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

Janus Henderson Group PLC increased its position in shares of The Macerich Company (NYSE:MAC) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,950,224 shares of the real estate investment trust’s stock after purchasing an additional 201,581 shares during the period. Janus Henderson Group PLC owned approximately 1.31% of Macerich worth $53,826,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MAC. Vanderbilt University raised its holdings in Macerich by 121.5% during the second quarter. Vanderbilt University now owns 80,095 shares of the real estate investment trust’s stock worth $1,237,000 after purchasing an additional 43,942 shares in the last quarter. Murphy Pohlad Asset Management LLC raised its holdings in Macerich by 297.7% during the second quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock worth $1,707,000 after purchasing an additional 82,760 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Macerich by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 108,500 shares of the real estate investment trust’s stock worth $1,675,000 after purchasing an additional 1,500 shares in the last quarter. Bailard Inc. acquired a new position in Macerich during the second quarter worth about $468,000. Finally, Leisure Capital Management acquired a new position in Macerich during the second quarter worth about $571,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Stock Up 1.8 %

Shares of NYSE MAC opened at $21.87 on Friday. The Macerich Company has a 1 year low of $12.62 and a 1 year high of $21.99. The firm’s 50 day moving average price is $19.08 and its 200 day moving average price is $16.71. The firm has a market cap of $5.44 billion, a P/E ratio of 56.08, a price-to-earnings-growth ratio of 0.72 and a beta of 2.51. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Macerich Company will post 1.58 earnings per share for the current year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Tuesday, November 12th. Macerich’s dividend payout ratio is currently 174.36%.

Analyst Upgrades and Downgrades

MAC has been the topic of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Compass Point upped their target price on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Bank of America upped their target price on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Finally, Piper Sandler increased their price target on shares of Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.29.

Macerich Company Profile

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.