Pacer Advisors Inc. Has $558,000 Position in Taubman Centers, Inc. (TCO)
Pacer Advisors Inc. boosted its position in shares of Taubman Centers, Inc. (NYSE:TCO) by 9.4% during the third quarter, Holdings Channel reports. The fund owned 7,500 shares of the real estate investment trust’s stock after buying an additional 643 shares during the period. Pacer Advisors Inc.’s holdings in Taubman Centers were worth $558,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Checchi Capital Advisers LLC boosted its position 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 worth $130,000 after buying an additional 18 shares during the last quarter. Daiwa Securities Group Inc. boosted its position 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 worth $163,000 after buying an additional 100 shares during the last quarter. Quantbot Technologies LP boosted its position 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 worth $200,000 after buying an additional 1,034 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new position in Taubman Centers during the third quarter worth $212,000. Finally, Oakbrook Investments LLC purchased a new position in Taubman Centers during the second quarter worth $217,000. 98.41% of the stock is owned by institutional investors.
Shares of Taubman Centers, Inc. (NYSE:TCO) traded up 0.40% during trading on Friday, reaching $72.83. 194,387 shares of the company’s stock were exchanged. The company has a market capitalization of $4.40 billion, a PE ratio of 42.54 and a beta of 0.61. Taubman Centers, Inc. has a 52-week low of $63.32 and a 52-week high of $81.68. The company has a 50 day moving average price of $73.69 and a 200-day moving average price of $74.85.
Taubman Centers (NYSE:TCO) last announced its earnings results on Tuesday, November 1st. The real estate investment trust reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. The firm had revenue of $148.02 million for the quarter, compared to the consensus estimate of $149.43 million. Taubman Centers had a net margin of 18.19% and a return on equity of 370.66%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. On average, equities analysts forecast that Taubman Centers, Inc. will post $1.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were issued a $0.595 dividend. The ex-dividend date was Tuesday, December 13th. This represents a $2.38 annualized dividend and a yield of 3.27%. Taubman Centers’s dividend payout ratio (DPR) is presently 140.00%.
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A number of research firms have weighed in on TCO. Mizuho reissued a “buy” rating on shares of Taubman Centers in a research report on Friday, December 23rd. Goldman Sachs Group, Inc. (The) cut shares of Taubman Centers from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $81.00 to $77.00 in a research report on Wednesday. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Tuesday, January 3rd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating on shares of Taubman Centers in a research report on Tuesday, December 20th. Finally, TheStreet cut shares of Taubman Centers from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $81.38.
In related news, Director Craig M. Hatkoff sold 2,400 shares of Taubman Centers stock in a transaction on Thursday, December 22nd. The shares were sold at an average price of $72.78, for a total value of $174,672.00. Following the transaction, the director now owns 4,839 shares in the company, valued at approximately $352,182.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.20% of the stock is currently owned by corporate insiders.
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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