A magnetic memory device includes first and second magnetic memory cells coupled to first and second bit lines, respectively. The first and second magnetic memory cells respectively include a pinned magnetic layer, a free magnetic layer, and a tunnel insulating layer therebetween. Respective stacking orders of the pinned magnetic layer, the tunnel insulating layer, and the free magnetic layer are different in the first and second magnetic memory cells. The magnetic memory device further includes at least one transistor that is configured to couple the first and second magnetic memory cells to a common source line. Related methods of operation are also discussed.