Taubman Centers, Inc. (NYSE:TCO)‘s stock had its “hold” rating restated by investment analysts at Jefferies Group LLC in a research note issued on Monday, April 17th. They presently have a $70.00 target price on the real estate investment trust’s stock. Jefferies Group LLC’s price target points to a potential upside of 17.65% from the company’s previous close.
TCO has been the subject of a number of other research reports. Zacks Investment Research downgraded Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, January 3rd. Morgan Stanley downgraded Taubman Centers from an “overweight” rating to an “equal weight” rating and set a $71.00 price objective for the company. in a report on Thursday, February 16th. Oppenheimer Holdings Inc. reiterated an “outperform” rating on shares of Taubman Centers in a report on Tuesday, December 20th. Deutsche Bank AG reduced their price target on Taubman Centers from $72.00 to $68.00 and set a “hold” rating for the company in a report on Tuesday, March 21st. Finally, Mizuho restated a “buy” rating on shares of Taubman Centers in a report on Friday, December 23rd. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Taubman Centers has a consensus rating of “Hold” and an average price target of $78.13.
Taubman Centers (NYSE:TCO) traded up 0.63% during mid-day trading on Monday, hitting $59.50. The stock had a trading volume of 284,367 shares. The company has a 50 day moving average price of $63.34 and a 200 day moving average price of $68.83. Taubman Centers has a one year low of $57.85 and a one year high of $81.68. The stock has a market cap of $3.61 billion, a P/E ratio of 36.17 and a beta of 0.57.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by $0.04. The firm had revenue of $149.10 million during the quarter, compared to the consensus estimate of $146.28 million. Taubman Centers had a negative return on equity of 618.56% and a net margin of 18.48%. Taubman Centers’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. On average, equities analysts anticipate that Taubman Centers will post $1.16 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in TCO. BlackRock Inc. boosted its position in shares of Taubman Centers by 5,443.6% in the first quarter. BlackRock Inc. now owns 6,413,320 shares of the real estate investment trust’s stock valued at $423,407,000 after buying an additional 6,297,632 shares during the last quarter. RidgeWorth Capital Management LLC purchased a new position in shares of Taubman Centers during the first quarter valued at about $45,542,000. Norges Bank bought a new position in Taubman Centers during the fourth quarter worth $38,190,000. FMR LLC boosted its position in Taubman Centers by 36.3% in the fourth quarter. FMR LLC now owns 1,900,849 shares of the real estate investment trust’s stock worth $140,530,000 after buying an additional 506,061 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in Taubman Centers by 1,286.0% in the first quarter. ProShare Advisors LLC now owns 302,879 shares of the real estate investment trust’s stock worth $1,427,000 after buying an additional 281,026 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.
Taubman Centers Company Profile
Taubman Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s segment is focused on owning, developing and managing regional shopping centers. The Taubman Realty Group Limited Partnership (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.
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