Shares of Taubman Centers, Inc. (NYSE:TCO) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $50.50.
Several analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of Taubman Centers from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $51.00 to $42.00 in a research report on Tuesday, October 8th. Citigroup decreased their price objective on shares of Taubman Centers from $43.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. ValuEngine raised shares of Taubman Centers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Sandler O’Neill downgraded shares of Taubman Centers from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, Mizuho set a $43.00 price target on shares of Taubman Centers and gave the stock a “hold” rating in a report on Friday, July 26th.
In other news, Director Michael J. Embler bought 5,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $39.11 per share, with a total value of $195,550.00. Following the transaction, the director now directly owns 9,301 shares in the company, valued at approximately $363,762.11. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 31.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Machina Capital S.A.S. purchased a new stake in shares of Taubman Centers during the second quarter worth approximately $25,000. DekaBank Deutsche Girozentrale acquired a new stake in Taubman Centers in the second quarter valued at $34,000. Marshall Wace North America L.P. acquired a new stake in Taubman Centers in the first quarter valued at $37,000. NumerixS Investment Technologies Inc acquired a new stake in Taubman Centers in the second quarter valued at $86,000. Finally, Commonwealth Bank of Australia grew its holdings in Taubman Centers by 36.7% in the second quarter. Commonwealth Bank of Australia now owns 4,100 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 1,100 shares during the last quarter. 99.60% of the stock is owned by institutional investors and hedge funds.
TCO stock opened at $36.84 on Monday. Taubman Centers has a one year low of $36.02 and a one year high of $59.39. The company’s fifty day moving average price is $39.68 and its 200-day moving average price is $43.75. The company has a market capitalization of $2.25 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 2.49 and a beta of 0.72.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.73). The firm had revenue of $161.60 million for the quarter, compared to the consensus estimate of $162.17 million. Taubman Centers had a net margin of 9.68% and a negative return on equity of 20.52%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. As a group, equities analysts expect 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. Shareholders of record on Monday, September 16th were given a $0.675 dividend. This represents a yield of 6.7%. The ex-dividend date was Friday, September 13th. Taubman Centers’s dividend payout ratio is currently 70.50%.
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 and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.
Further Reading: Market Perform
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