Dimensional Fund Advisors LP Increases Position in Taubman Centers, Inc. (TCO)

Dimensional Fund Advisors LP lifted its holdings in shares of Taubman Centers, Inc. (NYSE:TCO) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 895,612 shares of the real estate investment trust’s stock after purchasing an additional 29,320 shares during the quarter. Dimensional Fund Advisors LP owned 1.48% of Taubman Centers worth $53,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Taubman Centers by 1.3% during the second quarter. BlackRock Inc. now owns 6,495,611 shares of the real estate investment trust’s stock worth $386,814,000 after purchasing an additional 82,291 shares in the last quarter. State Street Corp grew its holdings in shares of Taubman Centers by 0.9% during the first quarter. State Street Corp now owns 2,651,426 shares of the real estate investment trust’s stock worth $175,050,000 after purchasing an additional 24,806 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Taubman Centers by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,599,830 shares of the real estate investment trust’s stock worth $171,641,000 after purchasing an additional 16,247 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Taubman Centers by 2.1% during the second quarter. Citigroup Inc. now owns 2,147,396 shares of the real estate investment trust’s stock worth $127,878,000 after purchasing an additional 44,342 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Taubman Centers by 8.0% during the second quarter. Prudential Financial Inc. now owns 1,262,304 shares of the real estate investment trust’s stock worth $75,170,000 after purchasing an additional 94,011 shares in the last quarter.

Several research analysts have recently commented on the company. Zacks Investment Research lowered Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub raised Taubman Centers from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Jefferies Group LLC restated a “hold” rating and issued a $57.00 target price on shares of Taubman Centers in a research report on Tuesday, September 26th. Boenning Scattergood restated a “hold” rating on shares of Taubman Centers in a research report on Monday, July 31st. Finally, J P Morgan Chase & Co downgraded Taubman Centers from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $64.00 to $57.00 in a research report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $67.14.

Shares of Taubman Centers, Inc. (TCO) opened at 47.96 on Friday. The company has a market cap of $2.91 billion, a P/E ratio of 37.06 and a beta of 0.50. Taubman Centers, Inc. has a 12 month low of $47.01 and a 12 month high of $76.79. The firm has a 50-day moving average price of $50.65 and a 200 day moving average price of $57.00.

Taubman Centers (NYSE:TCO) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Taubman Centers had a negative return on equity of 110.46% and a net margin of 14.71%. The company had revenue of $154.68 million during the quarter, compared to the consensus estimate of $142.16 million. During the same period in the previous year, the firm posted $1.04 EPS. Taubman Centers’s revenue was down 2.6% on a year-over-year basis. Equities analysts predict that Taubman Centers, Inc. will post $1.07 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.50 annualized dividend and a dividend yield of 5.21%. Taubman Centers’s dividend payout ratio is presently 193.80%.

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In related news, Director Myron E. Ullman III acquired 12,325 shares of the stock in a transaction dated Wednesday, August 9th. The stock was bought at an average cost of $56.90 per share, with a total value of $701,292.50. Following the purchase, the director now directly owns 16,646 shares of the company’s stock, valued at $947,157.40. The transaction was disclosed in a filing with the SEC, which is available through this link. 31.20% of the stock is owned by insiders.

About Taubman Centers

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.

Institutional Ownership by Quarter for Taubman Centers (NYSE:TCO)

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