Macerich Details Strategy for $2B Asset Sales and 85% Leasing Goal by Mid-2026 Amid Strengthening Balance Sheet
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 05 2025
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Source: SeekingAlpha
Management Progress: The Macerich Company is ahead of schedule on its Path Forward plan, with significant leasing momentum, having signed 1.5 million square feet of new and renewal leases in Q3 2025, an 87% increase from the previous year.
Financial Performance: The company's net operating income (NOI) for go-forward portfolio centers increased by 1.7% year-over-year, with a strong occupancy rate of 93.4% and a focus on disciplined growth and asset dispositions.
SNO Pipeline Growth: The signed not open (SNO) pipeline grew from $87 million to $99 million, with expectations to meet or exceed the $100 million target by year-end, supported by strong leasing demand and retailer activity.
Analyst Sentiment: Analysts expressed a neutral to slightly positive tone during the Q&A, focusing on capital allocation and execution risks, while management maintained confidence in their progress and strategic objectives.
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Analyst Views on MAC
Wall Street analysts forecast MAC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MAC is 19.80 USD with a low forecast of 18.00 USD and a high forecast of 23.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
5 Buy
4 Hold
1 Sell
Moderate Buy
Current: 17.900
Low
18.00
Averages
19.80
High
23.00
Current: 17.900
Low
18.00
Averages
19.80
High
23.00
About MAC
The Macerich Company is a fully integrated, self-managed, self-administered real estate investment trust (REIT). The Company is the sole general partner of, and owns a majority of the ownership interests in, The Macerich Partnership, L.P. (the Operating Partnership). As an owner, operator, and developer of retail real estate in United States markets, the Company’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. The Company is developing and managing properties that serve as community cornerstones. It owns interests in approximately 38 retail centers. Its properties include Arrowhead Towne Center, Danbury Fair, Desert Sky Mall, Eastland Mall, Fashion District Philadelphia, Fashion Outlets of Chicago, The Village at Corte Madera, Washington Square, Vintage Faire Mall, Broadway Plaza, Superstition Springs Center, Crabtree, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Triad Investment Management Acquires 206,916 Shares of Macerich for $3.82 Million
- New Investment Position: Triad Investment Management initiated a new stake in Macerich by acquiring 206,916 shares valued at approximately $3.82 million during the latest quarter, indicating confidence in the company's fundamentals despite prevailing market skepticism.
- Asset Allocation Insight: The new position represents 3.87% of Triad's reportable assets under management, highlighting the firm's strategic emphasis on Macerich within its diversified portfolio, potentially setting the stage for future growth.
- Market Performance Review: As of Thursday, Macerich shares were priced at $18.32, down 2.8% over the past year and underperforming the S&P 500 by 19.53 percentage points, reflecting the challenges faced by retail REITs in a high-interest-rate environment.
- Financial Health Overview: Despite reporting a net loss of $87.4 million in the third quarter, an improvement from a loss of $108.2 million a year earlier, Macerich's management remains focused on asset quality and financial discipline, which helps sustain operational performance amid broader market pressures.
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Macerich (MAC) Announces 2025 Dividend Tax Treatment with $0.68 Per Share
- Dividend Payment Overview: Macerich paid a total dividend of $0.68 per share in 2025, reflecting the company's ongoing commitment to stable cash flow and shareholder returns despite market challenges.
- Tax Classification Details: The 2025 dividends are classified as taxable ordinary dividends, with each quarter paying $0.17, providing shareholders with clear tax reporting categories that enhance transparency.
- Company Background: As a self-managed real estate investment trust (REIT), Macerich holds a significant position in the U.S. high-quality retail real estate market, owning 39 million square feet of properties primarily concentrated in California and the East Coast, showcasing its strong market positioning.
- Commitment to Governance: Macerich is dedicated to advancing environmental goals and corporate governance, indicating that the company prioritizes not only financial performance but also social responsibility and sustainability, thereby enhancing its brand image and competitive edge.
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