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Bamco Inc. NY bought a new position in shares of Macerich Company (The) (NYSE:MAC – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,999,756 shares of the real estate investment trust’s stock, valued at approximately $125,944,000. Bamco Inc. NY owned about 1.76% of Macerich at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MAC. BlackRock Inc. purchased a new position in shares of Macerich during the 2nd quarter worth approximately $1,378,836,000. State Street Corp lifted its stake in Macerich by 2.4% in the 2nd quarter. State Street Corp now owns 15,162,075 shares of the real estate investment trust’s stock valued at $245,322,000 after buying an additional 351,907 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Macerich by 17.7% in the 4th quarter. JPMorgan Chase & Co. now owns 13,555,892 shares of the real estate investment trust’s stock valued at $250,242,000 after buying an additional 2,034,338 shares in the last quarter. Geode Capital Management LLC increased its position in Macerich by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,608,318 shares of the real estate investment trust’s stock worth $122,008,000 after buying an additional 70,132 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its position in Macerich by 149.6% during the fourth quarter. Centersquare Investment Management LLC now owns 6,354,661 shares of the real estate investment trust’s stock worth $117,307,000 after buying an additional 3,808,336 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Performance NYSE MAC opened at $24.20 on Thursday. The business’s 50-day moving average price is $25.06 and its 200 day moving average price is $22.36. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.67. Macerich Company has a twelve month low of $16.03 and a twelve month high of $26.67. The company has a market capitalization of $6.86 billion, a PE ratio of -37.23, a price-to-earnings-growth ratio of 1.74 and a beta of 2.07.

Macerich (NYSE:MAC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $249.71 million during the quarter, compared to analysts’ expectations of $239.77 million. Macerich had a negative net margin of 16.85% and a negative return on equity of 6.26%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS. On average, research analysts predict that Macerich Company will post 1.49 earnings per share for the current year. Macerich Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, September 14th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, September 14th. Macerich’s payout ratio is presently -104.62%.

Analysts Set New Price Targets Several analysts have recently issued reports on MAC shares. Scotiabank upped their price objective on Macerich from $24.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Thursday, June 18th. Piper Sandler lifted their price objective on Macerich from $21.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Jefferies Financial Group raised shares of Macerich to a “strong-buy” rating in a research note on Friday, June 26th. Griffin Securities set a $26.00 target price on shares of Macerich in a report on Tuesday, August 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Macerich from a “hold” rating to a “buy” rating and raised their price target for the stock from $20.00 to $27.00 in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.75.

Check Out Our Latest Analysis on Macerich

About Macerich (Free Report)

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.

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August 07, 2026 07:00 ET  | Source: Macerich Company

SANTA MONICA, Calif., Aug. 07, 2026 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE: MAC) (“Macerich”) announced today that its operating partnership, The Macerich Partnership, L.P. (“Macerich Partnership”), priced its offering of $675 million aggregate principal amount of 2.25% exchangeable senior notes due 2031 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offering was upsized from the previously announced offering size of $600 million aggregate principal amount of notes. Macerich will fully and unconditionally guarantee the notes on a senior, unsecured basis. The issuance and sale of the notes are scheduled to settle on August 11, 2026, subject to customary closing conditions. Macerich Partnership also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $100 million aggregate principal amount of notes.

The notes will be senior, unsecured obligations of Macerich Partnership, and will accrue interest at a rate of 2.25% per annum, payable semi-annually in arrears on February 15 and August 15 of each year, beginning on February 15, 2027. The notes will mature on August 15, 2031, unless earlier repurchased, exchanged or redeemed. Before May 15, 2031, noteholders will have the right to exchange their notes in certain circumstances and during specified periods. From and after May 15, 2031, noteholders may exchange their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date of the notes. Exchanges will be settled in cash up to the aggregate principal amount of the notes to be exchanged and, if applicable, cash, shares of Macerich’s common stock or a combination thereof, at Macerich Partnership’s election, in respect of the remainder (if any) of Macerich Partnership’s exchange obligations in excess of the aggregate principal amount of the notes being exchanged. The initial exchange rate is 35.4761 shares of Macerich’s common stock per $1,000 principal amount of notes, which represents an initial exchange price of approximately $28.19 per share of Macerich’s common stock. The initial exchange price represents a premium of approximately 20% over the last reported sale price of $23.49 per share of Macerich’s common stock on August 6, 2026. The exchange rate and exchange price of the notes will be subject to adjustment upon the occurrence of certain events.

The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Macerich Partnership’s option at any time, and from time to time, on or after August 20, 2029 and on or before the 41st scheduled trading day immediately before the maturity date of the notes, but only if the last reported sale price per share of Macerich’s common stock exceeds 130% of the exchange price of the notes for a specified period of time and certain other conditions are satisfied. Macerich Partnership may also redeem the notes, in whole or in part (subject to certain limitations), for cash at any time, and from time to time, if Macerich’s board of directors (or a committee thereof) determines such redemption is necessary to preserve Macerich’s status as a real estate investment trust. In either case, the redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

The holders of the notes will be entitled to the benefits of a registration rights agreement pursuant to which Macerich will agree to register the resale of the shares of Macerich’s common stock, if any, deliverable upon exchange of the notes under the Securities Act.

In connection with the pricing of the notes, Macerich Partnership and Macerich entered into privately negotiated capped call transactions with certain of the initial purchasers of the notes or their respective affiliates and certain other financial institutions (the “option counterparties”). The capped call transactions cover, subject to customary adjustments, the number of shares of Macerich’s common stock initially underlying the notes. The cap price of the capped call transactions will initially be approximately $34.06 per share, which represents a premium of approximately 45% over the last reported sale price of Macerich’s common stock on August 6, 2026, and is subject to certain adjustments under the terms of the capped call transactions. The capped call transactions are expected generally to reduce the potential dilution to Macerich’s common stock upon any exchange of notes and/or offset any cash payments Macerich Partnership is required to make in excess of the principal amount of exchanged notes, as the case may be, with such reduction and/or offset subject to a cap.

Macerich Partnership has been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates will enter into various derivative transactions with respect to Macerich’s common stock and/or purchase shares of Macerich’s common stock or other securities of Macerich in secondary market transactions concurrently with, or shortly after, the pricing of the notes, including with, or from, as the case may be, certain investors in the notes. This activity could increase (or reduce the size of any decrease in) the market price of Macerich’s common stock or the notes at that time. In addition, Macerich Partnership expects that the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Macerich’s common stock and/or purchasing or selling Macerich’s common stock or other securities of Macerich or Macerich Partnership in secondary market transactions prior to the maturity of the notes (and are likely to do so following any repurchase of notes by Macerich Partnership on a fundamental change repurchase date, any redemption date or exchange of the notes and during the 40 VWAP trading day period beginning on the 41st scheduled trading day immediately before the maturity date of the notes, or, to the extent Macerich Partnership exercises the relevant election under the capped call transactions, following any other repurchase of the notes). This activity could also cause, reduce the extent of or avoid an increase or a decrease in the market price of Macerich’s common stock or the notes, which could affect the ability of holders to exchange the notes, and, to the extent the activity occurs during any observation period related to an exchange of notes, it could affect the number of shares of Macerich’s common stock, if any, and value of the consideration that holders will receive upon exchange of the notes.

Macerich Partnership estimates that the net proceeds from the offering of the notes will be approximately $659.1 million, (or approximately $757.0 million if the initial purchasers exercise their option to purchase additional notes in full) after deducting the initial purchasers’ discounts and commissions and estimated offering expenses. Macerich Partnership intends to use approximately $39.2 million of the net proceeds from the offering to pay the cost of the capped call transactions (or approximately $45.0 million if the initial purchasers exercise their option to purchase additional notes in full), and the remainder of the net proceeds to refinance existing secured debt and for general corporate purposes. If the initial purchasers exercise their option to purchase additional notes, Macerich Partnership expects to use a portion of the proceeds from the sale of the additional notes to enter into additional capped call transactions with the option counterparties. Pending such use, Macerich Partnership may invest the net proceeds in short-term, interest-bearing deposit accounts.

The offer and sale of the notes, the related guarantee and any shares of Macerich’s common stock deliverable upon exchange of the notes have not been registered under the Securities Act or any other securities laws, and the notes, such guarantee and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws.

Although Macerich Partnership and Macerich intend to enter into a registration rights agreement pursuant to which Macerich will agree to file a resale registration statement under the Securities Act covering the resale of shares of Macerich’s common stock, if any, deliverable upon exchange of the notes, the registration rights agreement will contain significant limitations, and a resale registration statement may not be available at the time investors wish to resell the shares of Macerich’s common stock, if any, deliverable upon exchange of their notes. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the notes or any shares of Macerich’s common stock deliverable upon exchange of the notes, nor will there be any sale of the notes or any such shares of Macerich’s common stock, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful.

About Macerich

Macerich (NYSE: MAC) is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns approximately 40 million square feet of real estate, consisting primarily of interests in 38 retail centers.

Forward-Looking Information

Information set forth in this press release contains “forward-looking statements” (within the meaning of the federal securities laws, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), which reflect Macerich’s expectations regarding future events and plans, including, but not limited to, statements regarding the completion of the offering, the intended use of the net proceeds, expectations regarding the actions of the option counterparties and their respective affiliates and whether the capped call transactions will become effective. Generally, the words “expects,” “anticipates,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “scheduled,” “predicts,” “may,” “will,” “should,” “could,” variations of such words and similar expressions identify forward-looking statements. The forward-looking statements are based on information currently available to us and involve a number of known and unknown assumptions, risks, uncertainties and other factors, which may be difficult to predict and beyond the control of Macerich, which could cause actual results to differ materially from those contained in the forward-looking statements. These factors include Macerich’s ability to satisfy the closing conditions to the offering described above, as well as other risks and uncertainties detailed from time to time in Macerich’s filings with the Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website at www.sec.gov. Macerich disclaims any obligation to publicly update or revise any forward-looking statements contained in this press release whether as a result of changes in underlying assumptions or factors, new information, future events or otherwise, except as required by law.

INVESTOR CONTACT: Investor Relations, [email protected]

Macerich (MAC - Free Report) came out with quarterly funds from operations (FFO) of $0.35 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to FFO of $0.32 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of +6.06%. A quarter ago, it was expected that this shopping center real estate investment trust would post FFO of $0.31 per share when it actually produced FFO of $0.34, delivering a surprise of +9.68%.

Over the last four quarters, the company has surpassed consensus FFO estimates three times.

Macerich, which belongs to the Zacks REIT and Equity Trust - Retail industry, posted revenues of $249.71 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.24%. This compares to year-ago revenues of $249.79 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

Macerich shares have added about 40.1% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for Macerich?While Macerich has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Macerich was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.37 on $251.47 million in revenues for the coming quarter and $1.49 on $1 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Retail is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the broader Zacks Finance sector, Hamilton Insurance (HG - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.

This provider of insurance and reinsurance services is expected to post quarterly earnings of $0.96 per share in its upcoming report, which represents a year-over-year change of -38.1%. The consensus EPS estimate for the quarter has been revised 1.9% higher over the last 30 days to the current level.

Hamilton Insurance's revenues are expected to be $687.02 million, down 7.3% from the year-ago quarter.