Taubman Centers, Inc. (TCO) Position Boosted by State Street Corp

State Street Corp increased its position in shares of Taubman Centers, Inc. (NYSE:TCO) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,665,010 shares of the real estate investment trust’s stock after buying an additional 13,584 shares during the period. State Street Corp owned 4.39% of Taubman Centers worth $158,705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TCO. UBS Asset Management Americas Inc. increased its holdings in Taubman Centers by 19.2% during the first quarter. UBS Asset Management Americas Inc. now owns 139,854 shares of the real estate investment trust’s stock worth $9,233,000 after buying an additional 22,557 shares during the last quarter. Stifel Financial Corp increased its holdings in Taubman Centers by 1.7% during the first quarter. Stifel Financial Corp now owns 7,174 shares of the real estate investment trust’s stock worth $473,000 after buying an additional 120 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Taubman Centers by 4.0% during the first quarter. Principal Financial Group Inc. now owns 247,587 shares of the real estate investment trust’s stock worth $16,346,000 after buying an additional 9,415 shares during the last quarter. Wellington Management Group LLP increased its holdings in Taubman Centers by 7.2% during the first quarter. Wellington Management Group LLP now owns 271,036 shares of the real estate investment trust’s stock worth $17,894,000 after buying an additional 18,259 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its holdings in Taubman Centers by 3.7% during the first quarter. Thrivent Financial For Lutherans now owns 39,947 shares of the real estate investment trust’s stock worth $2,637,000 after buying an additional 1,440 shares during the last quarter.

TCO has been the topic of a number of recent analyst reports. Morgan Stanley downgraded shares of Taubman Centers from an “equal weight” rating to an “underweight” rating in a report on Monday, September 18th. Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub upgraded shares of Taubman Centers from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. BMO Capital Markets initiated coverage on shares of Taubman Centers in a report on Monday, September 11th. They set an “underperform” rating on the stock. Finally, KeyCorp lowered their target price on shares of Taubman Centers from $85.00 to $79.00 and set an “overweight” rating on the stock in a report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $67.14.

Taubman Centers, Inc. (TCO) opened at 50.21 on Friday. The company has a market capitalization of $3.05 billion, a PE ratio of 38.80 and a beta of 0.50. Taubman Centers, Inc. has a 52-week low of $48.77 and a 52-week high of $77.03. The firm’s 50-day moving average is $50.95 and its 200-day moving average is $57.52.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. Taubman Centers had a negative return on equity of 110.46% and a net margin of 14.71%. The company had revenue of $154.68 million during the quarter, compared to analyst estimates of $142.16 million. During the same quarter last year, the firm posted $1.04 EPS. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities research analysts forecast that Taubman Centers, Inc. will post $1.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 4.98%. The ex-dividend date was Thursday, September 14th. Taubman Centers’s dividend payout ratio (DPR) is currently 193.80%.

In other news, Director Myron E. Ullman III acquired 12,325 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was bought at an average price of $56.90 per share, with a total value of $701,292.50. Following the acquisition, the director now owns 16,646 shares in the company, valued at approximately $947,157.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through

A number of other institutional investors and hedge funds have also recently modified their holdings of TCO. UBS Asset Management Americas Inc. increased its holdings in Taubman Centers by 19.2% during the first quarter. UBS Asset Management Americas Inc. now owns 139,854 shares of the real estate investment trust’s stock worth $9,233,000 after buying an additional 22,557 shares during the last quarter. Stifel Financial Corp increased its holdings in Taubman Centers by 1.7% during the first quarter. Stifel Financial Corp now owns 7,174 shares of the real estate investment trust’s stock worth $473,000 after buying an additional 120 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Taubman Centers by 4.0% during the first quarter. Principal Financial Group Inc. now owns 247,587 shares of the real estate investment trust’s stock worth $16,346,000 after buying an additional 9,415 shares during the last quarter. Wellington Management Group LLP increased its holdings in Taubman Centers by 7.2% during the first quarter. Wellington Management Group LLP now owns 271,036 shares of the real estate investment trust’s stock worth $17,894,000 after buying an additional 18,259 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its holdings in Taubman Centers by 3.7% during the first quarter. Thrivent Financial For Lutherans now owns 39,947 shares of the real estate investment trust’s stock worth $2,637,000 after buying an additional 1,440 shares during the last quarter.

TCO has been the topic of a number of recent analyst reports. Morgan Stanley downgraded shares of Taubman Centers from an “equal weight” rating to an “underweight” rating in a report on Monday, September 18th. Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub upgraded shares of Taubman Centers from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. BMO Capital Markets initiated coverage on shares of Taubman Centers in a report on Monday, September 11th. They set an “underperform” rating on the stock. Finally, KeyCorp lowered their target price on shares of Taubman Centers from $85.00 to $79.00 and set an “overweight” rating on the stock in a report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $67.14.

Taubman Centers, Inc. (TCO) opened at 50.21 on Friday. The company has a market capitalization of $3.05 billion, a PE ratio of 38.80 and a beta of 0.50. Taubman Centers, Inc. has a 52-week low of $48.77 and a 52-week high of $77.03. The firm’s 50-day moving average is $50.95 and its 200-day moving average is $57.52.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. Taubman Centers had a negative return on equity of 110.46% and a net margin of 14.71%. The company had revenue of $154.68 million during the quarter, compared to analyst estimates of $142.16 million. During the same quarter last year, the firm posted $1.04 EPS. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities research analysts forecast that Taubman Centers, Inc. will post $1.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 4.98%. The ex-dividend date was Thursday, September 14th. Taubman Centers’s dividend payout ratio (DPR) is currently 193.80%.

In other news, Director Myron E. Ullman III acquired 12,325 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was bought at an average price of $56.90 per share, with a total value of $701,292.50. Following the acquisition, the director now owns 16,646 shares in the company, valued at approximately $947,157.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 31.20% of the company’s stock.

WARNING: This report was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://ledgergazette.com/2017/10/20/taubman-centers-inc-tco-position-boosted-by-state-street-corp.html.

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.

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

Receive News & Ratings for Taubman Centers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taubman Centers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.