Taubman Centers, Inc. (NYSE:TCO) – Analysts at Boenning Scattergood upped their Q3 2018 earnings per share estimates for Taubman Centers in a report released on Monday. Boenning Scattergood analyst F. Van. Dijkum now expects that the real estate investment trust will earn $0.97 per share for the quarter, up from their prior forecast of $0.95. Boenning Scattergood has a “Hold” rating on the stock.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Monday, October 30th. BMO Capital Markets raised shares of Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price objective on the stock in a report on Wednesday, December 13th. Mizuho reissued a “neutral” rating on shares of Taubman Centers in a report on Wednesday, November 8th. Citigroup raised their price objective on shares of Taubman Centers from $58.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Sandler O’Neill set a $63.00 price objective on shares of Taubman Centers and gave the stock a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $64.33.
Taubman Centers (NYSE:TCO) last issued its earnings results on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.01. The firm had revenue of $172.18 million for the quarter, compared to analysts’ expectations of $164.26 million. Taubman Centers had a net margin of 11.63% and a negative return on equity of 60.45%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its position in shares of Taubman Centers by 874.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 2,196 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Taubman Centers during the 4th quarter worth $171,000. Lourd Capital LLC purchased a new stake in shares of Taubman Centers during the 4th quarter worth $218,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Taubman Centers during the 4th quarter worth $225,000. Finally, Alps Advisors Inc. purchased a new stake in shares of Taubman Centers during the 4th quarter worth $232,000.
In related news, COO William S. Taubman sold 35,000 shares of Taubman Centers stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total value of $2,193,800.00. Following the transaction, the chief operating officer now directly owns 67,633 shares in the company, valued at approximately $4,239,236.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Craig M. Hatkoff sold 1,350 shares of Taubman Centers stock in a transaction 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 transaction, the director now owns 6,013 shares in the company, valued at $352,482.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,668 shares of company stock worth $5,929,034. 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.
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