State of New Jersey Common Pension Fund D Acquires Shares of 56,200 Taubman Centers, Inc. (NYSE:TCO)

State of New Jersey Common Pension Fund D acquired a new stake in shares of Taubman Centers, Inc. (NYSE:TCO) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 56,200 shares of the real estate investment trust’s stock, valued at approximately $2,295,000. State of New Jersey Common Pension Fund D owned 0.09% of Taubman Centers at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brookfield Asset Management Inc. purchased a new position in Taubman Centers during the 2nd quarter valued at $1,658,000. Jane Street Group LLC purchased a new position in Taubman Centers during the 2nd quarter valued at $1,281,000. Menta Capital LLC purchased a new position in Taubman Centers during the 2nd quarter valued at $682,000. Fox Run Management L.L.C. purchased a new position in Taubman Centers during the 2nd quarter valued at $563,000. Finally, Sullivan Bruyette Speros & Blaney LLC purchased a new position in Taubman Centers during the 2nd quarter valued at $2,042,000. 99.60% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have issued reports on TCO shares. Citigroup reduced their price objective on shares of Taubman Centers from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Morgan Stanley reduced their price objective on shares of Taubman Centers from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. Mizuho set a $43.00 price objective on shares of Taubman Centers and gave the company a “hold” rating in a research report on Friday, July 26th. ValuEngine raised shares of Taubman Centers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Sandler O’Neill downgraded shares of Taubman Centers from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $50.50.

NYSE:TCO opened at $35.76 on Friday. The firm’s 50-day moving average price is $38.33 and its 200-day moving average price is $42.18. The company has a market capitalization of $2.28 billion, a PE ratio of 9.34, a P/E/G ratio of 2.52 and a beta of 0.68. Taubman Centers, Inc. has a 1-year low of $35.35 and a 1-year high of $56.03.

About Taubman Centers

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.

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Institutional Ownership by Quarter for Taubman Centers (NYSE:TCO)

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