Forsta AP Fonden decreased its stake in shares of Taubman Centers, Inc. (NYSE:TCO) by 45.5% in the 4th quarter, Holdings Channel reports. The firm owned 18,300 shares of the real estate investment trust’s stock after selling 15,300 shares during the quarter. Forsta AP Fonden’s holdings in Taubman Centers were worth $1,197,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of TCO. Parametric Portfolio Associates LLC increased its position in Taubman Centers by 11.0% during the second quarter. Parametric Portfolio Associates LLC now owns 67,614 shares of the real estate investment trust’s stock worth $4,026,000 after purchasing an additional 6,700 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in Taubman Centers during the second quarter worth approximately $227,000. Stifel Financial Corp increased its position in Taubman Centers by 7.0% during the second quarter. Stifel Financial Corp now owns 7,674 shares of the real estate investment trust’s stock worth $457,000 after purchasing an additional 500 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Taubman Centers by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 89,317 shares of the real estate investment trust’s stock worth $5,319,000 after purchasing an additional 1,777 shares during the last quarter. Finally, Aperio Group LLC increased its position in Taubman Centers by 52.0% during the third quarter. Aperio Group LLC now owns 18,721 shares of the real estate investment trust’s stock worth $930,000 after purchasing an additional 6,401 shares during the last quarter.
Several equities analysts recently commented on TCO shares. Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. BMO Capital Markets raised shares of Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price target for the company in a research report on Wednesday, December 13th. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a research report on Friday, November 3rd. Mizuho reaffirmed a “neutral” rating on shares of Taubman Centers in a research report on Wednesday, November 8th. Finally, Citigroup upped their price target on shares of Taubman Centers from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Taubman Centers has a consensus rating of “Hold” and an average price target of $64.20.
Taubman Centers (NYSE:TCO) last released its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.01. Taubman Centers had a net margin of 11.63% and a negative return on equity of 60.45%. The company had revenue of $172.18 million during the quarter, compared to analyst estimates of $164.26 million. During the same quarter in the prior year, the business earned $1.01 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. research analysts forecast that Taubman Centers, Inc. will post 3.79 EPS for the current fiscal year.
In other news, CEO Robert S. Taubman sold 58,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total value of $3,635,440.00. Following the completion of the sale, the chief executive officer now owns 16,953 shares of the company’s stock, valued at $1,062,614.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cornelia Connelly Marakovits acquired 4,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was acquired at an average cost of $63.35 per share, with a total value of $253,400.00. Following the transaction, the director now directly 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 94,668 shares of company stock valued at $5,929,034 in the last three months. Company insiders own 31.20% of the company’s stock.
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Taubman Centers 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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