Macerich reported a Q4 2025 net loss attributable to shareholders of USD 18.76 million (USD 0.07 per diluted share), compared with a larger loss in Q4 2024 that the company said was primarily driven by losses on sale or write-down of assets. Q4 total revenues were USD 261.70 million, including leasing revenue of USD 245.16 million, while FY 2025 total revenues were USD 1.01 billion (leasing revenue: USD 950.76 million). FY 2025 net loss attributable to shareholders was USD 197.15 million (USD 0.78 per diluted share). For Q4 2025, Macerich reported FFO of USD 125.39 million (USD 0.47 per share) and FFO excluding financing expense in connection with Chandler Freehold, accrued default interest expense and gain/loss on non-real estate investments of USD 128.91 million (USD 0.48 per share). FY 2025 FFO was USD 378.93 million (USD 1.43 per share), and FFO on the same adjusted basis was USD 396.97 million (USD 1.50 per share). FY 2025 Adjusted EBITDA was USD 741.95 million. Operationally, leased portfolio occupancy was 94.0% as of Dec. 31, 2025 (Go-Forward Portfolio: 94.9%). Tenant sales per square foot (spaces under 10,000 sq. ft.) were USD 881 for the trailing 12 months ended Dec. 31, 2025 (Go-Forward Portfolio: USD 921). Go-Forward Portfolio Centers NOI excluding lease termination income increased 1.7% in Q4 2025 and 1.8% in FY 2025. On capital allocation, Macerich completed asset dispositions and loan give-backs totaling USD 1.27 billion at its share in FY 2025, including the sale of Lakewood Center for USD 332.10 million (company’s share) and Atlas Park for USD 36.00 million (company’s share). The company said it had about USD 990 million of liquidity as of the filing date, including USD 650 million of available capacity on its revolving credit facility, and announced a quarterly cash dividend of USD 0.17 per share payable March 30, 2026. Management said 2025 included USD 1.30 billion in dispositions completed and record comparable leasing volume, with 7.10 million square feet signed in FY 2025.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. The Macerich Company published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000912242-26-000009), on February 18, 2026, and is solely responsible for the information contained therein.
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