Macerich Company (MAC)

In the past six months, Macerich Co. (MAC) stock rose 16.4% and reached a 52-week high of $22.56. Macerich reported robust first-quarter 2026 earnings, with Funds From Operations as Adjusted (FFOA) per share of $0.34 and revenues of $241.54 million. Macerich acquired Annapolis Mall and an adjacent parcel for $272 million, expected to add approximately $24 million in year-one estimated Net Operating Income (NOI). The company declared a quarterly cash dividend of $0.17 per share of common stock, payable on June 29, 2026. Macerich closed an amended and restated $900 million revolving credit facility, increasing its size from $650 million and extending its maturity to March 2030. Overall portfolio occupancy saw a slight seasonal decline to 93.4% in Q1 2026, but the go-forward portfolio occupancy remained strong at 94.5%, with leases signed for 1.6 million square feet.

Demand seasonality for Macerich's retail space leasing is influenced by traditional shopping seasons. The company notes seasonal declines in occupancy during the first quarter, as temporary tenants typically vacate. Key shopping seasons that drive demand and marketing efforts include Lunar New Year, Valentine's Day, Spring, Easter, Earth Month, Mother's Day, Dads & Grads, Back-to-School, and the Holiday & Santa season.

The Macerich Company (MAC) is a real estate investment trust (REIT) that specializes in the ownership, operation, development, redevelopment, management, and leasing of regional malls and shopping centers in the United States. Macerich operates within the Real Estate sector, specifically in the Retail REITs industry, leasing spaces within its retail properties to a variety of retailers and enhancing shopper engagement through dining, entertainment, and mixed-use development.

Macerich's geographic footprint is concentrated in attractive U.S. markets, including California, Phoenix/Scottsdale, the Pacific Northwest, Greater New York, North Carolina, Washington, D.C., and Arizona. The company's portfolio includes properties such as Santa Monica Place, Scottsdale Fashion Square, Queens Center, Kings Plaza, and Tysons Corner Center.

Macerich has a strong brand reputation as an industry leader in sustainability, achieving the #1 GRESB ranking in the North American Retail Sector for ten consecutive years (2015–2024). This commitment to corporate responsibility, including sound corporate governance and aggressive net-zero climate goals, contributes positively to its reputation.

Macerich Co. (MAC) has a shareholder base heavily dominated by institutional investors, who collectively own a substantial portion of the company’s stock. Major institutional owners include Teachers Pension Plan Board Ontario, BlackRock Inc., Vanguard Group Inc., Fmr LLC, and State Street Corp. Insiders hold a smaller percentage, and retail investors hold a negligible amount of the stock.