Taubman Centers, Inc. (NYSE:TCO) CEO Robert S. Taubman sold 58,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total value of $3,635,440.00. Following the completion of the transaction, the chief executive officer now owns 16,953 shares in the company, valued at approximately $1,062,614.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Taubman Centers, Inc. (TCO) opened at $63.73 on Friday. Taubman Centers, Inc. has a one year low of $44.78 and a one 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. The stock has a market cap of $3,800.01, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 5.05 and a beta of 0.62.
Taubman Centers (NYSE:TCO) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.06). The business 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 company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. equities research analysts anticipate that Taubman Centers, Inc. will post 3.71 earnings per share for the current year.
Several equities analysts have recently commented on TCO shares. Zacks Investment Research raised Taubman Centers from a “sell” rating to a “hold” rating in a report on Monday, August 28th. BMO Capital Markets started coverage on Taubman Centers in a report on Monday, September 11th. They set an “underperform” rating for the company. Morgan Stanley lowered Taubman Centers from an “equal weight” rating to an “underweight” rating in a report on Monday, September 18th. Jefferies Group reiterated a “hold” rating and set a $57.00 price objective on shares of Taubman Centers in a research report on Tuesday, September 26th. Finally, J P Morgan Chase & Co downgraded Taubman Centers from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $64.00 to $57.00 in a research report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Taubman Centers has a consensus rating of “Hold” and a consensus target price of $64.75.
A number of large investors have recently bought and sold shares of TCO. Aperio Group LLC raised its position in Taubman Centers by 10.0% in the second quarter. Aperio Group LLC now owns 12,320 shares of the real estate investment trust’s stock worth $734,000 after purchasing an additional 1,125 shares in the last quarter. Russell Investments Group Ltd. raised its position in Taubman Centers by 121.2% in the second quarter. Russell Investments Group Ltd. now owns 86,821 shares of the real estate investment trust’s stock worth $5,182,000 after purchasing an additional 47,576 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Taubman Centers by 1.8% in the second quarter. Great West Life Assurance Co. Can now owns 65,342 shares of the real estate investment trust’s stock worth $3,888,000 after purchasing an additional 1,158 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Taubman Centers by 16.7% in the second quarter. Daiwa Securities Group Inc. now owns 5,600 shares of the real estate investment trust’s stock worth $333,000 after purchasing an additional 800 shares in the last quarter. Finally, World Asset Management Inc raised its position in Taubman Centers by 1.4% in the second quarter. World Asset Management Inc now owns 4,917 shares of the real estate investment trust’s stock worth $293,000 after purchasing an additional 69 shares in the last quarter.
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About Taubman Centers
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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