Janus Henderson Group PLC Reduces Stock Position in The Macerich Company (NYSE:MAC)

Janus Henderson Group PLC reduced its holdings in The Macerich Company (NYSE:MAC - Free Report) by 22.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,276,219 shares of the real estate investment trust's stock after selling 674,005 shares during the period. Janus Henderson Group PLC owned approximately 0.92% of Macerich worth $45,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Perpetual Ltd lifted its stake in Macerich by 24.3% in the 4th quarter. Perpetual Ltd now owns 55,356 shares of the real estate investment trust's stock worth $1,103,000 after purchasing an additional 10,830 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Macerich by 15.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,118 shares of the real estate investment trust's stock valued at $1,098,000 after purchasing an additional 7,314 shares during the last quarter. Blue Trust Inc. lifted its position in Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,064 shares in the last quarter. KBC Group NV boosted its stake in Macerich by 92.1% during the fourth quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust's stock worth $235,000 after buying an additional 5,664 shares during the last quarter. Finally, Vert Asset Management LLC grew its holdings in Macerich by 16.3% in the 4th quarter. Vert Asset Management LLC now owns 101,486 shares of the real estate investment trust's stock valued at $2,022,000 after buying an additional 14,228 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAC has been the topic of several analyst reports. The Goldman Sachs Group reduced their price target on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a report on Monday, March 10th. JPMorgan Chase & Co. cut their price objective on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. Morgan Stanley decreased their target price on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Scotiabank dropped their price target on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Finally, Truist Financial raised shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 price target on the stock in a research report on Thursday, April 10th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Macerich currently has an average rating of "Hold" and a consensus target price of $18.95.

Macerich Trading Down 1.6%

Macerich stock traded down $0.25 during trading on Monday, hitting $15.78. The company had a trading volume of 133,422 shares, compared to its average volume of 1,917,404. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 40.49, a price-to-earnings-growth ratio of 0.71 and a beta of 2.13. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The company's 50 day simple moving average is $15.53 and its 200-day simple moving average is $18.44.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business had revenue of $249.22 million during the quarter, compared to analysts' expectations of $221.61 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The company's revenue was up 19.3% on a year-over-year basis. As a group, analysts expect that The Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 4.31%. Macerich's dividend payout ratio (DPR) is presently -158.14%.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.