MAC - Macerich Earnings: Another Strong Quarter
Since early 2021, Macerich (NYSE: MAC) has made a steady recovery from the initial damage of the COVID-19 pandemic. The mall owner's net operating income (NOI) has bounced back along with occupancy and lease rates. Meanwhile, Macerich has gradually improved its balance sheet.
Last Thursday, Macerich reported yet another quarter of solid growth in same-center NOI. It also raised its full-year guidance for adjusted funds from operations ( FFO ) and same-center NOI.
Despite this momentum, Macerich stock has lost a little more than half of its value since hitting a 52-week high last November. That fear-driven pullback has created a great buying opportunity for patient investors.
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Macerich Earnings: Another Strong Quarter