Analyst Price Forecast Suggests 9.70% Upside
As of August 31, 2023, the average one-year price target for Macerich is 11.87. The forecasts range from a low of 8.08 to a high of $18.90. The average price target represents an increase of 9.70% from its latest reported closing price of 10.82.
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The projected annual revenue for Macerich is 838MM, an increase of 1.36%. The projected annual non-GAAP EPS is -0.09.
What is the Fund Sentiment?
There are 531 funds or institutions reporting positions in Macerich. This is a decrease of 16 owner(s) or 2.93% in the last quarter. Average portfolio weight of all funds dedicated to MAC is 0.11%, an increase of 10.04%. Total shares owned by institutions increased in the last three months by 7.93% to 226,860K shares. The put/call ratio of MAC is 0.59, indicating a bullish outlook.
What are Other Shareholders Doing?
Smead Capital Management holds 21,019K shares representing 9.76% ownership of the company. In it's prior filing, the firm reported owning 21,391K shares, representing a decrease of 1.77%. The firm increased its portfolio allocation in MAC by 4.09% over the last quarter.
Jpmorgan Chase holds 19,709K shares representing 9.16% ownership of the company. In it's prior filing, the firm reported owning 6,716K shares, representing an increase of 65.92%. The firm increased its portfolio allocation in MAC by 2,116.38% over the last quarter.
SMVLX - Smead Value Fund Investor Class Shares holds 18,635K shares representing 8.66% ownership of the company. In it's prior filing, the firm reported owning 18,794K shares, representing a decrease of 0.85%. The firm decreased its portfolio allocation in MAC by 13.96% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 9,057K shares representing 4.21% ownership of the company. In it's prior filing, the firm reported owning 9,439K shares, representing a decrease of 4.22%. The firm increased its portfolio allocation in MAC by 19.83% over the last quarter.
Goldman Sachs Group holds 8,732K shares representing 4.06% ownership of the company. In it's prior filing, the firm reported owning 1,587K shares, representing an increase of 81.83%. The firm increased its portfolio allocation in MAC by 1,801.85% over the last quarter.
Macerich Background Information
(This description is provided by the company.)
Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT), which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence on the West Coast and in Arizona, Chicago and the Metro New York to Washington, DC corridor. A recognized leader in sustainability, Macerich has earned CDP A List status for five years and achieved the GRESB Green Star rating in the North American Retail Sector for six consecutive years, 2015-2020.
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