Taubman Centers (TCO) Posts Earnings Results, Beats Estimates By $0.01 EPS

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.

TCO has been the subject of a number of analyst reports. Jefferies Group reissued a “neutral” rating on shares of Taubman Centers in a report on Friday, October 13th. Zacks Investment Research cut Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a report on Friday, November 3rd. Mizuho reissued a “neutral” rating on shares of Taubman Centers in a report on Wednesday, November 8th. Finally, BMO Capital Markets raised Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price target for the company in a report on Wednesday, December 13th. 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. Taubman Centers presently has an average rating of “Hold” and a consensus price target of $65.00.

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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 for Taubman Centers (NYSE:TCO)

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