Taubman Centers, Inc. (TCO) Announces Quarterly Dividend of $0.54
Taubman Centers (NYSE:TCO) declared a quarterly dividend on Thursday, September 4th, American Banking & Market News reports. Investors of record on Monday, September 15th will be given a dividend of 0.54 per share on Tuesday, September 30th. This represents a $2.16 dividend on an annualized basis and a yield of 2.83%.
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. On a related note, 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 given a buy rating to the company’s stock. Taubman Centers currently has an average rating of “Hold” and an average target price of $77.75.
Shares of Taubman Centers (NYSE:TCO) opened at 76.26 on Thursday. Taubman Centers has a one year low of $61.43 and a one year high of $77.40. The stock’s 50-day moving average is $75.27 and its 200-day moving average is $73.42. The company has a market cap of $4.829 billion and a price-to-earnings ratio of 10.75.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. Analysts expect that Taubman Centers will post $3.65 EPS for the current fiscal year.
In other Taubman Centers news, CFO Lisa A. Payne unloaded 4,000 shares of the company’s stock 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Taubman Centers, Inc (NYSE:TCO) operates as a self-administered and self-managed real estate investment trust (REIT).
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