Mall REIT Macerich beats loss expectations but misses on FFO and revenue, as 9 California malls were re-closed
Shares of Macerich Co.
rose 1.8% in premarket trading Tuesday, after the real estate investment trust focused on shopping centers reported a narrower-than-expected net loss but second-quarter FFO and revenue that missed forecasts, as nine California malls were re-closed during the quarter as a result of a resurgence of COVID-19. The company swung to a net loss of $25.1 million,or 18 cents a share, from net income of $15.7 million, or 11 cents a share, in the year-ago period. Th…