
Macerich (MAC) Stock Forecast & Price Target
Macerich (MAC) Analyst Ratings
Bulls say
Macerich is currently undervalued compared to its peers, trading at a lower multiple of 16.4x 2026E FFO and 16.5x 2026E FAD. Macerich's aggressive external growth strategy, demonstrated by its recent acquisitions of Crabtree and Annapolis, is expected to drive strong NOI growth and increase sales per square foot. Additionally, the company's focus on converting temporary tenants to permanent ones and reducing leverage through asset sales and NOI growth should help improve earnings and NAV.
Bears say
Macerich is expected to see only a 1.6% year-over-year increase in normalized FFO in 2026, followed by 7.8% growth in 2027, indicating slow growth potential. Additionally, the company is facing challenges with non-real estate investments and property in receivership, leading to a decrease in the 2026 FFO estimate. Finally, while improvements have been made in leasing and capital allocation, the company still has ~250 leases left to execute its Path Forward Plan and only ~83% of the targeted new leases have been executed, suggesting potential delays and uncertainties in earnings realization. These fundamental factors, coupled with a high price target, support a negative outlook for Macerich's stock.
This aggregate rating is based on analysts' research of Macerich and is not a guaranteed prediction by Public.com or investment advice.
Macerich (MAC) Analyst Forecast & Price Prediction
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