NYSE · MAC
The Macerich Company
Real Estate · REIT - Retail
$24.10▲ 0.63% ($0.15)at close
As of 4:00 PM ET
Market cap
$7.11B
P/E
N/M
EPS (TTM)
-$0.62
Next earnings
Valuation
P/E valuation
A P/E estimate isn't available here
Trailing four-quarter earnings were negative, so a P/E estimate is not meaningful (N/M).
USD · Trailing earnings · Price used $24.10 · Price Oct 23, 8:00 PM UTC
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 34.64% over the last year. Revenue grew 1.59% over the trailing twelve months. Operating margin moved from 17.3% to 9.71%. Free cash flow declined 29.29% over the trailing twelve months.
What the market seems to be pricing
The stock is rising despite deteriorating fundamentals and now sits at the 97th percentile of its historical P/FCF range. This is a momentum-driven move — the market may be front-running a recovery that has not yet appeared in reported numbers.
What would invalidate this read
Operating margin (currently 9.71%) would need to stabilize or improve to justify the move. This read is wrong if the next period shows operating metrics turning the corner. At that point the price would be anticipating real improvement rather than running ahead of it.
Return analysis
Company profile
Macerich operates as a comprehensive, self-managed real estate investment trust (REIT) that independently oversees all aspects of its operations.
Market multiples
Stock splits
Every 500 shares became 507
Every 10000 shares became 10179
Every 10000 shares became 10189
Every 1000 shares became 1027
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Analyst consensus
15
Buy
16
Hold
4
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Actuals vs estimates by quarter, or any quarter against the same one a year earlier.
Next report
Nov 4, 2026
Q3 FY26 · EPS est -$0.01 · Revenue est $251.3M
Same quarter, year over year
FY26 YTD n/mEach cell vs the same quarter a year earlier (the cell below) · Q1–Q2 combined -$0.24 vs -$0.36 · all 2 quarters up
Q1
Q2
Q3
Q4
FY total
FY26
—
—
FY25
FY24
FY23
—
—
—
Fiscal year totals
- FY25
- -$0.77
- n/m
- FY24
- -$0.82
- —
n/m: last year’s figure was zero, a loss or too small to compare against
Q2 FY26
Reported Aug 4, 2026 · Latest
HoverTap a cell to inspect
Actual
-$0.10
Estimate
-$0.05
Year over year
n/m
Vs prior quarter
n/m
Institutional Sentiment
The Macerich Company · MAC
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.