Taubman Centers (NYSE:TCO) had its price objective lifted by Citigroup from $61.00 to $66.00 in a research report released on Thursday morning. The brokerage currently has a neutral rating on the real estate investment trust’s stock.
A number of other equities research analysts also recently weighed in on TCO. BMO Capital Markets set a $62.00 price objective on shares of Taubman Centers and gave the company a hold rating in a research report on Thursday, April 26th. BTIG Research reaffirmed a hold rating on shares of Taubman Centers in a research report on Sunday, April 29th. Boenning Scattergood reaffirmed a hold rating on shares of Taubman Centers in a research report on Monday, April 30th. ValuEngine downgraded shares of Taubman Centers from a hold rating to a sell rating in a research report on Wednesday, May 2nd. Finally, Morgan Stanley lowered their price objective on shares of Taubman Centers from $56.00 to $51.50 and set an underweight rating for the company in a research report on Thursday, June 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $59.93.
Shares of NYSE:TCO traded down $0.80 during trading on Thursday, reaching $62.63. 681,786 shares of the company’s stock traded hands, compared to its average volume of 543,193. 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 12 month low of $44.78 and a 12 month high of $66.61. The company has a market cap of $3.87 billion, a PE ratio of 16.83, a P/E/G ratio of 4.18 and a beta of 0.57.
Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. Taubman Centers had a net margin of 11.95% and a negative return on equity of 41.96%. The business had revenue of $152.76 million during the quarter, compared to the consensus estimate of $151.94 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. research analysts forecast that Taubman Centers will post 3.8 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cbre Clarion Securities LLC grew its position in Taubman Centers by 13.3% in the 2nd quarter. Cbre Clarion Securities LLC now owns 3,305,710 shares of the real estate investment trust’s stock worth $194,244,000 after purchasing an additional 389,099 shares during the last quarter. Heitman Real Estate Securities LLC grew its position in Taubman Centers by 55.4% in the 2nd quarter. Heitman Real Estate Securities LLC now owns 352,066 shares of the real estate investment trust’s stock worth $23,690,000 after purchasing an additional 125,580 shares during the last quarter. FMR LLC grew its position in Taubman Centers by 7.6% in the 2nd quarter. FMR LLC now owns 1,666,623 shares of the real estate investment trust’s stock worth $97,930,000 after purchasing an additional 117,876 shares during the last quarter. Cortina Asset Management LLC bought a new position in Taubman Centers in the 2nd quarter worth about $1,393,000. Finally, Dimensional Fund Advisors LP grew its position in Taubman Centers by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 969,805 shares of the real estate investment trust’s stock worth $56,987,000 after purchasing an additional 5,691 shares during the last quarter.
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. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.
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