Insider Selling: Taubman Centers, Inc. (TCO) Director Sells 1,350 Shares of Stock

Taubman Centers, Inc. (NYSE:TCO) Director Craig M. Hatkoff sold 1,350 shares of Taubman Centers stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $58.62, for a total transaction of $79,137.00. Following the completion of the sale, the director now owns 6,013 shares of the company’s stock, valued at approximately $352,482.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Taubman Centers, Inc. (NYSE:TCO) traded down $0.66 during mid-day trading on Wednesday, reaching $58.28. 363,461 shares of the company’s stock traded hands, compared to its average volume of 955,259. The company has a debt-to-equity ratio of -21.77, a current ratio of 0.35 and a quick ratio of 0.35. Taubman Centers, Inc. has a 52 week low of $44.78 and a 52 week high of $70.85. The stock has a market cap of $3,557.76, a PE ratio of 65.49, a PEG ratio of 4.61 and a beta of 0.52.

Taubman Centers (NYSE:TCO) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.01. Taubman Centers had a net margin of 11.63% and a negative return on equity of 60.45%. The company had revenue of $172.18 million during the quarter, compared to analysts’ expectations of $164.26 million. During the same quarter last year, the company posted $1.01 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. sell-side analysts predict that Taubman Centers, Inc. will post 3.8 earnings per share for the current fiscal year.

Several analysts recently weighed in on TCO shares. Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a report on Monday. Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Monday, October 30th. BMO Capital Markets reissued a “hold” rating and issued a $62.00 price target on shares of Taubman Centers in a research report on Tuesday, January 9th. Sandler O’Neill set a $63.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a research report on Tuesday. Finally, Citigroup raised their price target on shares of Taubman Centers from $58.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. Taubman Centers presently has an average rating of “Hold” and an average price target of $64.33.

Institutional investors have recently added to or reduced their stakes in the company. Land & Buildings Investment Management LLC lifted its position in shares of Taubman Centers by 14.5% during the 3rd quarter. Land & Buildings Investment Management LLC now owns 1,053,547 shares of the real estate investment trust’s stock worth $52,361,000 after purchasing an additional 133,100 shares during the last quarter. AMP Capital Investors Ltd lifted its position in shares of Taubman Centers by 228.3% during the 3rd quarter. AMP Capital Investors Ltd now owns 67,728 shares of the real estate investment trust’s stock worth $3,366,000 after purchasing an additional 47,100 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Taubman Centers by 11.1% during the 3rd quarter. Legal & General Group Plc now owns 387,904 shares of the real estate investment trust’s stock worth $19,280,000 after purchasing an additional 38,686 shares during the last quarter. Strs Ohio lifted its position in shares of Taubman Centers by 3.4% during the 4th quarter. Strs Ohio now owns 76,797 shares of the real estate investment trust’s stock worth $5,024,000 after purchasing an additional 2,560 shares during the last quarter. Finally, Sarasin & Partners LLP lifted its position in shares of Taubman Centers by 6.9% during the 3rd quarter. Sarasin & Partners LLP now owns 39,009 shares of the real estate investment trust’s stock worth $1,939,000 after purchasing an additional 2,533 shares during the last quarter.

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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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