Fox Run Management L.L.C. Sells 1,500 Shares of Taubman Centers, Inc. (TCO)

Fox Run Management L.L.C. lessened its position in Taubman Centers, Inc. (NYSE:TCO) by 26.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,100 shares of the real estate investment trust’s stock after selling 1,500 shares during the quarter. Fox Run Management L.L.C.’s holdings in Taubman Centers were worth $204,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in TCO. Creative Planning raised its position in Taubman Centers by 8.0% in the 2nd quarter. Creative Planning now owns 2,790 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 206 shares during the last quarter. Virtu KCG Holdings LLC acquired a new stake in Taubman Centers in the 2nd quarter valued at approximately $227,000. Riverhead Capital Management LLC raised its position in Taubman Centers by 83.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,397 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 1,997 shares during the last quarter. Shelton Capital Management acquired a new stake in Taubman Centers in the 2nd quarter valued at approximately $269,000. Finally, LS Investment Advisors LLC raised its position in Taubman Centers by 16.8% in the 2nd quarter. LS Investment Advisors LLC now owns 4,805 shares of the real estate investment trust’s stock valued at $286,000 after buying an additional 692 shares during the last quarter.

In other Taubman Centers news, Director Myron E. Ullman III bought 12,325 shares of Taubman Centers stock in a transaction dated Wednesday, August 9th. The stock was bought at an average cost of $56.90 per share, for a total transaction of $701,292.50. Following the purchase, the director now owns 16,646 shares of the company’s stock, valued at approximately $947,157.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 31.20% of the company’s stock.

TCO has been the topic of a number of recent research reports. BidaskClub lowered Taubman Centers from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research lowered Taubman Centers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a research report on Monday, July 31st. BMO Capital Markets initiated coverage on Taubman Centers in a research report on Monday, September 11th. They issued an “underperform” rating on the stock. Finally, Morgan Stanley lowered Taubman Centers from an “equal weight” rating to an “underweight” rating in a research report on Monday, September 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $67.14.

Taubman Centers, Inc. (TCO) opened at $46.35 on Monday. The firm has a market capitalization of $2,814.03, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 3.75 and a beta of 0.52. Taubman Centers, Inc. has a 1 year low of $44.78 and a 1 year high of $76.79. The company has a debt-to-equity ratio of -21.77, a quick ratio of 0.35 and a current ratio of 0.35.

Taubman Centers (NYSE:TCO) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.06). The company had revenue of $153.20 million for the quarter, compared to analyst estimates of $155.95 million. Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.94 EPS. sell-side analysts forecast that Taubman Centers, Inc. will post 3.71 earnings per share for the current fiscal year.

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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)

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