Taubman Centers, Inc. (NYSE:TCO) – Analysts at Jefferies Group reduced their FY2018 earnings per share estimates for Taubman Centers in a report released on Tuesday. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will post earnings per share of $3.67 for the year, down from their previous estimate of $3.68. Jefferies Group has a “Neutral” rating on the stock.

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 the Zacks’ consensus estimate of $0.89 by ($0.06). Taubman Centers had a net margin of 13.21% and a negative return on equity of 75.87%. The company had revenue of $153.20 million for the quarter, compared to analyst estimates of $155.95 million. During the same quarter in the prior year, the business earned $0.94 EPS. Taubman Centers’s revenue was up 3.5% compared to the same quarter last year.

A number of other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. BMO Capital Markets reiterated a “hold” rating and set a $62.00 price objective on shares of Taubman Centers in a research note on Tuesday, January 9th. Mizuho reiterated a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, November 8th. Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a research note on Friday, November 3rd. Finally, JPMorgan Chase & Co. lowered shares of Taubman Centers from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $64.00 to $57.00 in a research note on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $65.00.

Taubman Centers (NYSE:TCO) traded up $0.89 during midday trading on Thursday, hitting $61.94. 711,800 shares of the company were exchanged, compared to its average volume of 1,058,064. Taubman Centers has a fifty-two week low of $44.78 and a fifty-two week high of $72.57. 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 $3,706.51, a price-to-earnings ratio of 58.99, a PEG ratio of 4.81 and a beta of 0.61.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, December 14th. Taubman Centers’s payout ratio is 238.10%.

In other Taubman Centers news, Director Cornelia Connelly Marakovits bought 4,000 shares of Taubman Centers stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average cost of $63.35 per share, for a total transaction of $253,400.00. Following the completion of the acquisition, the director now owns 7,403 shares of the company’s stock, valued at approximately $468,980.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert S. Taubman sold 58,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total transaction of $3,635,440.00. Following the sale, the chief executive officer now owns 16,953 shares of the company’s stock, valued at $1,062,614.04. The disclosure for this sale can be found here. Insiders have sold 93,318 shares of company stock valued at $5,849,897 over the last 90 days. 31.20% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of TCO. Virtu KCG Holdings LLC bought a new stake in Taubman Centers during the second quarter worth approximately $227,000. Creative Planning bought a new stake in Taubman Centers during the fourth quarter worth approximately $240,000. Riverhead Capital Management LLC boosted its holdings in Taubman Centers by 83.2% during the second quarter. Riverhead Capital Management LLC now owns 4,397 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 1,997 shares in the last quarter. Shelton Capital Management bought a new stake in Taubman Centers during the second quarter worth approximately $269,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Taubman Centers during the third quarter worth approximately $368,000.

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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.

Earnings History and Estimates for Taubman Centers (NYSE:TCO)

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