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.
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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