Fmr LLC grew its stake in shares of Taubman Centers, Inc. (NYSE:TCO) by 7.6% during the 2nd quarter, Holdings Channel reports. The firm owned 1,666,623 shares of the real estate investment trust’s stock after buying an additional 117,876 shares during the period. Fmr LLC’s holdings in Taubman Centers were worth $97,930,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TCO. Heitman Real Estate Securities LLC boosted its stake in shares of Taubman Centers by 55.4% during 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 during the period. Renaissance Technologies LLC bought a new position in shares of Taubman Centers during the 2nd quarter worth approximately $3,955,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Taubman Centers by 7.9% during 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 during the period. Security Capital Research & Management Inc. boosted its stake in shares of Taubman Centers by 85.3% during 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 during the period. Finally, Paloma Partners Management Co bought a new position in shares of Taubman Centers during the 2nd quarter worth approximately $517,000.

Several brokerages have recently commented on TCO. Jefferies Financial Group reiterated a “hold” rating and set a $63.00 target price on shares of Taubman Centers in a research note on Wednesday, September 5th. Evercore ISI downgraded Taubman Centers from an “in-line” rating to an “underperform” rating and set a $63.00 target price for the company. in a research note on Monday, September 10th. They noted that the move was a valuation call. BMO Capital Markets reiterated a “hold” rating and set a $62.00 target price on shares of Taubman Centers in a research note on Monday, October 29th. Citigroup lifted their target price on Taubman Centers from $61.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, August 9th. Finally, Bank of America lifted their target price on Taubman Centers from $60.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, August 13th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Taubman Centers presently has an average rating of “Hold” and an average price target of $62.31.

In other news, Director Jonathan Litt purchased 1,000 shares of Taubman Centers stock in a transaction that occurred on Monday, November 5th. The stock was acquired at an average cost of $54.32 per share, for a total transaction of $54,320.00. Following the purchase, the director now directly owns 3,653 shares of the company’s stock, valued at approximately $198,430.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 31.20% of the company’s stock.

TCO opened at $55.01 on Friday. The firm has a market capitalization of $3.35 billion, a P/E ratio of 14.87, a PEG ratio of 3.76 and a beta of 0.64. Taubman Centers, Inc. has a 1 year low of $50.24 and a 1 year high of $66.61.

Taubman Centers (NYSE:TCO) last released its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.52). The firm had revenue of $159.12 million during the quarter, compared to the consensus estimate of $159.68 million. Taubman Centers had a net margin of 14.42% and a negative return on equity of 45.76%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.83 earnings per share. On average, equities analysts predict that Taubman Centers, Inc. will post 3.8 earnings per share for the current fiscal year.

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Taubman Centers Company Profile

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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Institutional Ownership by Quarter for Taubman Centers (NYSE:TCO)

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