Schroder Investment Management Group reduced its position in shares of Taubman Centers Inc. (NYSE:TCO) by 1.1% during the second quarter, Holdings Channel reports. The fund owned 43,216 shares of the real estate investment trust’s stock after selling 483 shares during the period. Schroder Investment Management Group owned 0.07% of Taubman Centers worth $3,207,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the stock. World Asset Management Inc boosted its stake in shares of Taubman Centers by 0.3% in the second quarter. World Asset Management Inc now owns 4,433 shares of the real estate investment trust’s stock worth $329,000 after buying an additional 13 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Taubman Centers by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 1,756 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 18 shares in the last quarter. BlackRock Japan Co. Ltd boosted its stake in Taubman Centers by 0.7% in the first quarter. BlackRock Japan Co. Ltd now owns 3,180 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 22 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Taubman Centers by 4.8% in the second quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 100 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its stake in Taubman Centers by 0.8% in the second quarter. State Treasurer State of Michigan now owns 24,200 shares of the real estate investment trust’s stock valued at $1,796,000 after buying an additional 200 shares in the last quarter. 96.95% of the stock is owned by institutional investors.

Taubman Centers Inc. (NYSE:TCO) traded down 0.76% on Wednesday, hitting $73.22. The stock had a trading volume of 226,992 shares. Taubman Centers Inc. has a 1-year low of $63.32 and a 1-year high of $81.68. The company has a 50-day moving average price of $77.68 and a 200-day moving average price of $73.28. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 38.54 and a beta of 0.91.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. Taubman Centers had a return on equity of 173.60% and a net margin of 21.45%. The company earned $158.90 million during the quarter, compared to analyst estimates of $147.45 million. During the same quarter last year, the firm posted $0.76 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts predict that Taubman Centers Inc. will post $3.75 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $0.595 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $2.38 annualized dividend and a yield of 3.23%. Taubman Centers’s dividend payout ratio is currently 126.60%.

Several equities research analysts recently weighed in on the stock. Morgan Stanley set a $81.00 price objective on shares of Taubman Centers and gave the stock a “buy” rating in a research report on Thursday, August 11th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Taubman Centers in a research report on Tuesday, August 2nd. Zacks Investment Research cut shares of Taubman Centers from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. TheStreet raised shares of Taubman Centers from a “hold” rating to a “buy” rating in a research report on Friday, July 1st. Finally, Citigroup Inc. upped their price objective on shares of Taubman Centers from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price 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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