Janus Henderson Group PLC Reduces Stake in Macerich Company (The) $MAC

Key Points

• Janus Henderson reduced its Macerich stake by 6.1% in the first quarter, selling 137,947 shares and retaining 2.11 million shares worth approximately $40 million. Institutional investors collectively own 87.38% of MAC.
• Analyst sentiment is broadly positive: Macerich has a “Moderate Buy” consensus rating and an average price target of $25.33, with several firms recently raising targets and upgrading the stock.
• Macerich shares opened at $25.82, near their 52-week high of $26.67. Its latest quarterly results beat estimates, with EPS of $0.34 versus $0.31 expected, although revenue declined 3.1% year over year.

Janus Henderson Group PLC lessened its holdings in Macerich Company (The) (NYSE:MAC - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,114,016 shares of the real estate investment trust's stock after selling 137,947 shares during the quarter. Janus Henderson Group PLC owned about 0.81% of Macerich worth $40,004,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in Macerich by 76.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 585 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Macerich by 366.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Macerich by 80.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 684 shares during the last quarter. Triumph Capital Management acquired a new position in Macerich during the third quarter valued at $33,000. Finally, Salomon & Ludwin LLC lifted its position in Macerich by 156.6% during the fourth quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 1,336 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MAC shares. The Goldman Sachs Group increased their price target on Macerich from $17.00 to $19.00 and gave the stock a "sell" rating in a research report on Friday, May 15th. JPMorgan Chase & Co. raised Macerich from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $23.00 to $25.00 in a report on Wednesday, June 17th. Citigroup upgraded Macerich from a "neutral" rating to a "buy" rating and upped their target price for the stock from $24.00 to $28.00 in a research note on Tuesday, June 23rd. Truist Financial raised their target price on Macerich from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Finally, LADENBURG THALM/SH SH lifted their price target on Macerich from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Macerich has an average rating of "Moderate Buy" and a consensus price target of $25.33.

Macerich Stock Down 0.1%

MAC opened at $25.82 on Monday. The company has a fifty day moving average of $24.60 and a two-hundred day moving average of $21.59. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of -36.36, a PEG ratio of 1.82 and a beta of 2.06. Macerich Company has a fifty-two week low of $15.94 and a fifty-two week high of $26.67. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.83 and a current ratio of 0.83.

Macerich (NYSE:MAC - Get Free Report) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The business had revenue of $241.54 million for the quarter, compared to analyst estimates of $233.06 million. During the same period in the prior year, the company posted $0.33 EPS. The company's revenue for the quarter was down 3.1% on a year-over-year basis. On average, research analysts expect that Macerich Company will post 1.49 earnings per share for the current year.

Macerich Company Profile

The Macerich Company NYSE: MAC is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich's core activities encompass property and asset management, leasing, marketing and redevelopment services.

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