Conference spotlight on Macerich
Macerich (MAC) heads into the BofA NY Global Real Estate Conference on 16 September 2026, giving investors a closer look at how management is thinking about its retail-focused REIT portfolio.
Recent trading has been choppy for Macerich, with the share price down about 4.7% over the past month and roughly 10.1% lower over 90 days. However, the year to date share price return of 22.3%, alongside a 1 year total shareholder return of 32.7%, points to momentum that has cooled in the short term but remains strong when viewed over a longer period.
Compare Macerich’s setup ahead of this conference with a hand picked group of income focused real estate players using the 8 dividend fortresses.
Macerich trades at a double digit discount to both analyst targets and estimated fair value after a strong 1 year run. Is that caution about a loss making REIT justified or overstated?
Most Popular Narrative: 15% Undervalued
Macerich’s most followed valuation storyline pegs fair value at $26.63 using an 8.44% discount rate, compared with the latest close at $22.64, so the conference arrives with the stock trading below that implied level.
The focus on experiential and destination-oriented retail (e.g., DICK'S House of Sport, Cheesecake Factory, entertainment concepts) is revitalizing consumer engagement and increasing traffic, positioning the portfolio to benefit from experience-driven spending and capturing higher net margins over time.
See why 1 investors see Macerich as 15% undervalued.
Result: Fair Value of $26.63 (UNDERVALUED)
Still, Macerich’s heavy leverage and concentration in challenged brick and mortar markets leave the bullish valuation narrative vulnerable if refinancing or tenant demand disappoints.
Find out about the key risks to this Macerich narrative.
Next Steps
Mixed signals around Macerich can easily sway opinion, so it may be helpful to move quickly, test the data for yourself, and weigh both sides through the 2 key rewards and 2 important warning signs.
Looking for more Macerich sized investment ideas?
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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