JPMorgan Chase & Co. lowered shares of Taubman Centers (NYSE:TCO) from an overweight rating to a neutral rating in a report published on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has $42.00 price target on the real estate investment trust’s stock, down from their previous price target of $51.00.

A number of other brokerages have also weighed in on TCO. Mizuho set a $43.00 price target on Taubman Centers and gave the stock a hold rating in a research note on Friday, July 26th. Citigroup reduced their price target on Taubman Centers from $43.00 to $41.00 and set a neutral rating on the stock in a research note on Friday, September 27th. Morgan Stanley reduced their price target on Taubman Centers from $45.00 to $41.00 and set an equal weight rating on the stock in a research note on Tuesday, September 3rd. ValuEngine raised Taubman Centers from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. Finally, Deutsche Bank set a $60.00 price target on Taubman Centers and gave the stock a hold rating in a research note on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $52.00.

Shares of Taubman Centers stock opened at $36.27 on Tuesday. Taubman Centers has a fifty-two week low of $36.02 and a fifty-two week high of $59.39. The firm has a market cap of $2.24 billion, a PE ratio of 9.47, a P/E/G ratio of 2.58 and a beta of 0.72. The business’s fifty day moving average is $39.98 and its two-hundred day moving average is $44.39.

Taubman Centers (NYSE:TCO) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.73). Taubman Centers had a negative return on equity of 20.52% and a net margin of 9.68%. The business had revenue of $161.60 million for the quarter, compared to analysts’ expectations of $162.17 million. During the same period in the prior year, the company earned $0.92 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts forecast that Taubman Centers will post 3.68 EPS for the current fiscal year.

The company also recently announced a — dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.675 dividend. This represents a dividend yield of 6.7%. The ex-dividend date was Friday, September 13th. Taubman Centers’s dividend payout ratio (DPR) is currently 70.50%.

In other news, Director Michael J. Embler bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $39.11 per share, with a total value of $195,550.00. Following the transaction, the director now owns 9,301 shares of the company’s stock, valued at approximately $363,762.11. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 31.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in shares of Taubman Centers by 0.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 37,232 shares of the real estate investment trust’s stock worth $1,968,000 after buying an additional 215 shares during the period. Profund Advisors LLC raised its position in shares of Taubman Centers by 2.9% in the 2nd quarter. Profund Advisors LLC now owns 9,182 shares of the real estate investment trust’s stock worth $375,000 after buying an additional 261 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Taubman Centers by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 24,774 shares of the real estate investment trust’s stock worth $1,012,000 after buying an additional 349 shares during the period. California State Teachers Retirement System raised its position in shares of Taubman Centers by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 93,725 shares of the real estate investment trust’s stock worth $4,956,000 after buying an additional 425 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Taubman Centers by 1.2% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 38,850 shares of the real estate investment trust’s stock worth $1,586,000 after buying an additional 470 shares during the period. 99.60% of the stock is currently owned by institutional investors and hedge funds.

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 and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.

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Analyst Recommendations for Taubman Centers (NYSE:TCO)

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