Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in shares of Taubman Centers, Inc. (NYSE:TCO) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 253,050 shares of the real estate investment trust’s stock after buying an additional 20,700 shares during the quarter. Taubman Centers accounts for about 1.4% of Meag Munich Ergo Kapitalanlagegesellschaft MBH’s portfolio, making the stock its 13th biggest holding. Meag Munich Ergo Kapitalanlagegesellschaft MBH owned about 0.41% of Taubman Centers worth $11,597,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of TCO. Renaissance Technologies LLC bought a new position in shares of Taubman Centers during the 2nd quarter worth approximately $3,955,000. FMR LLC boosted its stake in shares of Taubman Centers by 7.6% during the 2nd quarter. FMR LLC now owns 1,666,623 shares of the real estate investment trust’s stock worth $97,930,000 after acquiring an additional 117,876 shares during the period. Northern Trust Corp boosted its stake in shares of Taubman Centers by 4.9% during the 2nd quarter. Northern Trust Corp now owns 880,834 shares of the real estate investment trust’s stock worth $51,758,000 after acquiring an additional 41,046 shares during the period. State of New Jersey Common Pension Fund D bought a new position in shares of Taubman Centers during the 3rd quarter worth approximately $598,000. Finally, Oakbrook Investments LLC bought a new position in shares of Taubman Centers during the 3rd quarter worth approximately $243,000.
Several research analysts have recently commented on TCO shares. Sandler O’Neill upgraded Taubman Centers from a “hold” rating to a “buy” rating and lifted their target price for the stock from $58.00 to $64.00 in a research note on Monday, October 22nd. Citigroup reduced their target price on Taubman Centers from $66.00 to $57.00 and set a “hold” rating for the company in a research note on Wednesday, November 21st. Mizuho reiterated a “hold” rating and set a $55.00 target price on shares of Taubman Centers in a research note on Monday, December 3rd. Zacks Investment Research downgraded Taubman Centers from a “hold” rating to a “sell” rating in a research note on Saturday, January 5th. Finally, Morgan Stanley upgraded Taubman Centers from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $51.50 to $50.00 in a research note on Monday, November 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $60.17.
Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The firm had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $168.91 million. Taubman Centers had a negative return on equity of 45.76% and a net margin of 14.42%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. 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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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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