Taubman Centers, Inc. (TCO) Receives Consensus Rating of “Hold” from Analysts
Taubman Centers, Inc. (NYSE:TCO) has earned a consensus recommendation of “Hold” from the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $67.50.
A number of research analysts have recently weighed in on the company. BMO Capital Markets raised Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price objective on the stock in a report on Wednesday. J P Morgan Chase & Co lowered Taubman Centers from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $64.00 to $57.00 in a report on Tuesday, September 26th. Jefferies Group reissued a “hold” rating and issued a $57.00 price objective on shares of Taubman Centers in a report on Tuesday, September 26th. Zacks Investment Research lowered Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Finally, Mizuho reaffirmed a “neutral” rating on shares of Taubman Centers in a report on Wednesday, November 8th.
In related news, COO William S. Taubman sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total transaction of $2,193,800.00. Following the sale, the chief operating officer now directly owns 67,633 shares of the company’s stock, valued at $4,239,236.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert S. Taubman sold 58,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total value of $3,635,440.00. Following the sale, the chief executive officer now directly owns 16,953 shares in the company, valued at $1,062,614.04. The disclosure for this sale can be found here. 31.20% of the stock is owned by company insiders.
Taubman Centers (TCO) opened at $63.73 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of -21.77. The firm has a market capitalization of $3,860.72, a PE ratio of 17.57, a PEG ratio of 5.13 and a beta of 0.62. Taubman Centers has a 1-year low of $44.78 and a 1-year high of $76.79.
Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.06). The firm had revenue of $153.20 million during the quarter, compared to analyst estimates of $155.95 million. Taubman Centers had a net margin of 13.21% and a negative return on equity of 75.87%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share. sell-side analysts anticipate that Taubman Centers will post 3.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 3.92%. The ex-dividend date is Thursday, December 14th. Taubman Centers’s dividend payout ratio (DPR) is 238.10%.
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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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