Why Is Macerich (MAC) Down 7.8% Since Last Earnings Report?
Macerich (MAC) reported Q2 2026 FFO beating estimates at 35 cents per share, up 2.9% YoY, with revenues of $249.7 million topping consensus. The company benefited from stronger portfolio NOI, rising occupancy to 94% (up 200 bps YoY), and healthy tenant demand. MAC completed the $260 million acquisition of Annapolis Mall and raised $448.2 million through an equity offering to strengthen liquidity. Despite positive fundamentals, shares have underperformed the S&P 500 by 7.8% over the past month, and the stock carries a Zacks Rank #3 (Hold) rating.