GET DAILY SIGNALSMacerich (MAC) Climbs +13.3% in the Past Month on Analyst Upgrades
Key Takeaways
- Macerich (MAC) shares advanced roughly 13.3% over the last 30 days, climbing from about $22.87 to approximately $25.91.
- The gain followed a late-September and early-October pullback and coincided with a cluster of bullish analyst actions.
- J.P. Morgan upgraded the stock to Buy, while Truist, Exane BNP Paribas, and Piper Sandler issued or reaffirmed Buy ratings during the period.
- The trailing quarter has been comparatively flat, with shares rebounding sharply after an August–September decline.
- Third-quarter 2026 results and continued execution of the company's "Path Forward" leasing and deleveraging plan remain key near-term catalysts.
- Investors can find additional detail on Price Targets, Earnings, and Forecast pages to explore the company's outlook in greater depth.
Understanding Macerich's Business and Strategy
Macerich is a fully integrated, self-managed, self-administered real estate investment trust (REIT) headquartered in Santa Monica, California. The company owns, operates, leases, and redevelops high-quality regional shopping centers, with a portfolio of roughly 39 to 40 million square feet concentrated in densely populated, affluent U.S. markets including California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Approximately 90% of its net operating income comes from Class A mall properties.
Investors follow the stock closely because of its exposure to Class A regional mall fundamentals, occupancy and leasing momentum, funds from operations (FFO), and balance-sheet leverage. Management's "Path Forward" plan — built around re-leasing about 1,000 units, a signed-not-open (SNO) revenue pipeline, roughly $2 billion in planned dispositions, and debt reduction — is central to the company's effort to improve FFO per share and lower leverage. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
MAC Stock Performance: Last 30 Days Compared to the Quarter
Over the last 30 days, MAC shares rose approximately 13.3%, moving from a closing price near $22.87 to about $25.91. The advance was back-loaded, with much of the move occurring after the stock bottomed near the low $22 area in early October and then staged a steady recovery through the final weeks of the period.
The broader quarterly picture is notably different. Measured from early August, when shares traded near $25.6, the stock is essentially little changed at roughly $25.9 — a gain of only about 1%. That modest net result, however, masks meaningful volatility: the stock slid from its 52-week-high territory into the low $22 range by late September and early October before rebounding. The quarter therefore reflects a V-shaped round trip rather than a steady advance.
Factors Behind the Recent 30-Day Gain
The recent upswing was supported by a wave of constructive sell-side activity. In late September, J.P. Morgan upgraded Macerich to Buy with a $26 price target. In early October, Truist assumed coverage with a Buy rating and a $26 target, citing limited retail supply, high occupancy, and low tenant credit losses as supportive of retail fundamentals. Exane BNP Paribas initiated coverage with a Buy rating and a $28 target, while Piper Sandler reaffirmed a Buy rating with a $26 target.
The stock also benefited from positioning ahead of the company's third-quarter 2026 earnings release, scheduled for November 4 after the market close. After the early-October pullback left shares oversold relative to the surrounding analyst price targets, buyers stepped in, and the name rebounded as sentiment improved across the mall REIT group. The move reflects a combination of analyst upgrades, improving risk appetite toward retail real estate, and renewed optimism about Macerich's leasing and deleveraging trajectory.
Drivers of Performance Over the Full Quarter
The last quarter was shaped by two competing forces. In early August, Macerich reported second-quarter 2026 funds from operations of $0.35 per share, exceeding the consensus estimate of $0.33. That beat was not enough to prevent a broader pullback, however, as the stock fell sharply in early August and trended lower through September amid interest-rate and REIT-sector volatility. By early October, shares had retreated to the low $22 range.
The subsequent recovery was driven by the analyst upgrades and initiations described above, plus a broader rotation back into high-quality retail landlords. Investors also continue to weigh the company's "Path Forward" milestones — including a growing signed-not-open pipeline, anchor backfill progress, and debt reduction — as evidence that Class A mall fundamentals remain resilient even in a higher-rate environment. The net result over the full quarter has been a return to roughly its starting level.
Key Catalysts to Watch Going Forward
The most immediate catalyst is Macerich's third-quarter 2026 earnings report and conference call, which provide updated detail on FFO, occupancy, and leasing activity. Beyond the quarter, investors are likely to focus on the "Path Forward" plan's execution: the ramp of the signed-not-open pipeline toward its target, progress toward the 88%–89% occupancy goal, the pace of the roughly $2 billion disposition program, and further debt reduction.
Macroeconomic factors also matter. As a REIT, Macerich is sensitive to interest-rate movements, which influence both financing costs and valuation multiples. Consumer spending trends, tenant credit quality, and any additional retailer bankruptcies or store closures represent ongoing risks. On the upside, continued strength in Class A mall demand, limited new supply, and anchor backfills could support further operational improvement. Analyst sentiment currently skews constructive, with a consensus Buy rating and average price targets clustered in the mid-to-high $20s, but actual results will depend on execution and the broader rate environment. From what I see, this is important because execution on the plan could set the tone for the rest of the year.
Using AI Tools to Refine My Research
In my analysis of names like MAC, I often turn to Tickeron’s AI tools to scan for patterns and compare performance across peers. One platform I find particularly useful is the AI Trading Bots, which help me evaluate systematic strategies that align with current market conditions. These resources allow me to test ideas quickly without replacing my own judgment on fundamentals and analyst sentiment.
Disclaimer
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Momentum Indicator for MAC turns positive, indicating new upward trend
MAC saw its Momentum Indicator move above the 0 level on October 20, 2026. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 91 similar instances where the indicator turned positive. In 63 of the 91 cases, the stock moved higher in the following days. The odds of a move higher are at 69%.
Technical Analysis (Indicators)
Bullish Trend Analysis
MAC moved above its 50-day moving average on October 20, 2026 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for MAC crossed bullishly above the 50-day moving average on October 26, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 7 of 13 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 54%.
Following a +2.06% 3-day Advance, the price is estimated to grow further. Considering data from situations where MAC advanced for three days, in 216 of 312 cases, the price rose further within the following month. The odds of a continued upward trend are 69%.
Bearish Trend Analysis
The RSI Oscillator demonstrated that the stock has entered the overbought zone. This may point to a price pull-back soon.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 10 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MAC declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 69%.
MAC broke above its upper Bollinger Band on November 04, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for MAC entered a downward trend on October 14, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is 41 (best 1 - 100 worst), indicating steady price growth. MAC’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 43 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 44 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 58, placing this stock slightly better than average.
The Tickeron Seasonality Score of 50 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of 57 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.481) is normal, around the industry mean (2.780). MAC has a moderately low P/E Ratio (-37.485) as compared to the industry average of (35.742). Projected Growth (PEG Ratio) (0.060) is also within normal values, averaging (12.808). Dividend Yield (0.027) settles around the average of (269.113) among similar stocks. P/S Ratio (5.807) is also within normal values, averaging (6.739).
The Tickeron SMR rating for this company is 92 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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a real estate investment trust
Industry RealEstateInvestmentTrusts
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