TCO has been the subject of a number of other research reports. Zacks Investment Research lowered Taubman Centers from a hold rating to a sell rating in a research report on Tuesday, October 24th. Boenning Scattergood reaffirmed a hold rating on shares of Taubman Centers in a research report on Friday, November 3rd. Jefferies Group LLC reaffirmed a hold rating and set a $57.00 price objective on shares of Taubman Centers in a research report on Tuesday, September 26th. BidaskClub raised Taubman Centers from a hold rating to a buy rating in a research report on Wednesday, July 19th. Finally, J P Morgan Chase & Co lowered Taubman Centers from an overweight rating to a neutral rating and reduced their price objective for the company from $64.00 to $57.00 in a research report on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Taubman Centers presently has an average rating of Hold and an average price target of $67.14.
Taubman Centers (TCO) traded up $2.92 during mid-day trading on Wednesday, reaching $53.11. The company had a trading volume of 1,649,700 shares, compared to its average volume of 909,471. Taubman Centers has a one year low of $44.78 and a one year high of $76.79. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of -21.77. The company has a market cap of $3,224.47, a price-to-earnings ratio of 14.67, a PEG ratio of 4.29 and a beta of 0.52.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $153.20 million for the quarter, compared to the consensus estimate of $155.95 million. During the same period last year, the business earned $0.94 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. equities research analysts predict that Taubman Centers will post 3.72 earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of TCO. Creative Planning increased its holdings in shares of Taubman Centers by 8.0% in the 2nd quarter. Creative Planning now owns 2,790 shares of the real estate investment trust’s stock worth $166,000 after purchasing an additional 206 shares in the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Taubman Centers in the 2nd quarter worth $227,000. Riverhead Capital Management LLC boosted its stake in shares of Taubman Centers by 83.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,397 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 1,997 shares during the last quarter. Shelton Capital Management purchased a new position in shares of Taubman Centers in the 2nd quarter worth $269,000. Finally, LS Investment Advisors LLC boosted its stake in shares of Taubman Centers by 16.8% in the 2nd 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.
About Taubman Centers
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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