Taubman Centers, Inc. to Post Q2 2018 Earnings of $0.90 Per Share, Boenning Scattergood Forecasts (TCO)

Taubman Centers, Inc. (NYSE:TCO) – Analysts at Boenning Scattergood cut their Q2 2018 earnings per share (EPS) estimates for shares of Taubman Centers in a research note issued on Tuesday. Boenning Scattergood analyst F. Van. Dijkum now expects that the real estate investment trust will post earnings of $0.90 per share for the quarter, down from their prior forecast of $0.95. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Taubman Centers’ Q3 2018 earnings at $0.95 EPS, FY2018 earnings at $3.85 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $0.89 EPS, Q3 2019 earnings at $0.97 EPS, Q4 2019 earnings at $1.11 EPS and FY2019 earnings at $3.92 EPS.

TCO has been the topic of several other research reports. Zacks Investment Research cut Taubman Centers from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. JPMorgan Chase & Co. cut Taubman Centers from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $64.00 to $57.00 in a research report on Tuesday, September 26th. Morgan Stanley cut Taubman Centers from an “equal weight” rating to an “underweight” rating in a research report on Monday, September 18th. BMO Capital Markets upgraded Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price target on the stock in a research report on Wednesday, December 13th. Finally, Mizuho restated a “neutral” rating on shares of Taubman Centers in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $65.00.

Taubman Centers (TCO) traded up $1.35 on Wednesday, hitting $62.69. The stock had a trading volume of 801,700 shares, compared to its average volume of 1,234,813. The firm has a market capitalization of $3,720.00, a PE ratio of 59.14, a P/E/G ratio of 5.02 and a beta of 0.61. Taubman Centers has a twelve month low of $44.78 and a twelve month high of $73.41. The company has a debt-to-equity ratio of -21.77, a current ratio of 0.35 and a quick ratio of 0.35.

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 Zacks’ consensus estimate of $0.89 by ($0.06). Taubman Centers had a return on equity of 66.09% and a net margin of 0.34%. The firm had revenue of $153.20 million for the quarter, compared to analyst estimates of $155.95 million. During the same quarter last year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 3.99%. The ex-dividend date was Thursday, December 14th. Taubman Centers’s dividend payout ratio (DPR) is presently 235.85%.

In other Taubman Centers news, CEO Robert S. Taubman sold 58,000 shares of Taubman Centers stock in a transaction that occurred on 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 sale, the chief executive officer now owns 16,953 shares of the company’s stock, valued at approximately $1,062,614.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the chief operating officer now directly owns 67,633 shares in the company, valued at approximately $4,239,236.44. The disclosure for this sale can be found here. Insiders sold a total of 93,318 shares of company stock worth $5,849,897 in the last 90 days. 31.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System boosted its holdings in Taubman Centers by 6.2% in the 3rd quarter. California Public Employees Retirement System now owns 154,277 shares of the real estate investment trust’s stock valued at $7,668,000 after purchasing an additional 9,064 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Taubman Centers in the 3rd quarter valued at approximately $368,000. Alyeska Investment Group L.P. purchased a new stake in Taubman Centers in the 3rd quarter valued at approximately $883,000. Asset Management One Co. Ltd. boosted its holdings in Taubman Centers by 1.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 131,663 shares of the real estate investment trust’s stock valued at $6,615,000 after purchasing an additional 1,458 shares in the last quarter. Finally, AMP Capital Investors Ltd boosted its holdings in Taubman Centers by 228.3% in the 3rd quarter. AMP Capital Investors Ltd now owns 67,728 shares of the real estate investment trust’s stock valued at $3,366,000 after purchasing an additional 47,100 shares in 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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