First Trust Advisors LP Grows Stock Holdings in Taubman Centers, Inc. (NYSE:TCO)

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First Trust Advisors LP boosted its stake in shares of Taubman Centers, Inc. (NYSE:TCO) by 7.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,913 shares of the real estate investment trust’s stock after buying an additional 998 shares during the quarter. First Trust Advisors LP’s holdings in Taubman Centers were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cohen & Steers Inc. lifted its position in shares of Taubman Centers by 2.6% during the 2nd quarter. Cohen & Steers Inc. now owns 5,533,770 shares of the real estate investment trust’s stock valued at $225,944,000 after acquiring an additional 142,767 shares during the period. Centersquare Investment Management LLC increased its stake in Taubman Centers by 32.1% in the 2nd quarter. Centersquare Investment Management LLC now owns 1,601,968 shares of the real estate investment trust’s stock valued at $65,409,000 after purchasing an additional 389,327 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Taubman Centers by 1.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,019,039 shares of the real estate investment trust’s stock worth $41,608,000 after purchasing an additional 16,223 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Taubman Centers by 11.7% during the second quarter. Bank of New York Mellon Corp now owns 1,000,303 shares of the real estate investment trust’s stock worth $40,841,000 after purchasing an additional 104,486 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Taubman Centers by 2.3% during the second quarter. Northern Trust Corp now owns 904,410 shares of the real estate investment trust’s stock worth $36,926,000 after purchasing an additional 20,338 shares in the last quarter. Institutional investors own 99.60% of the company’s stock.

Shares of NYSE:TCO opened at $31.66 on Wednesday. The business’s fifty day moving average price is $35.35 and its two-hundred day moving average price is $40.01. The stock has a market cap of $1.99 billion, a PE ratio of 8.27, a price-to-earnings-growth ratio of 2.23 and a beta of 0.64. Taubman Centers, Inc. has a one year low of $30.64 and a one year high of $54.50.

A number of research analysts have recently weighed in on TCO shares. Citigroup dropped their price target on Taubman Centers from $43.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. ValuEngine upgraded shares of Taubman Centers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered shares of Taubman Centers from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $51.00 to $42.00 in a research report on Tuesday, October 8th. Sandler O’Neill cut shares of Taubman Centers from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley dropped their target price on shares of Taubman Centers from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Taubman Centers has a consensus rating of “Hold” and an average price target of $50.14.

About Taubman Centers

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

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