expects to use liquidity for future deals.
Result drivers
- Leasing activity - Co said increased leasing, with 1.3 million sq ft of leases signed and a 2% year over year rise in occupancy, supported NOI growth.
- Sales productivity - Co said portfolio tenant sales per square foot rose to $919 for the twelve months ended June 30, 2026, up from $849 a year earlier.
- Limited new supply - Co said scarcity of space in supply-constrained markets and demand from strong retailers supported results.
Quarterly results
- U.S. retail real estate REIT's Q2 net loss narrowed year over year, helped by a gain on asset sales.
- Adjusted FFO for Q2 rose year over year.
- Company's go-forward portfolio NOI grew 3.8%, and occupancy and leasing activity improved.
