olivLaw · US equity research
The Macerich Company MAC
Real Estate Investment Trusts · SIC 6798 · Vertical: Real Estate Investment Trusts (SIC 6798)
The Macerich Company is a US REIT that owns and manages high-quality regional shopping centers concentrated in California, the Pacific Northwest, Phoenix/Scottsdale and the New York to Washington corridor. The company is in a phase of deleveraging and portfolio repositioning, which matters for investors watching how mall assets recover in today's retail economy; occupancy of 94.0% at June 30, 2026 shows progress, while the second-quarter net loss shows the process is not yet complete.
At the close of 04 Nov 2026, The Macerich Company (MAC) stock was 25.90 USD (+4.69% on the day), with market capitalisation 7.3 bn USD, dividend yield 2.63%, beta 1.13, 52-week range 16.20–26.51 USD. Latest reported quarter (Q2 2026): revenue of 249.7 m USD (−0.0% YoY), net income of -27.1 m USD, diluted EPS -0.10 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 74.1
- overbought (≥ 70)
- Bollinger (20, 2)
- 21.53 – 25.59
- above the upper band · %B 1.08 · band width 17.2%
- SMA 50 / 200
- 23.19 / 22.29
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.56 / 0.33
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +13.2% | −2.0% | +15.2 pp | — |
| 3 months | +2.0% | −2.2% | +4.2 pp | — |
| 6 months | +16.5% | +4.3% | +12.2 pp | — |
| Year to date | +40.3% | +10.6% | +29.7 pp | — |
| 1 year | +46.3% | +10.5% | +35.9 pp | +0.5% |
| 3 years | +130.8% | +73.7% | +57.2 pp | +11.9% |
| 5 years | +16.6% | +61.7% | −45.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 220.2 m | 273.7 m | 249.2 m | 249.8 m | 253.3 m | 261.7 m | 241.5 m | 249.7 m |
| Depreciation & amortisation | 73.3 m | 84.2 m | 95.2 m | 88.5 m | 90.9 m | 87.7 m | 86.0 m | 86.2 m |
| Income tax | 545.0 k | -879.0 k | -822.0 k | -188.0 k | -710.0 k | -473.0 k | -2.6 m | 495.0 k |
| Net income | -108.2 m | -211.2 m | -50.1 m | -40.9 m | -87.4 m | -18.8 m | -36.4 m | -27.1 m |
| Diluted EPS | -0.50 | -0.89 ≈ | -0.20 | -0.16 | -0.34 | -0.07 ≈ | -0.14 | -0.10 |
| Operating cash flow | 100.0 m ≈ | 54.9 m | 88.5 m | 70.5 m ≈ | 112.4 m ≈ | 50.2 m | 77.4 m | 66.9 m ≈ |
| Dividends paid | 39.8 m ≈ | 41.2 m | 50.4 m | 45.7 m ≈ | 45.9 m ≈ | 46.2 m | 49.0 m | 51.8 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 960.4 m | 927.5 m | 786.0 m | 847.4 m | 859.2 m | 884.1 m | 918.2 m | 1.0 bn |
| Revenue YoY | −3.4% | −3.4% | −15.2% | +7.8% | +1.4% | +2.9% | +3.9% | +10.4% |
| Net income | 69.0 m | 96.8 m | -230.2 m | 14.3 m | -66.1 m | -274.1 m | -194.1 m | -197.1 m |
| Net income YoY | −57.3% | +40.4% | −337.8% | unavailable | −563.2% | unavailable | unavailable | unavailable |
| Diluted EPS | 0.42 | 0.68 | -1.58 | 0.07 | -0.31 | -1.28 | -0.88 | -0.78 |
| Diluted EPS YoY | −58.8% | +61.9% | −332.4% | unavailable | −542.9% | unavailable | unavailable | unavailable |
| net % | 7.2% | 10.4% | -29.3% | 1.7% | -7.7% | -31.0% | -21.1% | -19.4% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 280.2 m USD
- Financial debt
- 5.1 bn USD
- Net debt
- 4.8 bn USD
- Equity
- 2.5 bn USD
- Total assets
- 8.4 bn USD
- Debt / equity
- 2.01x
- Current ratio
- unavailable
- ROE
- -7.3%
- ROA
- -2.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 786.0 m | 847.4 m | 859.2 m | 884.1 m | 918.2 m | 1.0 bn | SEC (XBRL)· 20 Feb 2026verified |
| Depreciation & amortisation | 326.1 m | 324.4 m | 302.5 m | 296.4 m | 305.9 m | 368.1 m | SEC (XBRL)· 20 Feb 2026verified |
| Interest expense | 75.6 m | 192.7 m | 216.9 m | — | — | — | SEC (XBRL)· 24 Feb 2023verified |
| Income tax | -447.0 k | 6.9 m | 705.0 k | -494.0 k | -1.3 m | -2.2 m | SEC (XBRL)· 20 Feb 2026verified |
| Net income | -230.2 m | 14.3 m | -66.1 m | -274.1 m | -194.1 m | -197.1 m | SEC (XBRL)· 20 Feb 2026verified |
| Diluted EPS | -1.58 | 0.07 | -0.31 | -1.28 | -0.88 | -0.78 | SEC (XBRL)· 20 Feb 2026verified |
| Weighted average diluted shares | 146.2 m | 198.1 m | 215.0 m | 215.5 m | 221.8 m | 254.2 m | SEC (XBRL)· 20 Feb 2026verified |
| Dividend per share | 1.55 | 0.60 | 0.62 | 0.68 | 0.68 | 0.68 | SEC (XBRL)· 20 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 465.3 m | 112.5 m | 100.3 m | 94.9 m | 89.9 m | 280.2 m | SEC (XBRL)· 20 Feb 2026verified |
| Intangibles (excl. goodwill) | 48.1 m | 35.6 m | — | — | — | — | SEC (XBRL)· 25 Feb 2022verified |
| Total assets | 9.2 bn | 8.3 bn | 8.1 bn | 7.5 bn | 8.6 bn | 8.4 bn | SEC (XBRL)· 20 Feb 2026verified |
| Long-term debt | 4.6 bn | 4.4 bn | 4.2 bn | 4.1 bn | 4.9 bn | 5.1 bn | SEC (XBRL)· 20 Feb 2026verified |
| Total liabilities | 6.7 bn | 5.2 bn | 5.1 bn | 5.0 bn | 5.7 bn | 5.8 bn | SEC (XBRL)· 20 Feb 2026verified |
| Equity | 2.4 bn | 3.2 bn | 2.9 bn | 2.5 bn | 2.8 bn | 2.5 bn | SEC (XBRL)· 20 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 124.8 m | 286.4 m | 337.5 m | 295.5 m | 283.4 m | 321.6 m | SEC (XBRL)· 20 Feb 2026verified |
| Investing cash flow | -202.8 m | 235.0 m | -1.4 m | 52.5 m | 19.8 m | -325.3 m | SEC (XBRL)· 20 Feb 2026verified |
| Financing cash flow | 446.5 m | -837.0 m | -321.9 m | -338.9 m | -316.1 m | 199.2 m | SEC (XBRL)· 20 Feb 2026verified |
| Dividends paid | 179.9 m | 143.4 m | 186.3 m | 159.3 m | 161.3 m | 188.2 m | SEC (XBRL)· 20 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Market and valuation
9 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 50.0% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 7.3 bn USD
Key indicators
Coverage and freshness
Score by group
50% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 8.94 – 24.31 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- Net asset value (NAV)unavailable · input data missing
- Dividend discount (DDM)8.94 – 12.02 (Mid 10.25)
- Peers: P/B9.93 – 24.31 (Mid 18.02)31 companies used · median multiple 1.8x · quartiles 1.0x – 2.4xAKR, ARI, BRSP, CTO, DLR, DRH, ESS, EXR, FCPT, FVR, GLPI, HST, KIM, LOAN, NXRT, O, PEB, PLD, PSA, PSTL, REG, SAFE, SITC, SQFT, STAG, TCI, UDR, VICI, VMRK, VTR, WELL
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 50.0% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | -6.3% | 8 (vs peers) | 13% |
| EBITDA margin · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 5.7% | 57 (on a fixed band) | 17% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| P/B · Valuation | 2.6x | 31 (vs peers) | 39% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| Dividend yield · Returns | 2.6% | 18 (vs peers) | 30% |
| Payout ratio (EPS) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/2 factors with a value
- Growth57/100 · 1/1 factors with a value
- Quality· partial8/100 · 1/2 factors with a value
- Returns· partial18/100 · 1/2 factors with a value
- Valuation· partial31/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
MACERICH CO (MAC). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.0 bn USD in 2025; YoY growth 10.4%; net margin -16.8%; ROE -6.3%.
The estimated value range is 9.43–18.16 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 14.13 USD, the price of 25.90 USD leaves a potential of -45.4% (value / price − 1) and a margin of safety of -83.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 50.0% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROE: -6.3%
- Dividend yield: 2.6%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): EBITDA margin, Net debt / EBITDA, Interest coverage, P/E (TTM), Payout ratio (EPS).
Versus the vertical median
Real Estate Investment Trusts (SIC 6798) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| WELLWelltower Inc. | 176.9 bn | 103.2 | 4.0% | 12.7% | +35.6% | +16% / +171% |
| PLDPrologis, Inc. | 120.3 bn | 32.5 | 7.1% | 42.5% | +7.2% | +0% / +12% |
| EQIXEquinix Inc | 100.4 bn | 60.9 | 11.5% | 16.4% | +5.4% | +35% / +24% |
| AMTAmerican Tower Corporation | 86.9 bn | 26.3 | 90.6% | 30.7% | +5.1% | +3% / −10% |
| DLRDigital Realty Trust, Inc. | 63.3 bn | 47.1 | 6.2% | 21.7% | +10.0% | +13% / +30% |
| PSAPublic Storage | 62.3 bn | 33.9 | 16.0% | 37.8% | +2.7% | +21% / +29% |
| ORealty Income Corporation | 54.7 bn | 39.6 | 3.6% | 22.9% | +9.1% | −0% / +7% |
| VTRVentas, Inc. | 46.0 bn | 163.7 | 1.9% | 4.0% | +18.5% | +8% / +90% |
| CCICrown Castle Inc. | 36.8 bn | 44.0 | — | 20.7% | −4.4% | −5% / −26% |
| IRMIron Mountain Inc | 34.7 bn | 82.6 | — | 5.7% | +12.2% | +35% / +82% |
| EXRExtra Space Storage Inc. | 32.6 bn | 31.8 | 7.9% | 29.9% | +3.7% | +17% / +20% |
| VICIVICI Properties Inc. | 26.9 bn | 11.2 | 8.3% | 56.5% | +4.1% | −15% / −18% |
| VMRKVivmark Residential | 23.3 bn | 27.2 | 8.1% | — | +4.8% | +0% / +9% |
| SBACSba Communications Corporation | 19.6 bn | 19.9 | — | 34.5% | +5.1% | −5% / −25% |
| HSTHost Hotels & Resorts, Inc. | 17.7 bn | 17.2 | 15.8% | 16.5% | +7.6% | +46% / +48% |
| ESSEssex Property Trust, Inc. | 17.0 bn | 40.7 | 8.0% | 22.7% | +6.4% | +0% / +24% |
| KIMKimco Realty Corporation | 16.8 bn | 27.6 | 5.8% | 27.8% | +5.1% | +21% / +29% |
| REGRegency Centers Corporation | 14.1 bn | 25.7 | 8.0% | 34.5% | +6.9% | +8% / +22% |
| ELSEquity Lifestyle Properties, Inc. | 12.2 bn | 30.8 | 23.1% | 25.6% | +0.3% | −1% / −12% |
| UDRUDR, Inc. | 11.8 bn | 17.5 | 21.8% | 40.8% | +2.4% | +2% / +11% |
| GLPIGaming and Leisure Properties, Inc. | 11.6 bn | 12.2 | 19.6% | 55.2% | +4.1% | −8% / −15% |
| MACMacerich Co | 7.3 bn | — | -6.3% | -16.8% | +10.4% | +46% / +131% |
| STAGSTAG Industrial, Inc. | 7.3 bn | 27.1 | 7.6% | 29.9% | +10.1% | −4% / +6% |
| DRHDiamondrock Hospitality Co | 3.0 bn | 18.4 | 10.6% | 14.3% | −0.8% | +61% / +76% |
| AKRAcadia Realty Trust | 2.7 bn | 28.4 | 9.5% | 54.4% | +14.2% | −3% / +31% |
1- and 3-year price returns: for MAC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
The Macerich Company is a US REIT that owns and manages high-quality regional shopping centers concentrated in California, the Pacific Northwest, Phoenix/Scottsdale and the New York to Washington corridor. The company is in a phase of deleveraging and portfolio repositioning, which matters for investors watching how mall assets recover in today's retail economy; occupancy of 94.0% at June 30, 2026 shows progress, while the second-quarter net loss shows the process is not yet complete 3.
SWOT
Strengths
- Portfolio concentrated in densely populated markets and Class A assets, with rising occupancy and sales per square foot ahead of the prior year 3.
- Diversified access to capital through public offerings, the ATM program and a revolving credit facility, providing substantial liquidity at the reporting date 23.
- In-house experience in management, leasing and redevelopment, including full control of key assets previously held in partnerships 1.
Weaknesses
- Significant debt and net losses in recent quarters limit financial flexibility 13.
- Dependence on a few states and regions exposes the company to local economic conditions 1.
- Some mortgage loans have entered default or are under negotiation, signaling pressure on the capital structure of certain assets 1.
Opportunities
- Redevelopment and modernization of anchors and vacant space could lift rental income at existing centers 13.
- Acquisitions of quality assets funded with new capital could expand the portfolio if market conditions are favorable 23.
- Limited space availability in premium malls could support long-term rents in the strongest centers 3.
Threats
- Bankruptcy or closure of significant tenants could reduce occupancy and rental income 1.
- Competition from online retail and other retail formats could affect traffic and sales in centers 1.
- Elevated interest rates and construction cost inflation could slow redevelopments and raise refinancing costs 2.
Risks
- Significant tenants and bankruptcieshigh
If an anchor or major tenant files for bankruptcy or closes stores, the company could lose rent and face high costs to re-let the space 1.
- Debt refinancing and defaultshigh
Some loans are in default or under negotiation, and refinancing terms could become more costly if interest rates remain high 12.
- Geographic concentrationmedium
A significant share of centers sits in a few states, so a regional economic slowdown could affect results disproportionately 1.
- Redevelopment executionmedium
Redevelopment and development projects could exceed budget or schedule, and rents in new space could fall short of expectations 1.
- Shareholder dilutionlow
Equity issuance and forward contracts could dilute per-share value if returns on the funded investments fall short of expectations 23.
Investment thesis
What would need to be true (bull case)
- Rising occupancy and go-forward NOI suggest the portfolio repositioning is making concrete progress 3.
- Capital raised through offerings and the revolving credit facility gives flexibility for acquisitions and debt reduction 23.
- If the signed-not-open leasing pipeline turns into paying rent, revenue could grow meaningfully in coming years 3.
What would break the thesis
- Net losses and elevated debt could limit the company's ability to fund acquisitions and redevelopments without further equity issuance 13.
- Some loans in default or under negotiation show that the capital structure of certain assets is still fragile 1.
- If demand for malls weakens or significant tenants disappear, occupancy could fall back quickly 1.
What to watch
- Conversion pace of the signed-not-open leasing pipeline into paying rent and go-forward NOI trendQ3 2026
- Status of refinancings and loans in default or under negotiation, including Twenty Ninth Street2026
- Integration progress at Annapolis Mall and occupancy of new tenantsnext 10-K
- Settlement timing of the forward sale agreements and use of proceeds for acquisitions2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Macerich acquires, owns, develops, redevelops, manages and leases regional and community/power shopping centers across the United States. According to the fiscal 2025 annual report, at December 31, 2025 the company owned or had an interest in 37 regional retail centers and one community/power center, with about 39 million square feet of gross leasable area 1. By June 30, 2026 the portfolio stood at about 40 million square feet after the Annapolis Mall acquisition, financed with cash and revolving credit borrowings 23. The company operates as a self-administered REIT through its Operating Partnership and seven management companies 1.
Long-term strategy rests on four pillars: acquiring well-located regional centers with revenue upside, leasing and management, redevelopment and selective development 1. The Path Forward Plan launched in 2024 aims to reduce leverage, fortify key assets, dispose of non-core assets and resume acquisitions, which began in June 2025 with Crabtree Mall for 290 million dollars 1. The company has defined a go-forward portfolio of centers to retain, a list subject to change 1.
Segments
Regional malls (Go-Forward)
The go-forward portfolio includes centers such as Scottsdale Fashion Square, Queens Center, Tysons Corner Center and Broadway Plaza, concentrated in densely populated urban markets with constrained supply 13. The company states that about 90% of go-forward NOI comes from Class A assets in supply-constrained markets 3.
Market context
Regional malls operate in a market where owners compete for tenants and anchors, and occupancy and rents depend on local demand and merchandise mix 1. Management argues that new regional mall supply is effectively absent and that demand concentrates on the best centers, though these demand claims remain management's view 3. Sales per square foot for spaces under 10,000 square feet reached 919 dollars over the twelve months to June 30, 2026, versus 849 a year earlier 3.
Retail conditions are shaped by competition from online retail, outlet and lifestyle formats, and by bankruptcies of significant tenants, which the company flags in its risk factors 1. Elevated interest rates affect both acquisition costs and refinancing of debt 2.
Trends
- Occupancy recovery in premium centerstailwind
Portfolio occupancy rose to 94.0% at June 30, 2026, and go-forward centers reached 95.5%, indicating stronger demand for quality space 3. If this trend holds, rental income could grow without relying only on new acquisitions.
- Go-forward NOI growthtailwind
Go-forward center NOI, excluding lease termination income, rose 3.8% in the second quarter of 2026 compared with the same period of 2025 3. Continuing this momentum depends on converting the signed-not-open leasing pipeline into paying rent.
- Cost of debt and refinancingheadwind
The company has faced uncertainty around floating-rate debt and refinancings, and its annual report describes loans in default or under negotiation 12. If interest rates stay elevated, cash flow pressure could persist.
- Equity issuance and dilutionmixed
The company raised capital through public offerings and its ATM program and also issued shares under forward agreements, which can dilute existing shareholders even as they fund acquisitions and debt reduction 23. The net effect depends on the returns from the funded investments.
Competitive position
Macerich competes with other mall and shopping center owners and developers, including other publicly traded mall companies and large private mall groups, for both acquisitions and tenants 1. Competition also comes from lifestyle, outlet, power center and online retail formats 1.
In acquisitions the company faces other REITs and private investors, and rivals may have greater financial resources, which can raise purchase prices 1. Macerich's stated advantage lies in its geographic positioning and its relationships with sellers and financial institutions 1.
- Simon Property GroupSPG
A direct competitor in regional mall ownership, acquisitions and tenant leasing, identified in the analyzed sources as a rival for tenants and transactions 1.
- Other publicly traded mall companies
Publicly traded mall companies, mentioned generically in the risk factors, compete with Macerich for acquisitions and tenants 1.
- Large private mall companies
Large private shopping center groups, noted in the annual report, compete for the same assets and tenants 1.
- Lifestyle, outlet and online retail formats
Alternative formats such as lifestyle centers, outlets and online retail that draw customers and tenants away from malls 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Macerich CEO: Consumers Are Spending, but Are SelectiveBloomberg Markets · 17 Sept 2026 · EN
- Strong Execution Strengthens Macerich (MAC) in Q2Yahoo Finance — News · 17 Sept 2026 · EN
SEC filings
- Current report11 Aug 2026Material agreement · Creation of a direct financial obligation · Item 3.02 · Other events · Financial statements and exhibits
- Current report05 Aug 2026Other events · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report04 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report29 Jun 2026Other events
- Current report17 Jun 2026Other events · Financial statements and exhibits
- Current report03 Jun 2026Shareholder vote
- Current report01 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Current report13 May 2026Other events · Financial statements and exhibits
- Quarterly report07 May 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / The Macerich Company · 20 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / The Macerich Company · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / The Macerich Company · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.