Taubman Centers (NYSE:TCO) released its quarterly earnings results on Wednesday. The real estate investment trust reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.01, Bloomberg Earnings reports. Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The company had revenue of $172.18 million during the quarter, compared to analysts’ expectations of $164.26 million. During the same period in the previous year, the firm posted $1.01 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year.
Taubman Centers (TCO) traded down $1.83 during midday trading on Thursday, hitting $54.97. The stock had a trading volume of 832,081 shares, compared to its average volume of 976,259. The firm has a market capitalization of $3,407.80, a PE ratio of 52.35, a price-to-earnings-growth ratio of 4.44 and a beta of 0.52. The company has a debt-to-equity ratio of -21.77, a quick ratio of 0.35 and a current ratio of 0.35. Taubman Centers has a 12 month low of $44.78 and a 12 month high of $71.00.
In other news, COO William S. Taubman sold 35,000 shares of Taubman Centers stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total value of $2,193,800.00. Following the completion of the sale, the chief operating officer now owns 67,633 shares of the company’s stock, valued at $4,239,236.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cornelia Connelly Marakovits acquired 4,000 shares of the stock in a transaction dated Friday, December 15th. The stock was acquired at an average cost of $63.35 per share, with a total value of $253,400.00. Following the transaction, the director now owns 7,403 shares of the company’s stock, valued at $468,980.05. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 93,318 shares of company stock valued at $5,849,897. Company insiders own 31.20% of the company’s stock.
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.
Receive News & Ratings for Taubman Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taubman Centers and related companies with MarketBeat.com's FREE daily email newsletter.