Sei Investments Co. Boosts Position in Taubman Centers, Inc. (NYSE:TCO)

Sei Investments Co. raised its position in Taubman Centers, Inc. (NYSE:TCO) by 18.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,826 shares of the real estate investment trust’s stock after buying an additional 33,002 shares during the period. Sei Investments Co. owned approximately 0.35% of Taubman Centers worth $12,555,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Schwab Charles Investment Management Inc. raised its position in shares of Taubman Centers by 9.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 530,880 shares of the real estate investment trust’s stock worth $35,049,000 after buying an additional 43,795 shares during the period. State of Alaska Department of Revenue raised its position in shares of Taubman Centers by 30.6% in the first quarter. State of Alaska Department of Revenue now owns 30,110 shares of the real estate investment trust’s stock worth $1,987,000 after buying an additional 7,050 shares during the period. Madison International Realty Holdings LLC increased its stake in Taubman Centers by 12.5% in the first quarter. Madison International Realty Holdings LLC now owns 1,449,837 shares of the real estate investment trust’s stock worth $95,718,000 after buying an additional 161,200 shares during the period. Vanguard Group Inc. increased its stake in Taubman Centers by 2.2% in the first quarter. Vanguard Group Inc. now owns 9,465,848 shares of the real estate investment trust’s stock worth $624,935,000 after buying an additional 202,444 shares during the period. Finally, Utah Retirement Systems increased its stake in Taubman Centers by 4.9% in the first quarter. Utah Retirement Systems now owns 15,003 shares of the real estate investment trust’s stock worth $991,000 after buying an additional 700 shares during the period. 98.38% of the stock is owned by institutional investors and hedge funds.

Shares of Taubman Centers, Inc. (NYSE TCO) traded down 0.87% during midday trading on Friday, hitting $52.22. The stock had a trading volume of 1,025,388 shares. Taubman Centers, Inc. has a 52 week low of $51.62 and a 52 week high of $80.86. The stock has a market cap of $3.17 billion, a PE ratio of 40.36 and a beta of 0.49. The stock has a 50-day moving average of $57.84 and a 200 day moving average of $62.60.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $154.68 million for the quarter, compared to analysts’ expectations of $142.16 million. Taubman Centers had a net margin of 14.71% and a negative return on equity of 110.46%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. Analysts anticipate that Taubman Centers, Inc. will post $1.14 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Sei Investments Co. Boosts Position in Taubman Centers, Inc. (NYSE:TCO)” was first published by Community Financial News and is owned by of Community Financial News. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://www.com-unik.info/2017/08/19/taubman-centers-inc-nysetco-stake-raised-by-sei-investments-co-updated.html.

TCO has been the subject of a number of research analyst reports. ValuEngine upgraded Taubman Centers from a “hold” rating to a “buy” rating in a research report on Tuesday, May 16th. BidaskClub upgraded Taubman Centers from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Morgan Stanley restated an “equal weight” rating and issued a $56.00 target price (down from $71.00) on shares of Taubman Centers in a research report on Saturday, June 3rd. Boenning Scattergood restated a “hold” rating on shares of Taubman Centers in a research report on Monday, July 31st. Finally, Deutsche Bank AG upped their target price on Taubman Centers from $68.00 to $71.00 and gave the stock a “hold” rating in a research report on Monday, May 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $73.57.

In other news, Director Myron E. Ullman III purchased 12,325 shares of Taubman Centers stock in a transaction dated Wednesday, August 9th. The shares were bought at an average cost of $56.90 per share, with a total value of $701,292.50. Following the completion of the transaction, the director now directly owns 16,646 shares in the company, valued at approximately $947,157.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 31.20% 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.

Institutional Ownership by Quarter for Taubman Centers (NYSE:TCO)

What are top analysts saying about Taubman Centers Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Taubman Centers Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit