UPDATE: Macerich Q4 Earnings Up 6.8%
Macerich Co (NYSE: MAC) reported a 6.8% rise in its fourth-quarter earnings.
Macerich expects 2013 funds from operations of $3.32 to $3.42 per share, versus analysts' estimates of $3.36 per share.
Macerich's quarterly profit surged to $174.2 million, or $1.27 per share, from $163.1 million, or $1.23 per share, in the year-ago period. Its funds from operations climbed to $0.90 from $0.83 per share.
Its revenue rose 20% to $251.2 million. However, analysts were expecting FFO of $0.87 per share on revenue of $221 million.
Macerich shares closed at $60.05 yesterday.
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