Taubman Centers, Inc. (NYSE:TCO) – Stock analysts at Boenning Scattergood reduced their Q1 2018 EPS estimates for Taubman Centers in a research note issued to investors on Monday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the real estate investment trust will post earnings of $0.89 per share for the quarter, down from their prior estimate of $0.94. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Taubman Centers’ Q4 2018 earnings at $1.04 EPS, FY2018 earnings at $3.80 EPS, Q1 2019 earnings at $0.90 EPS, Q2 2019 earnings at $0.87 EPS, Q3 2019 earnings at $0.96 EPS, Q4 2019 earnings at $1.09 EPS and FY2019 earnings at $3.81 EPS.
Taubman Centers (NYSE:TCO) last announced its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.01. Taubman Centers had a negative return on equity of 60.45% and a net margin of 11.63%. The business had revenue of $172.18 million during the quarter, compared to the consensus estimate of $164.26 million. During the same quarter last year, the firm posted $1.01 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis.
Shares of Taubman Centers (NYSE TCO) opened at $58.94 on Wednesday. Taubman Centers has a twelve month low of $44.78 and a twelve month high of $70.85. The stock has a market capitalization of $3,580.00, a price-to-earnings ratio of 64.77, a price-to-earnings-growth ratio of 4.59 and a beta of 0.52. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of -21.77.
In related news, Director Cornelia Connelly Marakovits purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average price of $63.35 per share, for a total transaction of $253,400.00. Following the completion of the transaction, the director now owns 7,403 shares of the company’s stock, valued at $468,980.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert S. Taubman sold 58,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 16,953 shares in the company, valued at approximately $1,062,614.04. The disclosure for this sale can be found here. Insiders have sold a total of 93,318 shares of company stock worth $5,849,897 in the last quarter. Company insiders own 31.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Taubman Centers by 2.3% in the fourth quarter. BlackRock Inc. now owns 6,655,154 shares of the real estate investment trust’s stock worth $435,445,000 after purchasing an additional 149,404 shares during the period. Long Pond Capital LP increased its position in shares of Taubman Centers by 35.9% in the fourth quarter. Long Pond Capital LP now owns 4,115,222 shares of the real estate investment trust’s stock worth $269,259,000 after purchasing an additional 1,086,367 shares during the period. Cbre Clarion Securities LLC bought a new position in shares of Taubman Centers in the fourth quarter worth $176,250,000. State Street Corp increased its position in shares of Taubman Centers by 0.5% in the second quarter. State Street Corp now owns 2,665,010 shares of the real estate investment trust’s stock worth $158,705,000 after purchasing an additional 13,584 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Taubman Centers by 71.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,486,957 shares of the real estate investment trust’s stock worth $97,291,000 after purchasing an additional 621,136 shares during the period.
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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