Janus Henderson Group PLC Decreases Holdings in Macerich Company (The) $MAC

Janus Henderson Group PLC decreased its stake in Macerich Company (The) (NYSE:MAC) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & 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’s holdings in Macerich were worth $40,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Amundi lifted its stake in Macerich by 17.2% in the 1st quarter. Amundi now owns 162,916 shares of the real estate investment trust’s stock valued at $3,079,000 after buying an additional 23,944 shares in the last quarter. Adelante Capital Management LLC purchased a new stake in Macerich during the 1st quarter worth approximately $8,136,000. California State Teachers Retirement System raised its holdings in shares of Macerich by 26.6% during the first quarter. California State Teachers Retirement System now owns 307,320 shares of the real estate investment trust’s stock valued at $5,808,000 after acquiring an additional 64,481 shares during the last quarter. Resolution Capital Ltd raised its holdings in shares of Macerich by 204.0% during the first quarter. Resolution Capital Ltd now owns 4,384,180 shares of the real estate investment trust’s stock valued at $82,861,000 after acquiring an additional 2,941,909 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of Macerich by 165.6% in the first quarter. Quantinno Capital Management LP now owns 140,543 shares of the real estate investment trust’s stock valued at $2,656,000 after acquiring an additional 87,626 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MAC shares. Jefferies Financial Group raised Macerich to a “strong-buy” rating in a research note on Friday, June 26th. Compass Point restated a “neutral” rating and issued a $26.00 price objective (up from $23.00) on shares of Macerich in a report on Friday, June 26th. Citigroup upgraded Macerich from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $28.00 in a report on Tuesday, June 23rd. KeyCorp lifted their target price on shares of Macerich from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. Finally, Truist Financial upped their target price on shares of Macerich from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Macerich currently has an average rating of “Moderate Buy” and an average price target of $25.33.

Macerich Trading Down 0.1%

Shares of Macerich stock opened at $25.82 on Monday. The stock has a market cap of $7.32 billion, a P/E ratio of -36.36, a P/E/G ratio of 1.82 and a beta of 2.06. The stock’s 50 day simple moving average is $24.60 and its 200-day simple moving average is $21.59. Macerich Company has a 1-year low of $15.94 and a 1-year high of $26.67. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.83 and a quick ratio of 0.83.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Macerich had a negative return on equity of 6.95% and a negative net margin of 18.22%.The firm had revenue of $241.54 million during the quarter, compared to analysts’ expectations of $233.06 million. During the same quarter last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Analysts predict that Macerich Company will post 1.49 EPS for the current fiscal year.

About Macerich

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.