Taubman Centers, Inc. (TCO) Receives “Hold” Rating from Boenning Scattergood
Taubman Centers, Inc. (NYSE:TCO)‘s stock had its “hold” rating reissued by research analysts at Boenning Scattergood in a report released on Friday. Boenning Scattergood also issued estimates for Taubman Centers’ FY2017 earnings at $3.70 EPS, Q1 2018 earnings at $0.94 EPS, Q3 2018 earnings at $0.96 EPS and FY2018 earnings at $4.00 EPS.
TCO has been the subject of a number of other research reports. Zacks Investment Research cut Taubman Centers from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Jefferies Group LLC restated a “hold” rating and issued a $57.00 price target on shares of Taubman Centers in a report on Tuesday, September 26th. BidaskClub upgraded Taubman Centers from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. J P Morgan Chase & Co cut Taubman Centers from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $64.00 to $57.00 in a report on Tuesday, September 26th. Finally, BMO Capital Markets began coverage on Taubman Centers in a report on Monday, September 11th. They issued an “underperform” rating for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $67.14.
Taubman Centers (NYSE:TCO) traded down $1.16 during trading on Friday, reaching $46.35. The company had a trading volume of 1,320,000 shares, compared to its average volume of 663,483. The stock has a market cap of $2,814.05, a PE ratio of 12.80, a PEG ratio of 3.74 and a beta of 0.52. Taubman Centers has a 1 year low of $44.78 and a 1 year high of $76.79. The company has a current ratio of 0.35, a quick ratio of 0.33 and a debt-to-equity ratio of -21.77.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.06). The company had revenue of $153.20 million for the quarter, compared to analysts’ expectations of $155.95 million. Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 EPS. equities research analysts predict that Taubman Centers will post 3.71 EPS for the current fiscal year.
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In other news, Director Myron E. Ullman III acquired 12,325 shares of Taubman Centers stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $56.90 per share, with a total value of $701,292.50. Following the purchase, the director now directly owns 16,646 shares of the company’s stock, valued at approximately $947,157.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 31.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TCO. Creative Planning lifted its stake in shares of Taubman Centers by 8.0% in the 2nd quarter. Creative Planning now owns 2,790 shares of the real estate investment trust’s stock valued at $166,000 after purchasing an additional 206 shares in the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of Taubman Centers in the 2nd quarter valued at about $227,000. Riverhead Capital Management LLC lifted its stake in shares of Taubman Centers by 83.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,397 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 1,997 shares in the last quarter. Shelton Capital Management acquired a new position in shares of Taubman Centers in the 2nd quarter valued at about $269,000. Finally, LS Investment Advisors LLC lifted its stake in shares of Taubman Centers by 16.8% in the 2nd quarter. LS Investment Advisors LLC now owns 4,805 shares of the real estate investment trust’s stock valued at $286,000 after purchasing an additional 692 shares in the last quarter.
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.
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