Taubman Centers, Inc. (NYSE:TCO) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday, June 30th.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Taubman Centers from a “hold” rating to a “sell” rating in a research report on Thursday, March 23rd. Deutsche Bank AG reduced their target price on Taubman Centers from $72.00 to $68.00 and set a “hold” rating for the company in a research report on Tuesday, March 21st. Jefferies Group LLC restated a “hold” rating and set a $70.00 target price on shares of Taubman Centers in a research report on Monday, April 17th. Morgan Stanley restated an “equal weight” rating and set a $56.00 target price (down from $71.00) on shares of Taubman Centers in a research report on Saturday, June 3rd. Finally, ValuEngine upgraded Taubman Centers from a “hold” rating to a “buy” rating in a report on Tuesday, May 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $75.44.
Shares of Taubman Centers (NYSE:TCO) traded down 7.11% during trading on Friday, reaching $57.50. 1,271,024 shares of the company were exchanged. Taubman Centers has a 52-week low of $56.73 and a 52-week high of $81.68. The stock has a market capitalization of $3.49 billion, a P/E ratio of 34.95 and a beta of 0.50. The stock has a 50-day moving average of $59.59 and a 200 day moving average of $64.43.
Taubman Centers (NYSE:TCO) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The firm had revenue of $154.68 million for the quarter, compared to analyst estimates of $142.16 million. Taubman Centers had a negative return on equity of 168.15% and a net margin of 17.09%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 earnings per share. On average, equities analysts anticipate that Taubman Centers will post $1.23 earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the company. Creative Planning increased its stake 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 valued at $166,000 after buying an additional 206 shares during the last quarter. Daiwa Securities Group Inc. increased its stake 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 valued at $317,000 after buying an additional 1,300 shares during the last quarter. LS Investment Advisors LLC increased its stake 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 valued at $286,000 after buying an additional 692 shares during the last quarter. World Asset Management Inc increased its stake in Taubman Centers by 7.3% in the first quarter. World Asset Management Inc now owns 4,848 shares of the real estate investment trust’s stock valued at $320,000 after buying an additional 328 shares during the last quarter. Finally, Clinton Group Inc. bought a new stake in Taubman Centers during the first quarter valued at $342,000. Institutional investors own 98.53% of the company’s stock.
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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