Macerich Reports $108 Million FFO (MAC)

Santa Monica, California-based Macerich Company MAC on Tuesday morning released financial results. Macerich Company reported that its 4th quarter total funds from operations ("FFO") of $108.9 million, or 77 cents per share, down from $92.7 million, or 90 cents per share, a year earlier. Macerich Company reported revenue of $203.89 million, up from $201.28 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 78 cents per share, on revenue of $194.14 million. The company is issued 2011 FFO earnings guidance in a range from $2.78 to $2.94 per share. Macerich Company (MAC) ended the previous trading session at $48.79 per share. Analysts covering the company's stock have a consensus price target of $49.23 per share. Macerich Company is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Read more from Benzinga's Company news.