Malls (Short "A" Hot Mess?)
Macerich Co. Reports Earnings
Macerich Co. ($MAC) reported earnings earlier this week with some very mixed-to-negative results. The company reported decreases in revenue (-$63.4mm YOY), net income (-$370mm YOY), Funds From Operation (-$25mm vs. Q4 last year), and occupancy (-40 bps YOY). Lease termination fees increased by $3.6mm for Q4 vs. a year prior.…