The Macerich Company
$22.83
+2.3%Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in the West Coast, Arizona, Chicago and the Metro New York to Washington, DC corridor. A recognized leader in sustainability, Macerich has achieved the #1 GRESB ranking in the North American Retail Sector for five straight years (2015 - 2019).
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
Medium confidenceValuation multiple is compressed (P/E -29.6).
Valuation inputs: P/E -29.6, earnings yield N/A, momentum +2.3%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE -8.1%, ROIC +2.0%).
Profitability stack: net margin -19.4%, ROE -8.1%, ROIC +2.0%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +69.8%, momentum +2.3%, net margin -19.4%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
The Macerich Company Market vs Earnings Trajectory
Loading price and EPS data...
The Macerich Company Fair Value Envelope
The Macerich Company Profit Bridge
Profitability Analysis
Gross Margin
Strong gross margins indicate healthy pricing and efficient production or service delivery.
Operating Margin
Healthy operating margins demonstrate effective cost control and strong business fundamentals.
Net Profit Margin
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Profitability Insight
Interest or tax burden: Strong operational performance but thin net margins indicate high interest expenses or unfavorable tax position eating into profits.
The Macerich Company Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.
FCF Growth Trend
Steady FCF growth indicates consistent cash generation improvement. On a positive trajectory.
Working Capital Impact
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
The Macerich Company Funding & Solvency Profile
Financial Health Analysis
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
The Macerich Company Street Expectations Map
Wall Street analysts project that MAC stock may see slight declines over the coming 12 months. The consensus 1-year price target stands at 22.44, with estimates ranging from a low of 19.00 to a high of 27.00.
The consensus 1-year price target stands at 22.44, with estimates ranging from a low of 19.00 to a high of 27.00.
Analyst Consensus Analysis
Upside Potential
Fair value territory. Stock trading near consensus target suggests limited near-term catalysts. Focus on fundamental developments.
Analyst Agreement
Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.
Risk-Reward Profile
Balanced risk-reward. Upside and downside potential relatively symmetric. Suitable for moderate risk tolerance with conviction in thesis.
Analyst Conviction
Neutral sentiment. Fair value pricing with moderate agreement suggests wait-and-see approach or catalyst-driven opportunity.
Market Sentiment Insight
Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.
The Macerich Company Insider Positioning
During the last 12 months, insiders have sold $266K worth of MAC shares, with no buying activity reported.
3 Months
0
0.00
0
0.00
+0
+$0
3-6 Months
0
0.00
0
0.00
+0
+$0
6-9 Months
0
0.00
6.0K
102.78K
-103K
-$103K
9-12 Months
0
0.00
9.5K
163.07K
-163K
-$163K
Top Buyers
No buying activity
Top Sellers
Zecchini Christopher J
Officer: Chief Accounting Officer
$163K
Lowenthal Marianne
Director
$103K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $266K net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Insider Participation
2 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.
mac Dividend History
Learning Layer
Related Guides
Build conviction on MAC by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.