Taubman Centers, Inc. (NYSE:TCO) Given Average Rating of “Hold” by Brokerages

Taubman Centers, Inc. (NYSE:TCO) has been assigned a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $57.18.

TCO has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Deutsche Bank set a $60.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a research note on Tuesday, June 11th. ValuEngine upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, June 22nd. Citigroup restated a “buy” rating on shares of Healthequity in a research note on Friday, June 28th. Finally, Morgan Stanley restated an “overweight” rating on shares of in a research note on Thursday, June 20th.

Taubman Centers stock traded down $0.54 during trading hours on Friday, reaching $39.88. 568,952 shares of the stock were exchanged, compared to its average volume of 470,023. The company has a market cap of $2.44 billion, a P/E ratio of 10.41, a P/E/G ratio of 2.77 and a beta of 0.72. Taubman Centers has a twelve month low of $39.32 and a twelve month high of $65.50. The stock has a 50 day moving average price of $42.01.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.65). The firm had revenue of $160.28 million for the quarter, compared to analyst estimates of $161.24 million. Taubman Centers had a negative return on equity of 24.45% and a net margin of 11.23%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.04 earnings per share. Analysts anticipate that Taubman Centers will post 3.65 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.675 dividend. The ex-dividend date was Thursday, June 13th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.77%. Taubman Centers’s payout ratio is currently 70.50%.

In related news, Director Mayree C. Clark purchased 3,000 shares of Taubman Centers stock in a transaction dated Tuesday, May 7th. The shares were bought at an average cost of $51.94 per share, for a total transaction of $155,820.00. Following 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 this link. Company insiders own 31.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Machina Capital S.A.S. bought a new position in Taubman Centers in the 2nd quarter valued at approximately $25,000. Quadrant Capital Group LLC raised its holdings in Taubman Centers by 174.6% in the 1st 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 during the last quarter. Marshall Wace North America L.P. bought a new position in Taubman Centers in the 1st quarter valued at approximately $37,000. Nalls Sherbakoff Group LLC bought a new position in Taubman Centers in the 4th quarter valued at approximately $37,000. Finally, First Hawaiian Bank raised its holdings in Taubman Centers by 28.4% in the 1st quarter. First Hawaiian Bank now owns 1,460 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 323 shares during the last quarter. Institutional investors own 99.16% of the company’s stock.

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.

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Analyst Recommendations for Taubman Centers (NYSE:TCO)

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