Taubman Centers, Inc. (NYSE:TCO) – Research analysts at Jefferies Group dropped their FY2018 earnings estimates for Taubman Centers in a research report issued on Monday, Zacks Investment Research reports. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will post earnings per share of $3.70 for the year, down from their previous estimate of $3.77. Jefferies Group currently has a “Neutral” rating on the stock. Jefferies Group also issued estimates for Taubman Centers’ FY2019 earnings at $3.93 EPS.
Taubman Centers (NYSE:TCO) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.06). Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The business had revenue of $153.20 million for the quarter, compared to analysts’ expectations of $155.95 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Taubman Centers’s quarterly revenue was up 3.5% compared to the same quarter last year.
Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Taubman Centers from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a research note on Friday, November 3rd. Mizuho restated a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, November 8th. Morgan Stanley downgraded shares of Taubman Centers from an “equal weight” rating to an “underweight” rating in a research note on Monday, September 18th. Finally, Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $67.14.
Shares of Taubman Centers (NYSE TCO) opened at $58.89 on Tuesday. The company has a debt-to-equity ratio of -21.77, a quick ratio of 0.35 and a current ratio of 0.35. Taubman Centers has a 52 week low of $44.78 and a 52 week high of $76.79. The stock has a market cap of $3,563.23, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 4.81 and a beta of 0.60.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Land & Buildings Investment Management LLC raised its holdings in Taubman Centers by 28.1% in the second quarter. Land & Buildings Investment Management LLC now owns 920,447 shares of the real estate investment trust’s stock valued at $54,813,000 after acquiring an additional 202,000 shares in the last quarter. Prudential Financial Inc. raised its holdings in Taubman Centers by 8.0% in the second quarter. Prudential Financial Inc. now owns 1,262,304 shares of the real estate investment trust’s stock valued at $75,170,000 after acquiring an additional 94,011 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Taubman Centers by 50.0% in the second quarter. Canada Pension Plan Investment Board now owns 10,500 shares of the real estate investment trust’s stock valued at $625,000 after acquiring an additional 3,500 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Taubman Centers by 14.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 608,233 shares of the real estate investment trust’s stock valued at $36,221,000 after acquiring an additional 77,353 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Taubman Centers by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 773,257 shares of the real estate investment trust’s stock valued at $46,048,000 after acquiring an additional 11,689 shares in the last quarter.
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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.
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