Taubman Centers, Inc. (NYSE:TCO) CAO David A. Wolff sold 318 shares of the stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $64.96, for a total value of $20,657.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Taubman Centers, Inc. (NYSE TCO) opened at $61.34 on Thursday. Taubman Centers, Inc. has a 12 month low of $44.78 and a 12 month high of $73.88. The stock has a market capitalization of $3,720.00, a PE ratio of 57.87, a PEG ratio of 5.02 and a beta of 0.61. 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 (NYSE:TCO) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.06). The business had revenue of $153.20 million during the quarter, compared to the consensus estimate of $155.95 million. Taubman Centers had a return on equity of 66.09% and a net margin of 0.34%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 earnings per share. sell-side analysts anticipate that Taubman Centers, Inc. will post 3.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were paid a $0.625 dividend. The ex-dividend date was Thursday, December 14th. This represents a $2.50 annualized dividend and a dividend yield of 4.08%. Taubman Centers’s payout ratio is presently 235.85%.
A number of research firms recently commented on TCO. Zacks Investment Research cut Taubman Centers from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. BMO Capital Markets raised Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 target price on the stock in a research note on Wednesday, December 13th. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a research note on Friday, November 3rd. Mizuho reaffirmed a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, November 8th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $57.00 price objective on shares of Taubman Centers in a research note on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, ten 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 a consensus target price of $66.50.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu KCG Holdings LLC bought a new stake in shares of Taubman Centers in the second quarter worth about $227,000. Riverhead Capital Management LLC grew its stake in shares of Taubman Centers by 83.2% in the second quarter. Riverhead Capital Management LLC now owns 4,397 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 1,997 shares during the last quarter. Shelton Capital Management bought a new stake in shares of Taubman Centers in the second quarter worth about $269,000. GAM Holding AG grew its stake in shares of Taubman Centers by 3.3% in the second quarter. GAM Holding AG now owns 5,154 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 166 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Taubman Centers by 21.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,231 shares of the real estate investment trust’s stock worth $431,000 after purchasing an additional 1,280 shares during 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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