Citigroup Upgrades The Macerich Company to 'Buy', Sets $28 Target
Citigroup analyst Nick Joseph sees upside for The Macerich Company, raising the target to $28.
Key Points
- Citigroup upgraded The Macerich Company to a 'buy' rating and set a new price target of $28 on June 24, 2026.
- Citigroup's $28 price target implies 9.89% upside from The Macerich Company's ($MAC) current $25.48 share price.
- Shares of NYSE:MAC traded around $24.39 on Wednesday, with a market cap of about $7.15 billion.
- The Macerich Company, a retail REIT, saw insider buying activity and interest from major institutional investors.
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Citigroup has upgraded The Macerich Company (NYSE:MAC) to a 'buy' rating and set a new price target of $28. This move by analyst Nick Joseph was announced on June 24, 2026. Shares of The Macerich Company traded near $24.39 on Wednesday.
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The Macerich Company Stock Up 7.3%
Shares of The Macerich Company, trading under the ticker MAC on the NYSE, were near $24.39 on Wednesday. The company, which is a real estate investment trust (REIT) specializing in retail properties, has a market cap of approximately $7.15 billion. With a forward P/E ratio of 313.6 and a beta of 2.086, the stock has experienced a 52-week low of $15.48 and a high of $25.72. The company's 50-day moving average stands at $22.37, while the 200-day moving average is $19.29.
$MAC price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
The Macerich Company reported revenue of about $1.02 billion, though it experienced a revenue decline of 6.7%. The company's net margin is negative at -17.9%, and its return on equity is -7.1%. These figures suggest challenges in its current financial performance. The next earnings report is expected on August 10, 2026.
Dividend
The company pays an annual dividend of $0.68, yielding 2.88%. However, with a payout ratio of 188.9%, the dividend sustainability may be a concern.
Insider Buying and Selling at The Macerich Company
Recent insider activity includes purchases by several insiders such as Steve Hash, Devin Ignatius Murphy, Diana Laing, Daniel Hirsch, Enrique Hernandez Jr., and Marianne Lowenthal, each acquiring shares on June 1, 2026. These transactions were not part of any planned sales.
Analysts Set New Price Targets
On June 24, 2026, Citigroup upgraded The Macerich Company to a 'buy' rating with a new price target of $28. Scotiabank maintained its 'buy' rating with a $27 target on June 18, while Morgan Stanley kept a 'hold' with a $25 target. JP Morgan recently upgraded its stance to 'hold' with a $25 target on June 17. Overall, the consensus among 16 analysts is a 'buy' with an average target price of $24.31.
About The Macerich Company
The Macerich Company is a leading real estate investment trust (REIT) that owns, operates, and develops high-quality retail properties in the U.S. The company's portfolio is concentrated in key urban and suburban markets like California, the Pacific Northwest, and the Metro New York to Washington, D.C. corridor. Headquartered in Santa Monica, California, and led by CEO Jackson Hsieh, Macerich manages approximately 41 million square feet of real estate.
Bottom Line
Citigroup's upgrade of The Macerich Company to 'buy' with a $28 target highlights potential upside for the stock. Investors are keeping an eye on the company's performance, especially given its recent financial challenges and insider buying activities. As always, it's important to remember that analyst ratings and 13F filings are backward-looking and might not reflect current positions or future performance.
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