Taubman Centers, Inc. (TCO) Set to Announce Earnings on Monday
Taubman Centers, Inc. (NYSE:TCO) will release its earnings data after the market closes on Monday, October 30th.
Taubman Centers (NYSE:TCO) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $142.16 million. During the same quarter last year, the firm posted $1.04 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, analysts expect Taubman Centers to post $3.71 EPS for the current fiscal year and $3.9 EPS for the next fiscal year.
Taubman Centers, Inc. (NYSE:TCO) opened at 49.75 on Monday. Taubman Centers, Inc. has a 52 week low of $48.77 and a 52 week high of $77.03. The stock has a market cap of $3.02 billion, a P/E ratio of 38.45 and a beta of 0.50. The stock has a 50 day moving average of $50.88 and a 200-day moving average of $57.40.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend was Thursday, September 14th. Taubman Centers’s dividend payout ratio is 193.80%.
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Several research firms have commented on TCO. BidaskClub downgraded shares of Taubman Centers from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a research report on Monday, July 31st. KeyCorp decreased 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 report on Wednesday, June 28th. Jefferies Group LLC reissued a “neutral” rating on shares of Taubman Centers in a research report on Friday, October 13th. Finally, Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $67.14.
In other news, Director Myron E. Ullman III acquired 12,325 shares of Taubman Centers stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average cost of $56.90 per share, for a total transaction of $701,292.50. Following the completion of the purchase, the director now owns 16,646 shares of the company’s stock, valued at $947,157.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.20% of the stock is currently owned by insiders.
Taubman Centers Company Profile
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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