Taubman Centers (NYSE:TCO) – Research analysts at Jefferies Group decreased their FY2018 earnings per share (EPS) estimates for Taubman Centers in a note issued to investors on Thursday, April 12th. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will earn $3.76 per share for the year, down from their prior estimate of $3.77. Jefferies Group also issued estimates for Taubman Centers’ FY2019 earnings at $3.95 EPS.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ 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 the consensus estimate of $164.26 million. During the same period last year, the company earned $1.01 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year.
A number of other equities analysts also recently issued reports on TCO. Zacks Investment Research upgraded Taubman Centers from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Mizuho set a $63.00 target price on Taubman Centers and gave the stock a “hold” rating in a research note on Friday, February 16th. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a research note on Monday, February 12th. BMO Capital Markets reaffirmed a “hold” rating and set a $62.00 target price on shares of Taubman Centers in a research note on Tuesday, January 9th. Finally, Citigroup raised their target price on Taubman Centers from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $63.22.
Shares of TCO opened at $57.48 on Monday. Taubman Centers has a 1 year low of $44.78 and a 1 year high of $67.19. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of -23.70. The stock has a market cap of $3,479.15, a PE ratio of 15.54, a P/E/G ratio of 3.40 and a beta of 0.54.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were paid a dividend of $0.655 per share. The ex-dividend date was Wednesday, March 14th. This represents a $2.62 annualized dividend and a yield of 4.56%. This is a boost from Taubman Centers’s previous quarterly dividend of $0.63. Taubman Centers’s dividend payout ratio (DPR) is currently 70.81%.
In other Taubman Centers news, Director Craig M. Hatkoff sold 1,350 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $58.62, for a total value of $79,137.00. Following the completion of the sale, the director now owns 6,013 shares of the company’s stock, valued at $352,482.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 31.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its stake in Taubman Centers by 874.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the real estate investment trust’s stock valued at $160,000 after acquiring an additional 2,196 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in Taubman Centers in the fourth quarter valued at approximately $171,000. Lourd Capital LLC acquired a new stake in Taubman Centers in the fourth quarter valued at approximately $218,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Taubman Centers in the fourth quarter valued at approximately $225,000. Finally, Alps Advisors Inc. acquired a new stake in Taubman Centers in the fourth quarter valued at approximately $232,000.
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Taubman Centers Company Profile
Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.
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