Several brokerages have updated their recommendations and price targets on shares of Taubman Centers (NYSE: TCO) in the last few weeks:

  • 8/5/2017 – Taubman Centers was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/31/2017 – Taubman Centers had its “hold” rating reaffirmed by analysts at Boenning Scattergood.
  • 7/31/2017 – Taubman Centers was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Taubman Centers’ second-quarter 2017 funds from operations (FFO) surpassed the Zacks Consensus Estimate. Results reflect substantial lease cancellation income and higher rents, together with lesser operating and general and administrative costs. However, revenues were down 2.7% from the prior-year quarter. Admittedly, with a rapid shift in customers’ shopping preferences and growing online purchases, mall traffic continues to suffer. This has emerged as a pressing concern for retail REITs like Taubman. Also, hike in interest rates and unfavorable foreign currency movements increase its risks. Amid these, year to date, Taubman’s shares underperformed the industry it belongs to. Nevertheless, the company boasts a well-positioned portfolio and high-quality tenant roster of national retailers. Further, the company is focused on implementing cost-saving initiatives that can support FFO growth, going forward.”
  • 7/19/2017 – Taubman Centers was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/11/2017 – Taubman Centers was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/11/2017 – Taubman Centers was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Over the last three months, Taubman’s shares underperformed the Zacks categorized REIT and Equity Trust – Retail industry. Also, its second-quarter 2017 funds from operations (FFO) per share estimate moved south, over the past 30 days. Admittedly, with a rapid shift in customers’ shopping preferences and growing online purchases, mall traffic continues to suffer. This has emerged as a pressing concern for retail REITs like Taubman. Also, hike in interest rates and unfavorable foreign currency movements increase its risks. Nevertheless, the company boasts a well-positioned portfolio and high-quality tenant roster of national retailers. It is also focused on expansion and development of properties in major submarkets, which augur well for long-term growth.”
  • 7/4/2017 – Taubman Centers was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Over the last three months, Taubman’s shares underperformed the Zacks categorized REIT and Equity Trust – Retail industry. Also, its second-quarter and full-year 2017 funds from operations (FFO) per share estimate moved south, over the past 30 days. Admittedly, with a rapid shift in customers’ shopping preferences and growing online purchases, mall traffic continues to suffer. This has emerged as a pressing concern for retail REITs like Taubman. Also, hike in interest rates and unfavorable foreign currency movements increase its risks. Nevertheless, the company boasts a well-positioned portfolio and high-quality tenant roster of national retailers. It is also focused on expansion and development of properties in major submarkets, which augur well for long-term growth.”
  • 6/30/2017 – Taubman Centers was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/28/2017 – Taubman Centers had its price target lowered by analysts at KeyCorp from $85.00 to $79.00. They now have an “overweight” rating on the stock.

Shares of Taubman Centers, Inc. (NYSE TCO) opened at 57.12 on Tuesday. The firm has a market cap of $3.47 billion, a P/E ratio of 44.14 and a beta of 0.49. Taubman Centers, Inc. has a 12 month low of $55.85 and a 12 month high of $80.86. The company has a 50-day moving average of $59.37 and a 200-day moving average of $63.94.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. Taubman Centers had a net margin of 14.71% and a negative return on equity of 110.46%. The business had revenue of $154.68 million during the quarter, compared to the consensus estimate of $142.16 million. During the same quarter in the prior year, the firm earned $1.04 EPS. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts forecast that Taubman Centers, Inc. will post $1.15 EPS for the current fiscal year.

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.

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