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Strategies & Market Trends : Commercial Real Estate tic.............tic,,, -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (404)	8/1/2012 7:16:24 AM
From: Smiling Bob	Respond to of 442

Macerich in black, aided by gains; revenue up By Saabira Chaudhuri Macerich Co. (NYSE:MAC) swung to a second-quarter profit as the mall-focused real-estate investment trust recorded a double-digit rise in revenue and was helped by big gains on asset sales. Revenue has been on the rise at Macerich as the retail property market continues to strengthen, and occupancy and rent rates start to stabilize. Wednesday, Chief Executive Arthur Coppola said the company continues to execute on its plan to dispose of noncore assets. During the quarter, it sold its interests in three urban villages and a shopping center, among others. Overall, Macerich recorded a $130.7 million gain on the sale, disposition or write-down of its assets versus a loss of $35.8 million a year ago. Macerich reported a profit of $133.4 million, or $1 a share, compared with a year-earlier loss of $19.2 million, or 15 cents a share. Revenue rose 13% to $204.5 million. Adjusted funds from operations were flat at 74 cents, topping the 73 cents expected by analysts. Shares of Macerich, which backed its full-year earnings guidance, closed on Tuesday at $58.41 and were inactive premarket. The stock is up 15% so far this year. Subscribe to WSJ: online.wsj.com?mod=djnwires Copyright © 2012 MarketWatch, Inc. All rights reserved. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED 10/18/2011. Intraday Data provided by SIX Telekurs and subject to terms of use. Historical and current end-of-day data provided by SIX Telekurs. Intraday data delayed per exchange requirements. Dow Jones Indexes (SM) from Dow Jones & Company, Inc. All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More information on NASDAQ traded symbols and their current financial status. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Dow Jones IndexesSM from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Telekurs and is at least 60-minutes delayed. All quotes are in local exchange time.