on May 3 reported resultsfor the first quarter and announced the sale of the Capitola Mall in Capitola, Calif.
The companysold the mall for $93 million on April 13, according to the earnings release. Thebuyer was not disclosed.
FFO forthe quarter came to $141.0 million, or 87 cents per share, compared to $133.5 million,or 79 cents per share, in the year-ago quarter. Excluding extinguishment of debtand costs related to Simon PropertyGroup Inc.'s unsolicited takeover offer initiated in the 2015 firstquarter, FFO totaled $144.6 million, or 89 cents per share, compared to $144.9 million,or 86 cents per share, in the year-ago quarter.
The S&PCapital IQ consensus FFO-per-share estimate for the first quarter was 86 cents.
The companyreaffirmed its full-year FFO-per-share guidance, issued with its 2015 full-yearresults in February, inthe range of $4.05 to $4.15. The guidance factors in the dilutive impact of thesale of Capitola Mall.
The S&PCapital IQ consensus FFO-per-share estimate for the full year is $4.09.
Mallportfolio occupancy was 95.1% at quarter-end, compared to 95.4% at March 31, 2015.
The companysaid in the release that it committed to a $375 million loan on in Chicago.The loan is a 12-year fixed-rate loan with an interest rate of 3.68%. The loan isexpected to close in May and will pay off the existing $189 million loan, whichcarries an interest rate of 7.50%.
Between Nov. 13, 2015, and Jan. 19, Macerich repurchased5.11 million shares of common stock at an average share price of $78.26,and between Feb. 18 to April 19, it bought back 5.08 million shares at an averageprice of $78.69.