The Macerich Company Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2021
February 10, 2022 at 05:31 pm IST
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The Macerich Company reported earnings results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter, the company reported sales was USD 213.89 million compared to USD 185.34 million a year ago. Revenue was USD 229.4 million compared to USD 194.64 million a year ago. Net loss was USD 17.07 million compared to USD 190.42 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 1.27 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to USD 1.27 a year ago.
For the full year, sales was USD 787.55 million compared to USD 740.32 million a year ago. Revenue was USD 847.44 million compared to USD 786.03 million a year ago. Net income was USD 14.26 million compared to net loss of USD 230.2 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to basic loss per share from continuing operations of USD 1.58 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to diluted loss per share from continuing operations of USD 1.58 a year ago.
The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company conducts its operations through The Macerich Partnership, L.P. (the Operating Partnership). The Company is focused on the acquisition, ownership, development, redevelopment, management, and leasing of regional and community/power shopping centers located throughout the United States. The Company, through its operating partnership, owns ownership interests in approximately 46 million square feet of real estate, consisting primarily of 43 regional town centers, three community/power shopping centers and one redevelopment property. The property management, leasing and redevelopment of the Company's portfolio is provided by the Company's management companies, including Macerich Property Management Company, LLC, Macerich Management Company, Macerich Arizona Partners LLC, Macerich Arizona Management LLC, MACW Mall Management, Inc., and MACW Property Management, LLC.