On September 21, 2026, Michael Griffin of Evercore ISI Group elevated his rating on The Macerich Company (NYSE: MAC) to “Outperform,” suggesting that the stock possesses solid upside potential. With a current price of $22.63 and a price target of $26, this upgrade signals a constructive view for investors, particularly those considering positions in retail real estate investment trusts (REITs).
Recent Price Action
In the wake of this bullish rating revision, MAC’s stock has shown modest resilience. The shares traded at $22.63, reflecting a slight gain of 0.015 or approximately 0.07% in recent sessions. However, it is noteworthy that the stock has fluctuated between a 52-week high of $66.19 and a low of $22.13, indicating considerable volatility and investor uncertainty regarding the retail sector’s prospects. Over the past week, MAC has experienced a volatility measure of 2.8%, while the average trading volume stood at a robust 3.62 million shares during a 30-day period compared to 669,431 on the latest trading day. This heightened trading activity underscores investor engagement, albeit with a beta of 2.055 signaling a tendency for the stock to exhibit greater volatility compared to the broader market.
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Historical Performance
An analysis of MAC’s performance over differing time frames reveals a mixed picture. Over the past 30 days, the stock has gained approximately 0.38%, reflecting some interest rebounding after a challenging year. The quarterly performance shows a more impressive gain of 6.9%, indicative of the stock’s recovery in recent months in tandem with improving retail sentiment. However, the longer 12-month outlook remains concerning, with a decline of 5.58%, highlighting ongoing challenges within the retail space. Monthly volatility is observed at 2.45%, further emphasizing the stock’s susceptibility to market fluctuations amid broader economic headwinds.
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Earnings Analysis
The most recent earnings report revealed a significant divergence between actual and estimated earnings per share (EPS), with MAC reporting an EPS of -$0.10, sharply missing analysts’ expectations of -$0.05274 by an astounding 89.61%. This comes on the heels of a previous earnings report from May, where MAC also fell short of estimates with an EPS of -$0.14. While the earnings surprises have raised concerns about the company’s financial predictability, they also suggest potential volatility for investors as the market digests this information.
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Analyst / Consensus View
The upgrade from Evercore ISI Group reflects a cautious optimism shared by some analysts, though consensus remains nuanced. Across seven total ratings, there are three “Buy” recommendations and four “Hold” ratings, with a collective average price target resting at approximately $26.29. The highest price target set by analysts is $28, while the lowest stands at $24. These figures suggest that while some analysts are willing to endorse MAC’s recovery potential, others are adopting a more wait-and-see approach, reflecting overall uncertainty in the retail sector’s trajectory.
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Stock Grading and Fundamental View
The Stocks Telegraph Grade for The Macerich Company currently stands at a score of 41, indicating less-than-stellar fundamentals when assessed against industry peers. This numerical representation underscores the challenges the company faces, particularly in terms of revenue generation and profitability within a highly competitive leasing environment. Investors should consider this grading alongside analyst sentiment to gauge potential risks in their investment strategy.
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Conclusion
The Macerich Company is currently positioned as a compelling opportunity for investors willing to navigate its inherent risks. With an “Outperform” rating and a price target suggesting a favorable upside, the stock may attract those interested in potential long-term growth within the retail REIT space. However, the recent earnings miss, coupled with a lukewarm consensus rating, signals that it requires careful consideration. Investors should remain abreast of market developments and any shifts in retail dynamics that could impact the stock’s performance, as the blend of potential rewards and acknowledged risks necessitates a measured approach.