Taubman Centers’s Neutral Rating Reaffirmed at JPMorgan Chase & Co. (TCO)
Taubman Centers (NYSE:TCO)‘s stock had its “neutral” rating reiterated by JPMorgan Chase & Co. in a research note issued on Wednesday. They currently have a $77.00 price target on the stock, up from their previous price target of $74.00. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 3.54% from the company’s current price.
Shares of Taubman Centers (NYSE:TCO) traded down 0.22% on Wednesday, hitting $74.208. 190,503 shares of the company’s stock traded hands. Taubman Centers has a 52 week low of $61.43 and a 52 week high of $80.70. The stock’s 50-day moving average is $73.98 and its 200-day moving average is $69.3. The company has a market cap of $4.695 billion and a P/E ratio of 10.57.
Taubman Centers (NYSE:TCO) last released its earnings data on Thursday, April 24th. The company reported $0.90 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.90. The company had revenue of $174.78 million for the quarter, compared to the consensus estimate of $175.54 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. On average, analysts predict that Taubman Centers will post $3.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, June 12th.
In other Taubman Centers news, CFO Lisa A. Payne unloaded 4,000 shares of Taubman Centers stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $74.73, for a total value of $298,920.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Barclays downgraded shares of Taubman Centers to an “outperform” rating in a research note on Friday, May 23rd. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Taubman Centers in a research note on Tuesday, April 29th. They now have a $74.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of Taubman Centers from a “neutral” rating to a “buy” rating in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $74.00.
Taubman Centers, Inc (NYSE:TCO) operates as a self-administered and self-managed real estate investment trust (REIT).
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