Macerich Q3 FFO Rises - Quick Facts

(RTTNews) - The Macerich Co. (MAC) Monday said third-quarter funds from operations, or FFO, increased to $129.57 million or $0.86 per share from $112.90 million or $0.78 per share in the same period last year.

Adjusted FFO for the quarter was $129.6 million or $0.86 per share. On average, 19 analysts polled by Thomson Reuters expected the company to earn $0.83 per share for the quarter. Analysts' estimates typically exclude special items.

Earnings attributable to the company dropped to $38.1 million or $0.27 per share from $43.9 million or $0.33 per share last year.

Revenues increased to $269.08 million from $215.67 million last year. Analysts expected revenues of $241.21 million.

Looking ahead, the management has increased the mid-point of its previously issued estimated 2013 FFO guidance range by $0.06 per share, tightening the range to $3.46 to $3.52 per share. Analysts currently expect full-year FFO of $3.48 per share.