Taubman Centers CFO Lisa A. Payne Sells 4,000 Shares (TCO)
Taubman Centers (NYSE:TCO) CFO Lisa A. Payne sold 4,000 shares of the stock on the open market in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $76.19, for a total value of $304,760.00. Following the completion of the transaction, the chief financial officer now directly owns 72,953 shares in the company, valued at approximately $5,558,289. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Taubman Centers (NYSE:TCO) traded down 0.12% during mid-day trading on Tuesday, hitting $76.08. The stock had a trading volume of 318,559 shares. Taubman Centers has a 1-year low of $61.43 and a 1-year high of $77.40. The stock has a 50-day moving average of $75.34 and a 200-day moving average of $73.26. The company has a market cap of $4.817 billion and a price-to-earnings ratio of 10.74.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.81 by $0.05. The company had revenue of $170.00 million for the quarter, compared to the consensus estimate of $168.14 million. During the same quarter in the prior year, the company posted $0.75 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 $3.66 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of Taubman Centers in a research note on Wednesday, August 20th. They now have a $77.00 price target on the stock, down previously from $80.00. Separately, analysts at Morgan Stanley upgraded shares of Taubman Centers from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 15th. They now have a $91.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Deutsche Bank cut their price target on shares of Taubman Centers from $79.00 to $77.00 in a research note on Tuesday, August 5th. They now have a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $77.75.
Taubman Centers, Inc (NYSE:TCO) operates as a self-administered and self-managed real estate investment trust (REIT).
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