FY2017 EPS Estimates for Taubman Centers, Inc. Decreased by Jefferies Group (TCO)
Taubman Centers, Inc. (NYSE:TCO) – Equities research analysts at Jefferies Group reduced their FY2017 EPS estimates for shares of Taubman Centers in a research note issued to investors on Wednesday. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will post earnings of $3.67 per share for the year, down from their previous estimate of $3.69. Jefferies Group currently has a “Neutral” rating on the stock. Jefferies Group also issued estimates for Taubman Centers’ FY2019 earnings at $3.99 EPS.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The firm had revenue of $154.68 million for the quarter, compared to analysts’ expectations of $142.16 million. Taubman Centers had a negative return on equity of 110.46% and a net margin of 14.71%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 EPS. WARNING: This piece of content was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.dailypolitical.com/2017/10/18/fy2017-eps-estimates-for-taubman-centers-inc-decreased-by-jefferies-group-tco.html.
Several other brokerages have also recently commented on TCO. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub raised shares of Taubman Centers from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. KeyCorp cut their target price on shares of Taubman Centers from $85.00 to $79.00 and set an “overweight” rating on the stock in a report on Wednesday, June 28th. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a report on Monday, July 31st. Finally, BMO Capital Markets started coverage on shares of Taubman Centers in a report on Monday, September 11th. They issued an “underperform” rating on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Taubman Centers has an average rating of “Hold” and an average target price of $67.14.
Taubman Centers (NYSE TCO) opened at 50.78 on Monday. Taubman Centers has a 12 month low of $48.77 and a 12 month high of $78.65. The firm has a market cap of $3.08 billion, a PE ratio of 39.24 and a beta of 0.50. The company has a 50-day moving average price of $51.12 and a 200 day moving average price of $57.84.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. U S Global Investors Inc. bought a new stake in shares of Taubman Centers during the second quarter valued at approximately $1,146,000. Ameritas Investment Partners Inc. raised its holdings in shares of Taubman Centers by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 18,162 shares of the real estate investment trust’s stock valued at $1,082,000 after buying an additional 323 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Taubman Centers by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 89,317 shares of the real estate investment trust’s stock valued at $5,319,000 after buying an additional 1,777 shares during the last quarter. PointState Capital LP bought a new stake in shares of Taubman Centers during the second quarter valued at approximately $6,592,000. Finally, State Street Corp raised its holdings in shares of Taubman Centers by 0.5% during the second quarter. State Street Corp now owns 2,665,010 shares of the real estate investment trust’s stock valued at $158,705,000 after buying an additional 13,584 shares during the last quarter.
In other Taubman Centers news, Director Myron E. Ullman III bought 12,325 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $947,157.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 31.20% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.625 dividend. The ex-dividend date was Thursday, September 14th. This represents a $2.50 dividend on an annualized basis and a yield of 4.92%. Taubman Centers’s dividend payout ratio is currently 193.80%.
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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