Taubman Centers (TCO) PT Set at $66.00 by Deutsche Bank

Taubman Centers (NYSE:TCO) received a $66.00 price objective from stock analysts at Deutsche Bank in a research note issued to investors on Friday. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank’s price target indicates a potential upside of 24.67% from the company’s previous close.

A number of other equities analysts also recently commented on TCO. Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. Citigroup reduced their target price on shares of Taubman Centers from $66.00 to $57.00 and set a “hold” rating for the company in a report on Wednesday, November 21st. Morgan Stanley upgraded shares of Taubman Centers from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $51.50 to $50.00 in a report on Monday, November 26th. Bank of America boosted their target price on shares of Taubman Centers from $60.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, August 13th. Finally, Scotiabank upgraded shares of Taubman Centers from an “underperform” rating to a “sector perform” rating and set a $53.00 target price for the company in a report on Monday, November 26th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. Taubman Centers currently has an average rating of “Hold” and an average target price of $60.70.

Shares of Taubman Centers stock opened at $52.94 on Friday. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 5.05 and a beta of 0.64. Taubman Centers has a one year low of $49.84 and a one year high of $66.61.

Taubman Centers (NYSE:TCO) last announced its earnings results on Monday, October 29th. The real estate investment trust reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.52). The firm had revenue of $159.12 million during the quarter, compared to the consensus estimate of $159.68 million. Taubman Centers had a negative return on equity of 45.76% and a net margin of 14.42%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 earnings per share. On average, equities analysts predict that Taubman Centers will post 3.79 EPS for the current fiscal year.

In other Taubman Centers news, Director Jonathan Litt purchased 1,000 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were acquired at an average price of $54.32 per share, for a total transaction of $54,320.00. Following the completion of the purchase, the director now owns 3,653 shares of the company’s stock, valued at $198,430.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought 2,250 shares of company stock worth $122,363 in the last 90 days. Insiders own 31.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Arizona State Retirement System grew its stake in shares of Taubman Centers by 2.3% during the third quarter. Arizona State Retirement System now owns 43,308 shares of the real estate investment trust’s stock worth $2,591,000 after acquiring an additional 963 shares during the last quarter. AQR Capital Management LLC boosted its position in Taubman Centers by 7.6% in the third quarter. AQR Capital Management LLC now owns 14,976 shares of the real estate investment trust’s stock valued at $896,000 after buying an additional 1,060 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Taubman Centers by 1.2% in the third quarter. State Board of Administration of Florida Retirement System now owns 87,098 shares of the real estate investment trust’s stock valued at $5,211,000 after buying an additional 1,061 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Taubman Centers by 2.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 43,374 shares of the real estate investment trust’s stock valued at $2,595,000 after buying an additional 1,160 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in Taubman Centers by 6.0% in the second quarter. OppenheimerFunds Inc. now owns 21,128 shares of the real estate investment trust’s stock valued at $1,241,000 after buying an additional 1,199 shares during the last quarter.

About Taubman Centers

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.

See Also: How dollar cost averaging works

Analyst Recommendations for Taubman Centers (NYSE:TCO)

Receive News & Ratings for Taubman Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taubman Centers and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


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