Independent Order of Foresters Boosts Position in Taubman Centers, Inc. (TCO)
Independent Order of Foresters increased its stake in shares of Taubman Centers, Inc. (NYSE:TCO) by 70.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,648 shares of the real estate investment trust’s stock after buying an additional 19,200 shares during the period. Taubman Centers comprises 2.3% of Independent Order of Foresters’ holdings, making the stock its 14th largest position. Independent Order of Foresters owned approximately 0.08% of Taubman Centers worth $2,778,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in TCO. Teachers Advisors LLC boosted its stake in Taubman Centers by 9.6% in the fourth quarter. Teachers Advisors LLC now owns 115,448 shares of the real estate investment trust’s stock valued at $8,535,000 after buying an additional 10,080 shares during the period. Macquarie Group Ltd. boosted its stake in Taubman Centers by 18.1% in the fourth quarter. Macquarie Group Ltd. now owns 202,659 shares of the real estate investment trust’s stock valued at $14,983,000 after buying an additional 31,103 shares during the period. Capstone Asset Management Co. boosted its stake in Taubman Centers by 8.8% in the first quarter. Capstone Asset Management Co. now owns 6,076 shares of the real estate investment trust’s stock valued at $401,000 after buying an additional 490 shares during the period. Louisiana State Employees Retirement System boosted its stake in Taubman Centers by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the real estate investment trust’s stock valued at $1,010,000 after buying an additional 400 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Taubman Centers during the first quarter valued at about $1,509,000. 98.73% of the stock is owned by institutional investors.
Shares of Taubman Centers, Inc. (NYSE:TCO) opened at 57.12 on Tuesday. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 44.14 and a beta of 0.49. Taubman Centers, Inc. has a 12-month low of $55.85 and a 12-month high of $80.86. The stock has a 50 day moving average of $59.37 and a 200 day moving average of $63.94.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Taubman Centers had a net margin of 14.71% and a negative return on equity of 110.46%. The business had revenue of $154.68 million during the quarter, compared to analyst estimates of $142.16 million. During the same quarter last year, the firm posted $1.04 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts forecast that Taubman Centers, Inc. will post $1.15 earnings per share for the current year.
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TCO has been the subject of several research reports. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Jefferies Group LLC reissued a “hold” rating and issued a $70.00 price objective on shares of Taubman Centers in a research report on Monday, April 17th. ValuEngine raised shares of Taubman Centers from a “hold” rating to a “buy” rating in a research report on Tuesday, May 16th. Deutsche Bank AG boosted their price objective on shares of Taubman Centers from $68.00 to $71.00 and gave the company a “hold” rating in a research report on Monday, May 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $56.00 price objective (down from $71.00) on shares of Taubman Centers in a research report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $75.00.
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 (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.
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