Taubman Centers Inc. (TCO) Stake Maintained by Arizona State Retirement System
Arizona State Retirement System maintained its position in shares of Taubman Centers Inc. (NYSE:TCO) during the third quarter, Holdings Channel reports. The firm owned 25,145 shares of the real estate investment trust’s stock at the end of the third quarter. Arizona State Retirement System’s holdings in Taubman Centers were worth $1,871,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Quantitative Investment Management LLC bought a new position in shares of Taubman Centers during the third quarter worth approximately $1,086,000. First Trust Advisors LP boosted its stake in Taubman Centers by 13.1% in the third quarter. First Trust Advisors LP now owns 31,012 shares of the real estate investment trust’s stock valued at $2,308,000 after buying an additional 3,596 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Taubman Centers by 1.8% in the third quarter. Mutual of America Capital Management LLC now owns 45,764 shares of the real estate investment trust’s stock valued at $3,405,000 after buying an additional 809 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its stake in Taubman Centers by 28.1% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 14,919 shares of the real estate investment trust’s stock valued at $1,110,000 after buying an additional 3,271 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in Taubman Centers by 62.5% in the third quarter. Quantbot Technologies LP now owns 2,688 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 1,034 shares during the last quarter. 98.52% of the stock is owned by institutional investors and hedge funds.
Taubman Centers Inc. (NYSE:TCO) traded down 1.49% during midday trading on Wednesday, hitting $72.67. The stock had a trading volume of 349,107 shares. Taubman Centers Inc. has a one year low of $63.32 and a one year high of $81.68. The firm has a market cap of $4.39 billion, a PE ratio of 42.45 and a beta of 0.61. The stock has a 50-day moving average price of $72.21 and a 200 day moving average price of $74.05.
Taubman Centers (NYSE:TCO) last posted its earnings results on Tuesday, November 1st. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Taubman Centers had a return on equity of 370.66% and a net margin of 18.19%. The business earned $148.02 million during the quarter, compared to analyst estimates of $149.43 million. During the same quarter last year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts predict that Taubman Centers Inc. will post $3.84 earnings per share for the current year.
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Several equities research analysts recently weighed in on TCO shares. Credit Suisse Group AG restated an “outperform” rating and set a $85.00 target price on shares of Taubman Centers in a research note on Tuesday, August 2nd. Citigroup Inc. boosted their target price on Taubman Centers from $76.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Morgan Stanley set a $81.00 target price on Taubman Centers and gave the stock a “buy” rating in a research note on Thursday, August 11th. BTIG Research started coverage on Taubman Centers in a research note on Thursday, August 25th. They set a “neutral” rating for the company. Finally, Jefferies Group boosted their target price on Taubman Centers from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, August 31st. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $82.60.
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 (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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