Taubman Centers (NYSE:TCO) PT Set at $45.00 by Morgan Stanley

Morgan Stanley set a $45.00 price target on Taubman Centers (NYSE:TCO) in a research note published on Thursday morning, Stock Target Advisor reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the company. Deutsche Bank set a $60.00 price objective on Taubman Centers and gave the company a hold rating in a report on Tuesday, June 11th. Zacks Investment Research cut Taubman Centers from a hold rating to a sell rating in a report on Tuesday, May 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $58.45.

Shares of NYSE TCO opened at $42.20 on Thursday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 2.87 and a beta of 0.82. Taubman Centers has a 52-week low of $41.84 and a 52-week high of $65.50.

Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.65). The company had revenue of $160.28 million for the quarter, compared to the consensus estimate of $161.24 million. Taubman Centers had a net margin of 11.23% and a negative return on equity of 24.45%. The firm’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 earnings per share. On average, equities research analysts anticipate that Taubman Centers will post 3.69 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.675 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.40%. Taubman Centers’s dividend payout ratio (DPR) is presently 70.50%.

In other Taubman Centers news, Director Mayree C. Clark bought 3,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $51.94 per share, for a total transaction of $155,820.00. Following the completion of the purchase, the director now owns 6,478 shares in the company, valued at approximately $336,467.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 31.20% of the company’s stock.

Large investors have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in shares of Taubman Centers by 174.6% in the first quarter. Quadrant Capital Group LLC now owns 670 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 426 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in Taubman Centers in the first quarter worth about $37,000. Nalls Sherbakoff Group LLC acquired a new stake in Taubman Centers in the fourth quarter worth about $37,000. Pearl River Capital LLC acquired a new stake in Taubman Centers in the fourth quarter worth about $46,000. Finally, First Hawaiian Bank increased its position in Taubman Centers by 28.4% in the first quarter. First Hawaiian Bank now owns 1,460 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 323 shares during the period. Institutional investors own 99.50% of the company’s stock.

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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