Taubman Centers, Inc. (NYSE:TCO) – Boenning Scattergood cut their Q2 2018 earnings estimates for shares of Taubman Centers in a research report issued on Tuesday, according to Zacks Investment Research. Boenning Scattergood analyst F. Van. Dijkum now expects that the real estate investment trust will earn $0.90 per share for the quarter, down from their prior forecast of $0.95. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Taubman Centers’ Q3 2018 earnings at $0.95 EPS, FY2018 earnings at $3.85 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $0.89 EPS, Q3 2019 earnings at $0.97 EPS, Q4 2019 earnings at $1.11 EPS and FY2019 earnings at $3.92 EPS.
Taubman Centers (NYSE:TCO) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.06). Taubman Centers had a net margin of 13.21% and a negative return on equity of 75.87%. The firm had revenue of $153.20 million during the quarter, compared to analysts’ expectations of $155.95 million. During the same quarter in the prior year, the company earned $0.94 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis.
Taubman Centers (TCO) traded down $1.45 during midday trading on Wednesday, reaching $61.05. 568,100 shares of the company were exchanged, compared to its average volume of 1,092,690. Taubman Centers has a 1-year low of $44.78 and a 1-year high of $73.15. The company has a debt-to-equity ratio of -21.77, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market capitalization of $3,794.54, a P/E ratio of 58.14, a PEG ratio of 4.92 and a beta of 0.61.
A number of institutional investors have recently made changes to their positions in TCO. Virtu KCG Holdings LLC bought a new stake in Taubman Centers during the second quarter valued at approximately $227,000. Riverhead Capital Management LLC lifted its position in Taubman Centers by 83.2% during the second quarter. Riverhead Capital Management LLC now owns 4,397 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 1,997 shares during the last quarter. Shelton Capital Management bought a new stake in Taubman Centers during the second quarter valued at approximately $269,000. Cubist Systematic Strategies LLC bought a new stake in Taubman Centers during the third quarter valued at approximately $368,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Taubman Centers during the third quarter valued at approximately $370,000.
In other Taubman Centers news, COO William S. Taubman sold 35,000 shares of Taubman Centers stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total transaction of $2,193,800.00. Following the completion of the sale, the chief operating officer now directly owns 67,633 shares in the company, valued at $4,239,236.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cornelia Connelly Marakovits bought 4,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were bought at an average price of $63.35 per share, with a total value of $253,400.00. Following the completion of the transaction, the director now owns 7,403 shares of the company’s stock, valued at $468,980.05. The disclosure for this purchase can be found here. Insiders sold 93,318 shares of company stock valued at $5,849,897 over the last 90 days. 31.20% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a $0.625 dividend. The ex-dividend date was Thursday, December 14th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.10%. Taubman Centers’s dividend payout ratio (DPR) is currently 238.10%.
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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.
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