Taubman Centers, Inc. (NYSE:TCO) Issues Earnings Results
Taubman Centers, Inc. (NYSE:TCO) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.64, Bloomberg Earnings reports. The company had revenue of $154.68 million for the quarter, compared to the consensus estimate of $142.16 million. Taubman Centers had a negative return on equity of 168.15% and a net margin of 17.09%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.04 earnings per share.
Taubman Centers (TCO) traded up 1.39% on Thursday, reaching $61.90. 523,436 shares of the company traded hands. Taubman Centers has a 52-week low of $57.17 and a 52-week high of $81.68. The stock has a 50-day moving average of $59.53 and a 200 day moving average of $64.44. The company has a market capitalization of $3.76 billion, a PE ratio of 37.63 and a beta of 0.50.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Tuesday, June 13th. Taubman Centers’s dividend payout ratio (DPR) is presently 152.44%.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Taubman Centers from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 target price on shares of Taubman Centers in a research note on Monday, April 17th. BidaskClub upgraded shares of Taubman Centers from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. KeyCorp cut their target price on shares of Taubman Centers from $85.00 to $79.00 and set an “overweight” rating for the company in a research note on Wednesday, June 28th. Finally, Deutsche Bank AG lifted their target price on shares of Taubman Centers from $68.00 to $71.00 and gave the company a “hold” rating in a research note on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $75.44.
About Taubman Centers
Taubman Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s segment is focused on owning, developing and managing regional shopping centers. The Taubman Realty Group Limited Partnership (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.
Receive News & Ratings for Taubman Centers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taubman Centers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.