Taubman Centers, Inc. (NYSE:TCO) – Equities research analysts at Jefferies Group reduced their FY2019 earnings per share (EPS) estimates for Taubman Centers in a research note issued to investors on Tuesday, Zacks Investment Research reports. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will earn $3.91 per share for the year, down from their previous forecast of $3.93.
Several other research analysts have also weighed in on TCO. Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. BMO Capital Markets reiterated a “hold” rating and issued a $62.00 price objective on shares of Taubman Centers in a research note on Tuesday, January 9th. Mizuho reiterated a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, November 8th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $65.00.
Taubman Centers (NYSE TCO) traded up $3.27 during trading on Wednesday, reaching $58.24. 1,551,635 shares of the company’s stock traded hands, compared to its average volume of 824,067. The firm has a market cap of $3,535.93, a price-to-earnings ratio of 64.71, a PEG ratio of 4.61 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. Taubman Centers has a 1 year low of $44.78 and a 1 year high of $70.85.
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. The business had revenue of $172.18 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Suntrust Banks Inc. acquired a new position in shares of Taubman Centers during the 4th quarter worth $2,677,000. FDx Advisors Inc. acquired a new position in shares of Taubman Centers during the 4th quarter worth $312,000. American International Group Inc. increased its stake in shares of Taubman Centers by 1.2% during the 4th quarter. American International Group Inc. now owns 125,665 shares of the real estate investment trust’s stock worth $8,222,000 after purchasing an additional 1,473 shares during the last quarter. Virtu Financial LLC acquired a new position in Taubman Centers in the 4th quarter valued at $397,000. Finally, Tower Research Capital LLC TRC grew its stake in Taubman Centers by 874.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 2,196 shares during the last quarter.
In other news, CEO Robert S. Taubman sold 58,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total transaction of $3,635,440.00. Following the transaction, the chief executive officer now owns 16,953 shares in the company, valued at approximately $1,062,614.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO William S. Taubman sold 35,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total transaction of $2,193,800.00. Following the transaction, the chief operating officer now owns 67,633 shares in the company, valued at approximately $4,239,236.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,318 shares of company stock worth $5,849,897. 31.20% of the stock is currently owned by company insiders.
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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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