Taubman Centers, Inc. (NYSE:TCO) Short Interest Update

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Taubman Centers, Inc. (NYSE:TCO) saw a significant decline in short interest in June. As of June 30th, there was short interest totalling 3,038,000 shares, a decline of 12.4% from the May 30th total of 3,469,600 shares. Currently, 5.1% of the shares of the stock are sold short. Based on an average daily volume of 436,500 shares, the days-to-cover ratio is currently 7.0 days.

Shares of NYSE:TCO traded down $0.30 during trading on Friday, reaching $40.90. The stock had a trading volume of 272,122 shares, compared to its average volume of 519,194. Taubman Centers has a 52 week low of $39.39 and a 52 week high of $65.50. The firm has a 50-day simple moving average of $42.96. The company has a market cap of $2.52 billion, a PE ratio of 10.68, a PEG ratio of 2.80 and a beta of 0.72.

Taubman Centers (NYSE:TCO) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.65). Taubman Centers had a net margin of 11.23% and a negative return on equity of 24.45%. The firm had revenue of $160.28 million during the quarter, compared to the consensus estimate of $161.24 million. During the same quarter last year, the firm posted $1.04 EPS. The business’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts anticipate that Taubman Centers will post 3.68 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 6.60%. The ex-dividend date of this dividend was Thursday, June 13th. Taubman Centers’s dividend payout ratio (DPR) is presently 70.50%.

A number of equities research analysts have weighed in on TCO shares. Zacks Investment Research downgraded HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Deutsche Bank set a $60.00 price objective on Taubman Centers and gave the company a “hold” rating in a report on Tuesday, June 11th. ValuEngine raised Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd. Citigroup reaffirmed a “buy” rating on shares of Healthequity in a report on Friday, June 28th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of in a report on Thursday, June 20th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Taubman Centers currently has an average rating of “Hold” and a consensus target price of $57.18.

In related news, Director Mayree C. Clark acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $51.94 per share, with a total value of $155,820.00. Following the completion of the acquisition, the director now owns 6,478 shares of the company’s stock, valued at $336,467.32. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 31.00% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its position in Taubman Centers by 174.6% in the 1st quarter. Quadrant Capital Group LLC now owns 670 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 426 shares during the last quarter. Nalls Sherbakoff Group LLC bought a new position in Taubman Centers in the 4th quarter worth approximately $37,000. Marshall Wace North America L.P. bought a new position in Taubman Centers in the 1st quarter worth approximately $37,000. First Hawaiian Bank raised its position in Taubman Centers by 28.4% in the 1st quarter. First Hawaiian Bank now owns 1,460 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 323 shares during the last quarter. Finally, Klingenstein Fields & Co. LLC bought a new position in Taubman Centers in the 1st quarter worth approximately $202,000. Hedge funds and other institutional investors own 99.50% of the company’s stock.

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 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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