MAC
The Macerich Company
NYSEUSDEQUITY
Real Estate
DELAYED
Buy
+33/100
Last price
22.95
▲ 0.08 (0.35%)
MARKET · —
Price
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
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Range —
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vs
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Open
—
Prev close
22.87
Day high
23.18
Day low
22.80
Volume
2.97M
Market cap
$6.77B
P/E (TTM)
—
52W range
16.03 – 26.68
Trailing performance
Returnvs SPY
1W
+0.26%
-1.7%
1M
-1.25%
-2.4%
3M
-7.35%
-11.9%
6M
+15.62%
-2.6%
YTD
+24.32%
+10.1%
1Y
+27.22%
+10.8%
3Y
+110.36%
+28.1%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on MAC open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
+47.10K
Net buying
Buy transactions
7
49.84K shares
Sell transactions
1
2.74K shares
Net transactions
+8
Buys less sells
Sell : buy shares
0.1 : 1
Mixed
Insider-held shares
997.11K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Sep 9, 26 | ZECCHINI CHRISTOPHER J. Officer |
SELL | 2.74K | $63.79K | Direct |
| Jun 1, 26 | HERNANDEZ ENRIQUEJR Director |
STOCK | 6.72K | $0 | Direct |
| Jun 1, 26 | LAING DIANA M Director |
STOCK | 6.72K | $0 | Direct |
| Jun 1, 26 | STEPHEN ANDREA M Director |
STOCK | 6.72K | $0 | Direct |
| Jun 1, 26 | HASH STEVE Director |
STOCK | 9.52K | $0 | Direct |
| Jun 1, 26 | LOWENTHAL MARIANNE Director |
STOCK | 6.72K | $0 | Direct |
| Jun 1, 26 | MURPHY DEVIN IGNATIUS Director |
STOCK | 6.72K | $0 | Direct |
| Jun 1, 26 | HIRSCH DANIEL J Director |
STOCK | 6.72K | $0 | Direct |
| Sep 24, 25 | LOWENTHAL MARIANNE Director |
SELL | 6.00K | $102.78K | Direct |
| Aug 15, 25 | ZECCHINI CHRISTOPHER J. Officer |
SELL | 9.50K | $163.07K | Direct |
| Jun 2, 25 | HERNANDEZ ENRIQUEJR Director |
STOCK | 8.35K | $0 | Direct |
| Jun 2, 25 | LAING DIANA M Director |
STOCK | 8.35K | $0 | Direct |
| Jun 2, 25 | STEPHEN ANDREA M Director |
STOCK | 8.35K | $0 | Direct |
| Jun 2, 25 | HASH STEVE Director |
STOCK | 12.21K | $0 | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
HASH STEVE |
Director | 156.15K | Stock Award(Grant) |
HERNANDEZ ENRIQUEJR |
Director | 89.86K | Stock Award(Grant) |
HIRSCH DANIEL J |
Director | 96.63K | Stock Award(Grant) |
HSIEH JACKSON |
Chief Executive Officer | 226.50K | Purchase |
LAING DIANA M |
Director | 163.29K | Stock Award(Grant) |
LOWENTHAL MARIANNE |
Director | 43.60K | Stock Award(Grant) |
MURPHY DEVIN IGNATIUS |
Director | 24.62K | Stock Award(Grant) |
STEPHEN ANDREA M |
Director | 104.92K | Stock Award(Grant) |
ZECCHINI CHRISTOPHER J. |
Officer | 847 | Sale |
Fundamentals
Market cap$6.77B
Enterprise value$11.28B
Revenue (TTM)$1.03B
Gross profit$564.20M
EBITDA$536.66M
Net income$-170.35M
EPS (TTM)$-0.65
Free cash flow$388.90M
Total cash$227.03M
Total debt$4.91B
Book value / share$9.95
Shares outstanding283.56M
Float283.34M
Short % of float16.04%
Dividend yield2.96%
Beta (5Y)2.10
Valuation & profitability ratios
Trailing P/E—
Forward P/E166.91
PEG ratio4.80
Price / sales—
Price / book2.31
EV / revenue10.98
EV / EBITDA21.03
Gross margin54.91%
Operating margin16.26%
Profit margin-16.50%
Return on equity-6.18%
Return on assets1.34%
Debt / equity168.93
Current ratio0.33
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Operating revenue | $973.47M | $880.27M | $839.21M | $829.06M | +10.6% |
| Cost of revenue | $457.60M | $430.27M | $394.89M | $390.35M | +6.4% |
| Gross profit | $556.38M | $487.94M | $489.18M | $468.81M | +14.0% |
| Selling, general & admin | $31.54M | $28.14M | $29.24M | $27.16M | +12.1% |
| Total operating expense | $388.62M | $322.93M | $311.60M | $318.78M | +20.3% |
| Operating income | $167.76M | $165.01M | $177.58M | $150.03M | +1.7% |
| Net interest income | -$283.54M | -$219.99M | -$172.92M | -$216.85M | -28.9% |
| Pre-tax income | -$203.25M | -$198.97M | -$278.59M | -$64.37M | -2.2% |
| Tax provision | -$2.19M | -$1.30M | -$494.00K | $705.00K | -68.7% |
| Net income | -$197.15M | -$194.12M | -$274.06M | -$66.07M | -1.6% |
| Net income to common | -$197.92M | -$195.03M | -$274.94M | -$66.92M | -1.5% |
| Basic EPS | -0.78 | -0.88 | -1.28 | -0.31 | +11.4% |
| Diluted EPS | -0.78 | -0.88 | -1.28 | -0.31 | +11.4% |
| EBIT | $80.29M | $21.02M | -$105.67M | $152.48M | +281.9% |
| EBITDA | $448.39M | $326.90M | $190.72M | $454.96M | +37.2% |
| Basic shares | 254.22M | 221.84M | 215.55M | 215.03M | +14.6% |
| Diluted shares | 264.97M | 231.86M | 224.50M | 223.68M | +14.3% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $280.25M | $89.86M | $94.94M | $100.32M | +211.9% |
| Cash & short-term investments | $280.25M | $89.86M | $94.94M | $100.32M | +211.9% |
| Accounts receivable | $145.72M | $155.35M | $183.48M | $183.59M | -6.2% |
| Total current assets | $521.13M | $334.67M | $378.53M | $368.03M | +55.7% |
| Property, plant & equipment | $108.92M | $111.04M | $118.66M | $126.61M | -1.9% |
| Goodwill & intangibles | $176.39M | $211.48M | $102.30M | $73.05M | -16.6% |
| Total assets | $8.37B | $8.57B | $7.51B | $8.09B | -2.3% |
| Total current liabilities | $705.69M | $660.08M | $573.72M | $502.94M | +6.9% |
| Long-term debt | $5.07B | $4.99B | $4.23B | $4.40B | +1.5% |
| Total debt | $5.14B | $5.06B | $4.31B | $4.50B | +1.4% |
| Total liabilities | $5.84B | $5.72B | $4.99B | $5.14B | +2.0% |
| Retained earnings | -$3.78B | -$3.41B | -$3.06B | -$2.64B | -10.9% |
| Shareholder equity | $2.45B | $2.76B | $2.45B | $2.87B | -11.2% |
| Working capital | -$184.56M | -$325.41M | -$195.19M | -$134.91M | +43.3% |
| Net tangible assets | $2.27B | $2.55B | $2.34B | $2.79B | -10.7% |
| Shares issued | 256.99M | 252.93M | 215.98M | 215.24M | +1.6% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | -$201.06M | -$197.66M | -$278.10M | -$65.08M | -1.7% |
| Depreciation & amortisation | $368.10M | $305.88M | $296.39M | $302.48M | +20.3% |
| Stock-based compensation | $18.17M | $12.13M | $13.17M | $17.64M | +49.8% |
| Change in working capital | $22.35M | $18.05M | $18.30M | $60.37M | +23.8% |
| Operating cash flow | $321.60M | $283.44M | $295.50M | $337.51M | +13.5% |
| Investing cash flow | -$325.34M | $19.79M | $52.54M | -$1.40M | -1,744.0% |
| Share buybacks | — | — | -$583.00K | -$183.00K | — |
| Dividends paid | -$188.21M | -$161.29M | -$159.29M | -$186.33M | -16.7% |
| Financing cash flow | $199.22M | -$316.05M | -$338.89M | -$321.94M | +163.0% |
| Free cash flow | $321.60M | $283.44M | $295.50M | $337.51M | +13.5% |
| End cash position | $372.96M | $177.48M | $190.29M | $181.14M | +110.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $249.71M | $241.54M | $261.70M | $253.26M | $249.79M | +3.4% |
| Operating revenue | $239.03M | $232.52M | $251.60M | $242.64M | $238.66M | +2.8% |
| Cost of revenue | $115.68M | $119.44M | $117.53M | $110.56M | $112.34M | -3.2% |
| Gross profit | $134.03M | $122.09M | $144.17M | $142.70M | $137.45M | +9.8% |
| Selling, general & admin | $9.49M | $8.03M | $9.20M | $6.93M | $7.80M | +18.3% |
| Total operating expense | $95.71M | $91.10M | $94.32M | $97.83M | $96.30M | +5.1% |
| Operating income | $38.32M | $30.99M | $49.85M | $44.87M | $41.15M | +23.6% |
| Net interest income | -$66.04M | -$67.50M | -$69.84M | -$72.70M | -$71.92M | +2.2% |
| Pre-tax income | -$26.36M | -$39.53M | -$18.84M | -$90.70M | -$41.73M | +33.3% |
| Tax provision | $495.00K | -$2.64M | -$473.00K | -$710.00K | -$188.00K | +118.7% |
| Net income | -$27.07M | -$36.35M | -$18.76M | -$87.36M | -$40.91M | +25.5% |
| Net income to common | -$27.29M | -$36.56M | -$18.95M | -$87.55M | -$41.10M | +25.4% |
| Basic EPS | -0.10 | -0.14 | -0.07 | -0.34 | -0.16 | +28.6% |
| Diluted EPS | -0.10 | -0.14 | -0.07 | -0.34 | -0.16 | +28.6% |
| EBIT | $39.69M | $27.96M | -$37.62M | $44.87M | $30.19M | +41.9% |
| EBITDA | $128.92M | $113.98M | $50.08M | $138.86M | $121.39M | +13.1% |
| Basic shares | 273.71M | 258.03M | 256.62M | 254.13M | 253.09M | +6.1% |
| Diluted shares | 273.71M | 258.03M | 267.19M | 264.85M | 263.97M | +6.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $227.03M | $182.03M | $280.25M | $290.16M | $131.09M | +24.7% |
| Cash & short-term investments | $227.03M | $182.03M | $280.25M | $290.16M | $131.09M | +24.7% |
| Accounts receivable | $128.60M | $125.76M | $145.72M | $41.88M | $129.22M | +2.3% |
| Total current assets | $442.65M | $400.11M | $521.13M | $512.19M | $358.17M | +10.6% |
| Property, plant & equipment | $104.03M | $106.48M | $108.92M | $111.81M | $114.18M | -2.3% |
| Goodwill & intangibles | $191.79M | $159.27M | $176.39M | $192.48M | $210.90M | +20.4% |
| Total assets | $8.52B | $8.19B | $8.37B | $8.42B | $8.73B | +4.1% |
| Total current liabilities | $704.91M | $682.07M | $705.69M | $695.74M | $674.85M | +3.3% |
| Long-term debt | $4.85B | $4.93B | $5.07B | $5.08B | $5.32B | -1.7% |
| Total debt | $4.91B | $5.00B | $5.14B | $5.15B | $5.39B | -1.7% |
| Total liabilities | $5.62B | $5.68B | $5.84B | $5.84B | $6.07B | -1.1% |
| Retained earnings | -$3.93B | -$3.86B | -$3.78B | -$3.72B | -$3.58B | -2.0% |
| Shareholder equity | $2.83B | $2.44B | $2.45B | $2.51B | $2.59B | +16.0% |
| Working capital | -$262.26M | -$281.96M | -$184.56M | -$183.55M | -$316.68M | +7.0% |
| Net tangible assets | $2.64B | $2.28B | $2.27B | $2.32B | $2.37B | +15.7% |
| Shares issued | 284.08M | 260.63M | 256.99M | 256.30M | 253.20M | +9.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$26.85M | -$36.89M | -$18.37M | -$90.00M | -$41.55M | +27.2% |
| Depreciation & amortisation | $89.23M | $86.02M | $87.70M | $93.99M | $91.20M | +3.7% |
| Stock-based compensation | $6.74M | $5.90M | $4.84M | $4.82M | $5.30M | +14.2% |
| Change in working capital | -$5.76M | $18.75M | -$26.82M | $35.35M | -$3.00M | -130.7% |
| Operating cash flow | $66.87M | $77.38M | $50.20M | $112.39M | $70.52M | -13.6% |
| Investing cash flow | -$338.05M | -$54.71M | -$7.17M | -$3.51M | -$231.62M | -517.9% |
| Dividends paid | -$51.80M | -$49.03M | -$46.18M | -$45.87M | -$45.73M | -5.6% |
| Financing cash flow | $311.36M | -$124.86M | -$50.67M | $46.25M | $42.07M | +349.4% |
| Free cash flow | $66.87M | $77.38M | $50.20M | $112.39M | $70.52M | -13.6% |
| End cash position | $310.95M | $270.76M | $372.96M | $380.60M | $225.47M | +14.8% |
Options analytics
Put / call volume
1.00
Call-heavy session
Put / call open interest
—
Positioning, not flow
Max pain
21.00
-8.5% from spot
ATM implied vol
0.8%
Nearest strike to spot
Skew (10% OTM)
0.0%
Calls bid over puts
Call volume
6
Contracts, this expiry
Put volume
6
Contracts, this expiry
Heaviest call OI
22.00
0 contracts
Heaviest put OI
21.00
0 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.06 | -0.12 | -105.0% |
| Mar 2026 | -0.10 | -0.16 | -58.6% |
| Dec 2025 | 0.01 | 0.03 | +488.0% |
| Sep 2025 | -0.10 | -0.16 | -60.9% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -0.01 | 3 | $250.07M | +5.4% |
| Next quarter | 0.08 | 3 | $267.28M | +2.1% |
| Current year | -0.17 | 4 | $973.37M | -4.0% |
| Next year | 0.14 | 4 | $1.03B | +5.6% |
Analyst targets & ownership
Mean target$27.00
High target$30.00
Low target$21.00
Implied upside17.65%
Analyst count15
ConsensusBUY
Strong buy / Buy3 / 9
Hold2
Sell / Strong sell1 / 0
Held by insiders0.35%
Held by institutions113.71%
Institutions holding510
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
22.72
+1.02% from price
SMA 20
22.66
+1.27% from price
SMA 50
23.78
-3.47% from price
SMA 100
23.98
-4.31% from price
SMA 200
21.81
+5.20% from price
EMA 12
22.78
+0.75% from price
EMA 26
23.01
-0.27% from price
EMA 50
23.39
-1.89% from price
RSI (14)
48.4
Neutral
MACD (12,26,9)
-0.23
Hist 0.11
ATR (14)
0.42
1.82% of price
Realised vol 30D
16.4%
Annualised
Bollinger upper
23.06
20, 2σ
Bollinger lower
22.26
20, 2σ
50 / 200 cross
Golden
23.78 vs 21.81
Trend bias
Above 200
+5.20%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.67
Less volatile than market
Correlation to SPY
0.30
Loosely linked
Realised vol 30D
16.4%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-15.7%
Peak to trough
Max drawdown 5Y
-65.2%
Peak to trough
ATR 14
0.42
1.82% of price
Beta (reported)
2.10
5Y monthly, from filing
Short interest
Shares short
32.53M
Prior 27.71M
Change vs prior
+17.4%
Shorts adding
% of float
16.04%
Elevated
% of shares out
11.47%
Against total outstanding
Days to cover
11.5
Crowded exit
Float
283.34M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Sep 24, 26 | JP Morgan | UPGRADE | Neutral | Overweight |
| Sep 21, 26 | Evercore ISI Group | UPGRADE | In-Line | Outperform |
| Aug 27, 26 | Piper Sandler | UPGRADE | Neutral | Overweight |
| Aug 18, 26 | Evercore ISI Group | MAINTAINED | In-Line | In-Line |
| Aug 11, 26 | Citigroup | MAINTAINED | Buy | Buy |
| Aug 6, 26 | Evercore ISI Group | MAINTAINED | In-Line | In-Line |
| Jul 21, 26 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Jul 7, 26 | Evercore ISI Group | MAINTAINED | In-Line | In-Line |
| Jun 26, 26 | Compass Point | DOWNGRADE | Buy | Neutral |
| Jun 24, 26 | Truist Securities | MAINTAINED | Buy | Buy |
| Jun 24, 26 | Citigroup | UPGRADE | Neutral | Buy |
| Jun 18, 26 | Scotiabank | MAINTAINED | Sector Outperform | Sector Outperform |
Dividends & splits
Forward rate$0.68 / yr
Forward yield2.96%
5-year avg yield4.17%
Payout ratio188.89%
Ex-dividend dateSep 14, 2026
Next pay dateSep 28, 2026
Last split1014:1000
Split dateFeb 11, 2010
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-08-11
Corporate Changes & Voting Matters
8-K · 2026-08-04
Corporate Changes & Voting Matters
8-K · 2026-06-29
Corporate Changes & Voting Matters
8-K · 2026-06-17
Corporate Changes & Voting Matters
8-K · 2026-06-03
Corporate Changes & Voting Matters
8-K · 2026-06-01
Corporate Changes & Voting Matters
8-K · 2026-05-13
Periodic Financial Reports
10-Q · 2026-05-07
Headlines
JPMorgan Upgrades Macerich to Overweight From Neutral, Price Target is $26
MT Newswires · 13d ago
Ciena upgraded, Flutter downgraded: Wall Street's top analyst calls
The Fly · 16d ago
Strong Execution Strengthens Macerich (MAC) in Q2
Insider Monkey · 20d ago
Macerich Co's Dividend Analysis
GuruFocus.com · 23d ago
Macerich To Present at BofA Securities 2026 Global Real Estate Conference
GlobeNewswire · 23d ago
Why Is Macerich (MAC) Down 7.8% Since Last Earnings Report?
Zacks · 34d ago
Piper Sandler Upgrades Macerich to Overweight From Neutral, $30 Price Target
MT Newswires · 41d ago
3 REITs to Beat Rising Interest Rates, According to a Real Estate Pro
Barrons.com · 48d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.