Equities research analysts expect Taubman Centers, Inc. (NYSE:TCO) to announce sales of $144.90 million for the current quarter, Zacks Investment Research reports. Thirteen analysts have provided estimates for Taubman Centers’ earnings. The highest sales estimate is $150.40 million and the lowest is $136.52 million. Taubman Centers reported sales of $153.22 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.4%. The business is scheduled to announce its next quarterly earnings report after the market closes on Monday, October 29th.

According to Zacks, analysts expect that Taubman Centers will report full year sales of $588.98 million for the current financial year, with estimates ranging from $578.90 million to $608.19 million. For the next fiscal year, analysts forecast that the company will report sales of $619.03 million, with estimates ranging from $591.09 million to $676.15 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Taubman Centers.

Taubman Centers (NYSE:TCO) last released its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The company had revenue of $152.76 million for the quarter, compared to the consensus estimate of $151.94 million. Taubman Centers had a negative return on equity of 41.96% and a net margin of 11.95%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share.

A number of equities research analysts have weighed in on the company. Evercore ISI downgraded Taubman Centers from an “in-line” rating to an “underperform” rating and set a $63.00 price objective on the stock. in a report on Monday, September 10th. They noted that the move was a valuation call. Jefferies Financial Group reaffirmed a “hold” rating and set a $63.00 price objective on shares of Taubman Centers in a report on Wednesday, September 5th. Citigroup boosted their target price on Taubman Centers from $61.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Bank of America boosted their target price on Taubman Centers from $60.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, August 13th. Finally, Zacks Investment Research raised Taubman Centers from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $62.31.

Institutional investors and hedge funds have recently made changes to their positions in the company. Heitman Real Estate Securities LLC boosted its holdings in shares of Taubman Centers by 55.4% in the 2nd quarter. Heitman Real Estate Securities LLC now owns 352,066 shares of the real estate investment trust’s stock worth $23,690,000 after acquiring an additional 125,580 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Taubman Centers by 7.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 23,890 shares of the real estate investment trust’s stock worth $1,404,000 after acquiring an additional 1,753 shares in the last quarter. Security Capital Research & Management Inc. boosted its holdings in shares of Taubman Centers by 85.3% in the 2nd quarter. Security Capital Research & Management Inc. now owns 455,501 shares of the real estate investment trust’s stock worth $26,765,000 after acquiring an additional 209,725 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Taubman Centers in the 2nd quarter worth approximately $517,000. Finally, Skba Capital Management LLC boosted its holdings in shares of Taubman Centers by 6.5% in the 2nd quarter. Skba Capital Management LLC now owns 196,600 shares of the real estate investment trust’s stock worth $11,552,000 after acquiring an additional 12,000 shares in the last quarter.

NYSE TCO traded down $0.39 during trading on Tuesday, reaching $54.04. 523,982 shares of the company traded hands, compared to its average volume of 564,777. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 3.71 and a beta of 0.54. Taubman Centers has a 1-year low of $44.78 and a 1-year high of $66.61.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Monday, September 17th were issued a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 4.85%. The ex-dividend date was Friday, September 14th. Taubman Centers’s payout ratio is currently 70.81%.

About Taubman Centers

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.

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Earnings History and Estimates for Taubman Centers (NYSE:TCO)

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