Taubman Centers, Inc. (NYSE:TCO) Receives Consensus Recommendation of “Hold” from Brokerages
Taubman Centers, Inc. (NYSE:TCO) has been given a consensus rating of “Hold” by the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $71.00.
TCO has been the topic of a number of research reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 target price on shares of Taubman Centers in a research report on Monday, April 17th. Zacks Investment Research raised shares of Taubman Centers from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. ValuEngine raised shares of Taubman Centers from a “hold” rating to a “buy” rating in a report on Tuesday, May 16th. Deutsche Bank AG lifted their price objective on shares of Taubman Centers from $68.00 to $71.00 and gave the company a “hold” rating in a report on Monday, May 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $56.00 price objective (down from $71.00) on shares of Taubman Centers in a report on Saturday, June 3rd.
In other Taubman Centers news, Director Myron E. Ullman III acquired 12,325 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were bought at an average cost of $56.90 per share, with a total value of $701,292.50. Following the completion of the acquisition, the director now directly owns 16,646 shares in the company, valued at approximately $947,157.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 31.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Taubman Centers by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,334 shares of the real estate investment trust’s stock valued at $616,000 after buying an additional 53 shares in the last quarter. World Asset Management Inc raised its position in Taubman Centers by 1.4% in the second quarter. World Asset Management Inc now owns 4,917 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 69 shares in the last quarter. State of Wisconsin Investment Board raised its position in Taubman Centers by 0.7% in the second quarter. State of Wisconsin Investment Board now owns 11,748 shares of the real estate investment trust’s stock valued at $700,000 after buying an additional 80 shares in the last quarter. Utah Retirement Systems raised its position in Taubman Centers by 0.7% in the second quarter. Utah Retirement Systems now owns 15,104 shares of the real estate investment trust’s stock valued at $900,000 after buying an additional 101 shares in the last quarter. Finally, Stifel Financial Corp raised its position in Taubman Centers by 1.7% in the first quarter. Stifel Financial Corp now owns 7,174 shares of the real estate investment trust’s stock valued at $473,000 after buying an additional 120 shares in the last quarter. 98.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Taubman Centers (TCO) opened at 54.95 on Friday. The company has a market capitalization of $3.34 billion, a PE ratio of 42.47 and a beta of 0.49. Taubman Centers has a 12 month low of $54.00 and a 12 month high of $80.86. The stock has a 50 day moving average price of $58.75 and a 200-day moving average price of $63.22.
Taubman Centers (NYSE:TCO) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. The business had revenue of $154.68 million for the quarter, compared to analyst estimates of $142.16 million. Taubman Centers had a net margin of 14.71% and a negative return on equity of 110.46%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company posted $1.04 earnings per share. Analysts forecast that Taubman Centers will post $1.15 EPS for the current year.
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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 (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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