Taubman Centers, Inc. (NYSE:TCO) Receives $57.18 Average Target Price from Analysts

Taubman Centers, Inc. (NYSE:TCO) has received a consensus rating of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $57.18.

TCO has been the topic of several research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of in a research report on Thursday, June 20th. Citigroup reaffirmed a “buy” rating on shares of Healthequity in a research report on Friday, June 28th. Zacks Investment Research lowered HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. ValuEngine raised Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd. Finally, Deutsche Bank set a $60.00 price objective on Taubman Centers and gave the company a “hold” rating in a report on Tuesday, June 11th.

In related news, Director Mayree C. Clark acquired 3,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $51.94 per share, with a total value of $155,820.00. Following the acquisition, the director now owns 6,478 shares in the company, valued at approximately $336,467.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 31.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC grew its holdings in Taubman Centers by 174.6% in the 1st quarter. Quadrant Capital Group LLC now owns 670 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 426 shares during the last quarter. Nalls Sherbakoff Group LLC bought a new stake in shares of Taubman Centers in the 4th quarter worth approximately $37,000. Marshall Wace North America L.P. bought a new stake in shares of Taubman Centers in the 1st quarter worth approximately $37,000. First Hawaiian Bank lifted its position in shares of Taubman Centers by 28.4% in the 1st quarter. First Hawaiian Bank now owns 1,460 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 323 shares during the period. Finally, Klingenstein Fields & Co. LLC bought a new stake in shares of Taubman Centers in the 1st quarter worth approximately $202,000. 99.16% of the stock is currently owned by hedge funds and other institutional investors.

Taubman Centers stock traded up $0.11 during mid-day trading on Friday, hitting $40.41. The company’s stock had a trading volume of 14,024 shares, compared to its average volume of 490,763. The stock’s 50 day moving average is $42.21. The firm has a market cap of $2.54 billion, a P/E ratio of 10.59, a PEG ratio of 2.85 and a beta of 0.72. Taubman Centers has a 52-week low of $39.39 and a 52-week high of $65.50.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.65). The business had revenue of $160.28 million during the quarter, compared to analysts’ expectations of $161.24 million. Taubman Centers had a negative return on equity of 24.45% and a net margin of 11.23%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 earnings per share. As a group, analysts predict that Taubman Centers will post 3.65 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date was Thursday, June 13th. Taubman Centers’s dividend payout ratio is 70.50%.

Taubman Centers Company Profile

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 and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.

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Analyst Recommendations for Taubman Centers (NYSE:TCO)

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