U S Global Investors Inc Has $1.41 Million Position in Taubman Centers, Inc. (TCO)

U S Global Investors Inc lowered its position in Taubman Centers, Inc. (NYSE:TCO) by 15.1% in the third quarter, HoldingsChannel.com reports. The firm owned 23,593 shares of the real estate investment trust’s stock after selling 4,207 shares during the period. U S Global Investors Inc’s holdings in Taubman Centers were worth $1,412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Taubman Centers by 2.0% in the third quarter. BlackRock Inc. now owns 7,078,007 shares of the real estate investment trust’s stock valued at $423,477,000 after purchasing an additional 141,423 shares during the period. Cbre Clarion Securities LLC boosted its stake in shares of Taubman Centers by 13.3% in the second quarter. Cbre Clarion Securities LLC now owns 3,305,710 shares of the real estate investment trust’s stock valued at $194,244,000 after purchasing an additional 389,099 shares during the period. FMR LLC boosted its stake in shares of Taubman Centers by 7.6% in the second quarter. FMR LLC now owns 1,666,623 shares of the real estate investment trust’s stock valued at $97,930,000 after purchasing an additional 117,876 shares during the period. AMP Capital Investors Ltd boosted its stake in shares of Taubman Centers by 15.6% in the third quarter. AMP Capital Investors Ltd now owns 1,175,430 shares of the real estate investment trust’s stock valued at $68,528,000 after purchasing an additional 158,449 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Taubman Centers by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 969,805 shares of the real estate investment trust’s stock valued at $56,987,000 after purchasing an additional 5,691 shares during the period.

NYSE:TCO opened at $53.02 on Tuesday. Taubman Centers, Inc. has a 1 year low of $49.84 and a 1 year high of $66.61. The firm has a market capitalization of $3.23 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 5.11 and a beta of 0.64.

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

Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a research note on Tuesday, November 20th. Scotiabank initiated coverage on shares of Taubman Centers in a report on Tuesday, October 16th. They issued an “underperform” rating on the stock. Citigroup raised their target price on shares of Taubman Centers from $61.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. BMO Capital Markets reaffirmed a “hold” rating and issued a $62.00 target price on shares of Taubman Centers in a report on Monday, October 29th. Finally, Sandler O’Neill raised shares of Taubman Centers from a “hold” rating to a “buy” rating and raised their target price for the company from $58.00 to $64.00 in a report on Monday, October 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Taubman Centers currently has an average rating of “Hold” and an average target price of $59.99.

In related news, Director Jonathan Litt acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The stock was acquired at an average cost of $54.32 per share, with a total value of $54,320.00. Following the completion of the purchase, the director now directly owns 3,653 shares in the company, valued at $198,430.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders acquired 2,250 shares of company stock valued at $122,363. Corporate insiders own 31.20% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Taubman Centers (NYSE:TCO)

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