KeyCorp Weighs in on Taubman Centers, Inc.’s Q4 2017 Earnings (TCO)

Taubman Centers, Inc. (NYSE:TCO) – Equities researchers at KeyCorp issued their Q4 2017 earnings estimates for shares of Taubman Centers in a research note issued on Wednesday. KeyCorp analyst T. Thomas expects that the real estate investment trust will post earnings of $1.04 per share for the quarter. KeyCorp also issued estimates for Taubman Centers’ Q1 2018 earnings at $0.95 EPS.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets raised shares of Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price target on the stock in a research note on Wednesday, December 13th. Zacks Investment Research raised shares of Taubman Centers from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. Morgan Stanley downgraded shares of Taubman Centers from an “equal weight” rating to an “underweight” rating in a research note on Monday, September 18th. Jefferies Group reaffirmed a “neutral” rating on shares of Taubman Centers in a research note on Friday, October 13th. Finally, JPMorgan Chase & Co. downgraded shares of Taubman Centers from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $64.00 to $57.00 in a research note on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $64.75.

Shares of Taubman Centers (NYSE:TCO) opened at $64.38 on Monday. The stock has a market cap of $3,863.75, a PE ratio of 61.31, a PEG ratio of 5.14 and a beta of 0.62. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of -21.77. Taubman Centers has a twelve month low of $44.78 and a twelve month high of $76.79.

Taubman Centers (NYSE:TCO) last released its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.06). The firm had revenue of $153.20 million during the quarter, compared to the consensus estimate of $155.95 million. Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. Taubman Centers’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Thursday, December 14th. Taubman Centers’s dividend payout ratio (DPR) is 238.10%.

In other news, COO William S. Taubman sold 35,000 shares of Taubman Centers stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total value of $2,193,800.00. Following the transaction, the chief operating officer now owns 67,633 shares of the company’s stock, valued at approximately $4,239,236.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cornelia Connelly Marakovits acquired 4,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was purchased at an average cost of $63.35 per share, for a total transaction of $253,400.00. Following the transaction, the director now owns 7,403 shares in the company, valued at $468,980.05. The disclosure for this purchase can be found here. Insiders have sold a total of 93,318 shares of company stock worth $5,849,897 in the last three months. Insiders own 31.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. State of Wisconsin Investment Board grew its position in shares of Taubman Centers by 0.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 11,748 shares of the real estate investment trust’s stock worth $700,000 after buying an additional 80 shares during the last quarter. Utah Retirement Systems grew its position in shares of Taubman Centers by 0.7% in the 2nd quarter. Utah Retirement Systems now owns 15,104 shares of the real estate investment trust’s stock worth $900,000 after buying an additional 101 shares during the last quarter. Comerica Bank grew its position in shares of Taubman Centers by 0.3% in the 2nd quarter. Comerica Bank now owns 50,343 shares of the real estate investment trust’s stock worth $3,049,000 after buying an additional 146 shares during the last quarter. GAM Holding AG grew its position in shares of Taubman Centers by 3.3% in the 2nd quarter. GAM Holding AG now owns 5,154 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 166 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Taubman Centers by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 94,784 shares of the real estate investment trust’s stock worth $5,644,000 after buying an additional 273 shares during the last quarter.

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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.

Earnings History and Estimates for Taubman Centers (NYSE:TCO)

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