Taubman Centers, Inc. (NYSE:TCO) Downgraded by BidaskClub to “Hold”

Taubman Centers, Inc. (NYSE:TCO) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, July 11th.

A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. KeyCorp dropped their target price on shares of Taubman Centers from $85.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday, June 28th. Morgan Stanley reissued an “equal weight” rating and issued a $56.00 price objective (down previously from $71.00) on shares of Taubman Centers in a report on Saturday, June 3rd. ValuEngine lowered shares of Taubman Centers from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Deutsche Bank AG upped their price objective on shares of Taubman Centers from $68.00 to $71.00 and gave the company a “hold” rating in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $75.00.

Shares of Taubman Centers (TCO) traded down 0.12% on Tuesday, reaching $57.05. 464,138 shares of the company were exchanged. The firm’s 50 day moving average price is $59.37 and its 200 day moving average price is $63.94. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 44.09 and a beta of 0.49. Taubman Centers has a 52 week low of $56.14 and a 52 week high of $80.86.

Taubman Centers (NYSE:TCO) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. Taubman Centers had a net margin of 14.71% and a negative return on equity of 110.46%. The business had revenue of $154.68 million during the quarter, compared to analyst estimates of $142.16 million. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts anticipate that Taubman Centers will post $1.15 EPS for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning boosted its position in Taubman Centers by 8.0% in the second quarter. Creative Planning now owns 2,790 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 206 shares during the last quarter. LS Investment Advisors LLC boosted its position in Taubman Centers by 16.8% in the second quarter. LS Investment Advisors LLC now owns 4,805 shares of the real estate investment trust’s stock worth $286,000 after buying an additional 692 shares during the last quarter. World Asset Management Inc boosted its position in Taubman Centers by 1.4% in the second quarter. World Asset Management Inc now owns 4,917 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 69 shares during the last quarter. GAM Holding AG boosted its position in Taubman Centers by 3.3% in the second quarter. GAM Holding AG now owns 5,154 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 166 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Taubman Centers by 37.1% in the first quarter. Daiwa Securities Group Inc. now owns 4,800 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 1,300 shares during the last quarter. 98.73% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Taubman Centers (NYSE:TCO)

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