Janus Henderson Group PLC Sells 674,005 Shares of The Macerich Company (NYSE:MAC)

Janus Henderson Group PLC decreased its position in shares of The Macerich Company (NYSE:MAC) by 22.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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’s holdings in Macerich were worth $45,364,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in Macerich by 87.3% during the fourth quarter. FMR LLC now owns 22,047,786 shares of the real estate investment trust’s stock worth $439,192,000 after acquiring an additional 10,274,895 shares during the period. Wellington Management Group LLP increased its holdings in shares of Macerich by 845.9% during the fourth quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust’s stock worth $200,222,000 after purchasing an additional 8,988,665 shares during the period. Vanguard Group Inc. raised its position in shares of Macerich by 13.2% in the fourth quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust’s stock valued at $769,260,000 after buying an additional 4,503,509 shares in the last quarter. Bamco Inc. NY boosted its stake in shares of Macerich by 175.8% in the fourth quarter. Bamco Inc. NY now owns 4,675,471 shares of the real estate investment trust’s stock valued at $93,135,000 after buying an additional 2,980,051 shares during the period. Finally, Prudential Financial Inc. grew its position in Macerich by 463.6% during the fourth quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust’s stock worth $51,607,000 after buying an additional 2,131,030 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MAC. The Goldman Sachs Group cut their target price on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research 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. Truist Financial raised shares of Macerich from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Thursday, April 10th. Morgan Stanley reduced their price target on shares of Macerich from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Finally, Piper Sandler decreased their price objective on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, February 28th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Macerich currently has a consensus rating of “Hold” and an average target price of $18.95.

Macerich Stock Performance

NYSE:MAC opened at $16.07 on Wednesday. The stock’s 50-day moving average is $15.56 and its 200-day moving average is $18.50. The Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. 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 stock has a market cap of $4.06 billion, a P/E ratio of 41.21, a price-to-earnings-growth ratio of 0.71 and a beta of 2.13.

Macerich (NYSE:MAC) last posted its earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $249.22 million for the quarter, compared to analyst estimates of $221.61 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. Equities research analysts anticipate that The Macerich Company will post 1.55 earnings per share for the current year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.23%. The ex-dividend date is Tuesday, June 3rd. Macerich’s dividend payout ratio is currently -86.08%.

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.