Taubman Centers, Inc. (NYSE:TCO) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday, July 11th.
TCO has been the subject of several other research reports. Deutsche Bank AG dropped their price target on Taubman Centers from $72.00 to $68.00 and set a “hold” rating for the company in a research note on Tuesday, March 21st. Zacks Investment Research lowered Taubman Centers from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. ValuEngine raised Taubman Centers from a “hold” rating to a “buy” rating in a research note on Tuesday, May 16th. Jefferies Group LLC reissued a “hold” rating and issued a $70.00 target price on shares of Taubman Centers in a research note on Monday, April 17th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $56.00 target price (down previously from $71.00) on shares of Taubman Centers in a research note on Saturday, June 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Taubman Centers presently has an average rating of “Hold” and an average price target of $73.57.
Taubman Centers (NYSE:TCO) traded down 0.72% during mid-day trading on Tuesday, hitting $54.95. The stock had a trading volume of 722,435 shares. The firm’s 50-day moving average is $58.75 and its 200 day moving average is $63.22. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 42.47 and a beta of 0.49. Taubman Centers has a 12 month low of $54.00 and a 12 month high of $80.86.
Taubman Centers (NYSE:TCO) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Taubman Centers had a negative return on equity of 110.46% and a net margin of 14.71%. The business had revenue of $154.68 million during the quarter, compared to analysts’ expectations of $142.16 million. During the same period in the previous year, the business earned $1.04 earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. Equities analysts anticipate that Taubman Centers will post $1.15 EPS for the current fiscal year.
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In other news, Director Myron E. Ullman III bought 12,325 shares of Taubman Centers stock in a transaction on Wednesday, August 9th. The shares were purchased at an average price of $56.90 per share, for a total transaction of $701,292.50. Following the acquisition, the director now owns 16,646 shares of the company’s stock, valued at $947,157.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 31.20% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TCO. OxFORD Asset Management LLP increased its position in Taubman Centers by 129.4% in the second quarter. OxFORD Asset Management LLP now owns 28,931 shares of the real estate investment trust’s stock worth $1,723,000 after buying an additional 16,320 shares during the period. Dimensional Fund Advisors LP increased its position in Taubman Centers by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 895,612 shares of the real estate investment trust’s stock worth $53,335,000 after buying an additional 29,320 shares during the period. Virtu KCG Holdings LLC bought a new stake in Taubman Centers during the second quarter valued at $227,000. Teachers Retirement System of The State of Kentucky increased its stake in Taubman Centers by 10.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 14,340 shares of the real estate investment trust’s stock valued at $854,000 after buying an additional 1,300 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Taubman Centers by 11.0% in the second quarter. Parametric Portfolio Associates LLC now owns 67,614 shares of the real estate investment trust’s stock valued at $4,026,000 after buying an additional 6,700 shares during the last quarter. Hedge funds and other institutional investors own 98.73% of the company’s stock.
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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