SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — The Macerich Co. (MAC) on Tuesday reported a key measure of profitability in its first quarter. The results missed Wall Street expectations. The Santa Monica, California-based real estate investment trust said it had funds from operations of $70.2 million, or 31 cents per share, in the period. Related Content HSBC's chief executive Noel Quinn is retiring in a surprise departure Wegovy and Ozempic: Are we ready for weight loss drugs? Are