Macerich (MAC) Stock Overview
A fully integrated, self-managed, self-administered real estate investment trust (REIT). More details
| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 3/6 |
| Past Performance | 0/6 |
| Financial Health | 1/6 |
| Dividends | 3/6 |
MAC Community Fair Values
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Analyst Price Targets
The Macerich Company Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$21.64 |
| 52 Week High | US$22.56 |
| 52 Week Low | US$14.82 |
| Beta | 2.11 |
| 1 Month Change | 1.03% |
| 3 Month Change | 11.66% |
| 1 Year Change | 30.83% |
| 3 Year Change | 126.83% |
| 5 Year Change | 51.22% |
| Change since IPO | 10.97% |
Recent News & Updates
Recent updates
Narrative Update • May 07
MAC: Path Forward Execution And Deleveraging May Support Balanced Repricing Ahead
Analysts have raised their average price target for Macerich by a few dollars to reflect recent target increases across several research firms, citing progress on the company's multi year "Path Forward Plan," asset sales, and balance sheet improvement as key supports for the updated view. Analyst Commentary Recent research updates present a mixed picture on Macerich, with several price target increases and a couple of rating changes that highlight both improving execution and ongoing debates about valuation and risk.Narrative Update • Apr 20
MAC: Path Forward Execution And Deleveraging Support Balanced Outlook As Models Update
The analyst price target for Macerich edges up from $21.38 to $21.63, as analysts factor in a modestly lower discount rate, steady revenue and margin assumptions, and recent Street research that highlights execution on the "Path Forward Plan," asset sales, deleveraging, and updated valuation models across several firms. Analyst Commentary Recent Street research on Macerich reflects a mix of optimism about the company’s execution and balance sheet progress, alongside ongoing caution on valuation and long term earnings power.Narrative Update • Apr 05
MAC: Path Forward Execution And Deleveraging Shape Balanced Outlook For Future Returns
Analysts nudged Macerich's fair value estimate to $21.38 from $21.19, citing updated models that reflect improved profit margin assumptions, a lower discount rate, and recent price target increases across the Street. Analyst Commentary Recent Street research on Macerich clusters around higher price targets and rating changes, with opinions split between optimism on execution and caution on valuation and sector fundamentals.Narrative Update • Mar 21
MAC: Path Forward Deleveraging And Asset Sales Will Drive Future Returns
The analyst price target for Macerich increases from $21.13 to $21.19 as analysts factor in updated models, recent price target revisions across the Street, and progress against the company's multi-year "Path Forward Plan." Analyst Commentary Recent research updates on Macerich reflect a mix of optimism around execution on the "Path Forward Plan" and caution on valuation and sector fundamentals. Price targets now span from the high teens to the mid twenties, with ratings ranging from Sell to Overweight.Narrative Update • Mar 07
MAC: Path Forward Execution And Deleveraging Will Shape Future Returns
The analyst price target for Macerich has moved higher to $21.13 from $20.13 as analysts point to updated expectations for the company’s Path Forward Plan, improving margin assumptions and revised P/E and discount rate inputs in recent research. Analyst Commentary Recent Street research on Macerich shows a mix of optimism around execution on the Path Forward Plan and caution around valuation and sector headwinds.
Narrative Update • Feb 20
MAC: Peak Fundamentals And Occupancy Levels Will Limit Future Upside Potential
Analysts have lifted their price targets on Macerich, including one increase to $21. This change reflects updated views on discount rates, revenue trends, profit margins, and future P/E assumptions.Narrative Update • Feb 06
MAC: Sector Peak Concerns And Occupancy Expectations Will Shape Future Returns
Analysts have nudged their fair value estimate for Macerich up from about $19.86 to $20.13, citing a series of recent price target increases and updated sector views that reflect current expectations for occupancy and earnings quality. Analyst Commentary Bullish Takeaways Bullish analysts highlight the series of price target resets, from US$18 to US$19 and then above US$20, as support for a modestly higher fair value range for the shares.Seeking Alpha • Feb 03
Macerich: Deleveraging Balance Sheet And Redevelopments To Limit Downside Risk
Summary Macerich is reiterating its multi-year "Path Forward Plan" transformation strategy to sell non-core properties to reduce debt. I downgrade MAC to Hold from Buy, as the shares are currently trading above my calculated intrinsic NAV of $15.42. Cap rate compression could happen with improved portfolio quality and reduced debt in the future. Read the full article on Seeking AlphaNarrative Update • Jan 22
MAC: Peak Occupancy Concerns Will Constrain Future Upside Potential
Narrative update on Macerich Analysts have nudged their fair value estimate for Macerich to about US$15.58 from US$15.00, reflecting recent price target increases across the Street as they refresh assumptions on growth, margins and long term P/E expectations. Analyst Commentary Recent Street research on Macerich has centered on refreshed price targets and sector views as firms revisit their models for U.S. real estate and REITs. While individual targets differ, the common thread is a reassessment of mall and shopping center fundamentals alongside updated assumptions for occupancy and earnings power.Narrative Update • Jan 08
MAC: Lower Discount Rate And P/E Assumptions Will Shape Future Returns
Narrative update on Macerich Analysts have lifted their price target on Macerich to about $19.86 from $19.53, reflecting updated views on discount rates, revenue trends, margins and long term P/E assumptions, in line with recent Street research that raised one target to $19. Analyst Commentary Recent commentary focuses on how updated discount rates, revenue trends, margin assumptions and long term P/E expectations feed into the fair value range for Macerich.Narrative Update • Sep 20
Experiential Retail Trends Will Revitalize Urban Leasing
Analysts modestly increased Macerich’s price target to $19.53, citing improved Q2 performance and a sector-wide REIT valuation reassessment, though concerns about the company’s risk profile persist. Analyst Commentary Bullish analysts increased price targets following updated financial models that reflect improved Q2 performance.
New Narrative • Feb 10
Rising Interest Rates And Debt Reduction Plans May Erode Future Earnings
Reducing debt and strategic asset sales may cause revenue instability and transitional earnings impacts during restructuring efforts.Seeking Alpha • Jan 07
Is Macerich Now A Buy?
Summary Macerich has rallied heavily over the last year as market enthusiasm builds over its Path Forward Plan. The REIT is currently trading for 13.5x times its annualized third-quarter FFO and offers a modest 3.31% dividend yield. The November equity offering should be accretive, but revenue is set to dip in future quarters on asset sales and givebacks. Read the full article on Seeking AlphaSeeking Alpha • Oct 16
Macerich: Old Retail Is Fading
Summary Macerich is a REIT focused on malls and shopping centers, currently yielding 3.8%, with no clear growth story. Management aims to reduce debt by $2B through asset sales, but this likely means revenue and cash flows will decline in the near term. E-commerce growth and the shift from brick-and-mortar retail present significant challenges, making MAC's turnaround and profitable growth uncertain. Read the full article on Seeking AlphaSeeking Alpha • Aug 01
Macerich: Probability Of Better Dividends Is Weak
Summary MAC reported FFO numbers for its second quarter that dipped 1 cent per share year-over-year. The dividend is 230% covered by FFO but still sits almost 80% below its pre-pandemic level. Management has not made it clear that their path forward plan intends to boost the capacity for more substantial dividend payouts. Read the full article on Seeking AlphaSeeking Alpha • May 01
Macerich: Increased Headwinds And Higher Valuation Reduce Investment Appeal (Rating Downgrade)
Summary Macerich's Q1 2024 results were below expectations, with a big miss on funds from operations (FFO) and a slight decrease in same center net operating income (NOI). The company faces persistent challenges including high interest rates, a weakened consumer, and increased competition from online retailers and overseas markets, all of which are pressuring traditional mall revenues. Refinancing debt at higher interest rates and pressures on consumer spending further contribute to the company's challenges. Read the full article on Seeking AlphaShareholder Returns
| MAC | US Retail REITs | US Market | |
|---|---|---|---|
| 7D | 0.7% | -0.4% | 2.6% |
| 1Y | 30.8% | 13.3% | 26.2% |
Return vs Industry: MAC exceeded the US Retail REITs industry which returned 16.1% over the past year.
Return vs Market: MAC matched the US Market which returned 31.1% over the past year.
Price Volatility
| MAC volatility | |
|---|---|
| MAC Average Weekly Movement | 4.7% |
| Retail REITs Industry Average Movement | 2.7% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.1% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: MAC has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: MAC's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1964 | 597 | Jackson Hsieh | www.macerich.com |
The Macerich Company is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 39 million square feet of real estate, consisting primarily of interests in 38 retail centers.
The Macerich Company Fundamentals Summary
| MAC fundamental statistics | |
|---|---|
| Market cap | US$5.96b |
| Earnings (TTM) | -US$184.17m |
| Revenue (TTM) | US$1.02b |
5.5x
P/S Ratio-30.7x
P/E RatioIs MAC overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| MAC income statement (TTM) | |
|---|---|
| Revenue | US$1.02b |
| Cost of Revenue | US$459.88m |
| Gross Profit | US$564.43m |
| Other Expenses | US$748.60m |
| Earnings | -US$184.17m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | -0.70 |
| Gross Margin | 55.10% |
| Net Profit Margin | -17.98% |
| Debt/Equity Ratio | 196.4% |
How did MAC perform over the long term?
See historical performance and comparisonDividends
3.1%
Current Dividend Yield44%
Payout RatioDoes MAC pay a reliable dividends?
See MAC dividend history and benchmarks| Macerich dividend dates | |
|---|---|
| Ex Dividend Date | Jun 15 2026 |
| Dividend Pay Date | Jun 29 2026 |
| Days until Ex dividend | 34 days |
| Days until Dividend pay date | 48 days |
Does MAC pay a reliable dividends?
See MAC dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/11 06:31 |
| End of Day Share Price | 2026/05/11 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
The Macerich Company is covered by 35 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | Argus Research Company |
| Ross Smotrich | Barclays |
| Paul Adornato | BMO Capital Markets Equity Research |