Taubman Centers (TCO) Now Covered by Scotiabank

Scotiabank started coverage on shares of Taubman Centers (NYSE:TCO) in a report issued on Tuesday, The Fly reports. The brokerage set an “underperform” rating on the real estate investment trust’s stock.

TCO has been the subject of a number of other reports. Jefferies Financial Group reiterated a “hold” rating and issued a $63.00 target price on shares of Taubman Centers in a research report on Wednesday, September 5th. ValuEngine upgraded shares of Taubman Centers from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. Bank of America increased their target price on shares of Taubman Centers from $60.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, August 13th. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Finally, Evercore ISI cut shares of Taubman Centers from an “in-line” rating to an “underperform” rating and set a $63.00 price objective for the company. in a research report on Monday, September 10th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Taubman Centers presently has a consensus rating of “Hold” and an average price target of $62.19.

Shares of NYSE TCO opened at $54.07 on Tuesday. The stock has a market capitalization of $3.65 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 4.10 and a beta of 0.54. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of -18.16. Taubman Centers has a 52 week low of $44.78 and a 52 week high of $66.61.

Taubman Centers (NYSE:TCO) last issued its earnings results on Monday, July 30th. The real estate investment trust reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. The business had revenue of $152.76 million during the quarter, compared to analysts’ expectations of $151.94 million. Taubman Centers had a net margin of 11.95% and a negative return on equity of 41.96%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 earnings per share. As a group, equities research analysts predict that Taubman Centers will post 3.8 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. World Asset Management Inc acquired a new stake in Taubman Centers during the second quarter worth about $210,000. Fox Run Management L.L.C. acquired a new stake in Taubman Centers during the second quarter worth about $215,000. GSA Capital Partners LLP acquired a new stake in Taubman Centers during the first quarter worth about $254,000. Dynamic Technology Lab Private Ltd acquired a new stake in Taubman Centers during the first quarter worth about $261,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Taubman Centers during the second quarter worth about $409,000.

About Taubman Centers

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.

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