GSA Capital Partners LLP Has $422,000 Stake in Taubman Centers Inc. (TCO)
GSA Capital Partners LLP lowered its position in Taubman Centers Inc. (NYSE:TCO) by 53.7% during the second quarter, Holdings Channel reports. The fund owned 5,682 shares of the real estate investment trust’s stock after selling 6,587 shares during the period. GSA Capital Partners LLP’s holdings in Taubman Centers were worth $422,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Taubman Centers during the fourth quarter worth approximately $39,571,000. Renaissance Technologies LLC increased its position in shares of Taubman Centers by 2,125.2% in the first quarter. Renaissance Technologies LLC now owns 309,300 shares of the real estate investment trust’s stock valued at $22,031,000 after buying an additional 295,400 shares in the last quarter. Strs Ohio increased its position in shares of Taubman Centers by 51.8% in the second quarter. Strs Ohio now owns 784,330 shares of the real estate investment trust’s stock valued at $58,197,000 after buying an additional 267,709 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Taubman Centers by 18.5% in the first quarter. Prudential Financial Inc. now owns 1,471,070 shares of the real estate investment trust’s stock valued at $104,784,000 after buying an additional 230,153 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Taubman Centers by 819.9% in the first quarter. Nuveen Asset Management LLC now owns 240,244 shares of the real estate investment trust’s stock valued at $17,113,000 after buying an additional 214,127 shares in the last quarter. 96.95% of the stock is owned by institutional investors.
Shares of Taubman Centers Inc. (NYSE:TCO) traded up 0.39% during midday trading on Wednesday, hitting $74.07. 610,154 shares of the stock traded hands. The firm’s 50-day moving average is $77.68 and its 200 day moving average is $73.28. Taubman Centers Inc. has a 52 week low of $63.32 and a 52 week high of $81.68. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 38.98 and a beta of 0.91.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.05. Taubman Centers had a net margin of 21.45% and a return on equity of 173.60%. The business earned $158.90 million during the quarter, compared to analysts’ expectations of $147.45 million. During the same quarter in the prior year, the business posted $0.76 earnings per share. Taubman Centers’s revenue was up 20.4% compared to the same quarter last year. Equities analysts forecast that Taubman Centers Inc. will post $3.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $0.595 per share. The ex-dividend date is Tuesday, September 13th. This represents a $2.38 annualized dividend and a yield of 3.21%. Taubman Centers’s dividend payout ratio is 126.60%.
TCO has been the subject of several analyst reports. Mizuho reissued a “buy” rating on shares of Taubman Centers in a report on Thursday, May 26th. TheStreet raised shares of Taubman Centers from a “hold” rating to a “buy” rating in a report on Friday, July 1st. Zacks Investment Research raised shares of Taubman Centers from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Monday, July 18th. Credit Suisse Group AG reissued an “outperform” rating and set a $85.00 price target on shares of Taubman Centers in a report on Tuesday, August 2nd. Finally, Citigroup Inc. lifted their price target on shares of Taubman Centers from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, August 5th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Taubman Centers currently has a consensus rating of “Buy” and an average price target of $83.75.
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 (TRG) is a partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.
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