Wolverine Asset Management LLC decreased its holdings in Taubman Centers, Inc. (NYSE:TCO) by 85.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,303 shares of the real estate investment trust’s stock after selling 48,921 shares during the period. Wolverine Asset Management LLC’s holdings in Taubman Centers were worth $543,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of TCO. Tower Research Capital LLC TRC increased its holdings in shares of 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 worth $160,000 after purchasing an additional 2,196 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Taubman Centers in the 4th quarter worth $171,000. Lourd Capital LLC bought a new stake in shares of Taubman Centers in the 4th quarter worth $218,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Taubman Centers in the 4th quarter worth $225,000. Finally, Alps Advisors Inc. bought a new stake in shares of Taubman Centers in the 4th quarter worth $232,000.
Several brokerages recently commented on TCO. BMO Capital Markets raised Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price objective for the company in a report on Wednesday, December 13th. Zacks Investment Research lowered Taubman Centers from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Mizuho set a $63.00 price objective on Taubman Centers and gave the stock a “hold” rating in a report on Friday, February 16th. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a report on Monday, February 12th. Finally, Sandler O’Neill set a $63.00 price objective on Taubman Centers and gave the stock a “hold” rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $63.22.
Shares of Taubman Centers, Inc. (NYSE TCO) opened at $57.77 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of -23.70. Taubman Centers, Inc. has a fifty-two week low of $44.78 and a fifty-two week high of $67.19. The company has a market capitalization of $3,549.80, a price-to-earnings ratio of 16.01, a P/E/G ratio of 3.44 and a beta of 0.55.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01. Taubman Centers had a negative return on equity of 57.04% and a net margin of 11.63%. The company had revenue of $172.18 million during the quarter, compared to analyst estimates of $164.26 million. During the same quarter in the previous year, the company posted $1.01 earnings per share. Taubman Centers’s revenue was up 9.8% compared to the same quarter last year. analysts forecast that Taubman Centers, Inc. will post 3.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be given a dividend of $0.655 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from Taubman Centers’s previous quarterly dividend of $0.63. This represents a $2.62 annualized dividend and a yield of 4.54%. Taubman Centers’s payout ratio is 277.78%.
In related news, Director Craig M. Hatkoff sold 1,350 shares of Taubman Centers stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $58.62, for a total transaction of $79,137.00. Following the transaction, the director now directly owns 6,013 shares in the company, valued at $352,482.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cornelia Connelly Marakovits bought 4,000 shares of the 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 directly owns 7,403 shares of the company’s stock, valued at approximately $468,980.05. The disclosure for this purchase can be found here. Insiders have sold 2,053 shares of company stock worth $122,686 over the last quarter. 31.20% of the stock is owned by company insiders.
Taubman Centers 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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