WEBULL
WebtradeDownload

What Is Drawing Fresh Attention To Macerich (MAC)?

Simply Wall St · 1d ago

Macerich (MAC) has drawn attention after recent share price swings, with the REIT now valued around US$6.6b and a recent close of US$22.20. Investors are reassessing what that means for long-term holders.

Recent trading has been choppy for Macerich. The share price return over the past 30 days is down 5.85%, contributing to a 90 day share price return that is lower by 10.09%. However, the year to date share price return of 19.87% and 1 year total shareholder return of 34.43% suggest momentum has been building over a longer stretch. This has been supported by very large 3 year and solid 5 year total shareholder returns, which keep long term holders focused on whether the current US$22.20 level still lines up with their view of the REIT’s risks and potential rewards.

Spot opportunities that echo Macerich's recent momentum shifts by comparing it with 27 high quality undervalued stocks that have been filtered for quality and potential mispricing.

For Macerich, a pullback over the past quarter sits next to strong multi year shareholder returns. Is this latest swing really about fundamentals, or just sentiment moving the pricing dial for now?

Most Popular Narrative: 17% Undervalued

Macerich’s most followed narrative pegs fair value at $26.63 against the recent $22.20 close. This frames the share price as meaningfully discounted and puts the focus on what might close that gap.

Ongoing asset dispositions and disciplined portfolio refinement are concentrating capital in top-performing, high-barrier, urban and coastal assets. This is enhancing pricing power, stabilizing cash flows, and allowing for continued improvements in balance sheet strength and lower interest expense, positively impacting net earnings.

See why 1 investors see Macerich as 17% undervalued.

Result: Fair Value of $26.63 (UNDERVALUED)

Still, the Macerich story hinges on heavy leverage and concentrated exposure to challenged retail regions, where weaker tenants or delayed asset sales could quickly pressure cash flows.

Find out about the key risks to this Macerich narrative.

Another View On Macerich’s Valuation

The SWS DCF model presents a different perspective on Macerich. On this framework, the shares at $22.20 are well below an estimated future cash flow value of $41.23, which suggests a wide undervaluation gap. If the cash flow analysis is accurate, are multiples providing an overly conservative perspective?

Look into how the SWS DCF model arrives at its fair value.

MAC Discounted Cash Flow as at Oct 2026
MAC Discounted Cash Flow as at Oct 2026

Next Steps

Mixed signals on Macerich can feel unsettling. Move quickly past the headline noise, weigh both sides of the story, and ground your stance in the underlying data by reviewing 3 key rewards and 2 important warning signs.

Looking For More Ideas Beyond Macerich?

If you stop with Macerich, you miss a broader field of opportunities. Put a small amount of time into scanning other ideas that match your style.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.