HGI Capital Management LLC Invests $663,000 in Taubman Centers, Inc. (NYSE:TCO)

HGI Capital Management LLC acquired a new position in Taubman Centers, Inc. (NYSE:TCO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,246 shares of the real estate investment trust’s stock, valued at approximately $663,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TCO. Two Sigma Advisers LP boosted its holdings in shares of Taubman Centers by 51.7% during the fourth quarter. Two Sigma Advisers LP now owns 20,634 shares of the real estate investment trust’s stock worth $939,000 after acquiring an additional 7,035 shares during the period. Amalgamated Bank boosted its position in shares of Taubman Centers by 59.3% during the 4th quarter. Amalgamated Bank now owns 13,894 shares of the real estate investment trust’s stock worth $632,000 after purchasing an additional 5,170 shares in the last quarter. Norges Bank bought a new position in shares of Taubman Centers during the 4th quarter worth about $45,118,000. Geode Capital Management LLC boosted its position in shares of Taubman Centers by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 755,110 shares of the real estate investment trust’s stock worth $34,349,000 after purchasing an additional 53,984 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Taubman Centers by 363.2% during the 4th quarter. Deutsche Bank AG now owns 623,392 shares of the real estate investment trust’s stock worth $28,356,000 after purchasing an additional 488,820 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

NYSE TCO traded up $0.77 during trading hours on Tuesday, hitting $40.39. The company’s stock had a trading volume of 24,142 shares, compared to its average volume of 428,808. Taubman Centers, Inc. has a 52 week low of $38.56 and a 52 week high of $65.50. The stock has a market capitalization of $2.45 billion, a P/E ratio of 10.54, a PEG ratio of 2.71 and a beta of 0.71. The company’s 50-day moving average price is $40.92.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.73). The business had revenue of $161.60 million during 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%. Taubman Centers’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 EPS. Equities analysts predict that Taubman Centers, Inc. will post 3.69 EPS for the current fiscal year.

Several brokerages recently weighed in on TCO. ValuEngine cut shares of Taubman Centers from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 22nd. Citigroup set a $43.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a research report on Friday, June 28th. Deutsche Bank set a $60.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a research report on Tuesday, June 11th. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Finally, Mizuho set a $43.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $56.73.

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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Institutional Ownership by Quarter for Taubman Centers (NYSE:TCO)

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