Taubman Centers, Inc. (NYSE:TCO) – Research analysts at Boenning Scattergood lowered their Q2 2018 earnings per share estimates for Taubman Centers in a note issued to investors on Tuesday, Zacks Investment Research reports. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will post earnings of $0.90 per share for the quarter, down from their previous estimate of $0.95. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Taubman Centers’ Q3 2018 earnings at $0.95 EPS, FY2018 earnings at $3.85 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $0.89 EPS, Q3 2019 earnings at $0.97 EPS, Q4 2019 earnings at $1.11 EPS and FY2019 earnings at $3.92 EPS.
Several other research firms also recently weighed in on TCO. BMO Capital Markets raised shares of Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price target for the company in a research note on Wednesday, December 13th. Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Jefferies Group reissued a “neutral” rating on shares of Taubman Centers in a research note on Friday, October 13th. Finally, Mizuho reissued a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $65.00.
Shares of Taubman Centers (TCO) opened at $59.38 on Wednesday. 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 12 month low of $44.78 and a 12 month high of $71.77. The firm has a market cap of $3,661.58, a P/E ratio of 56.55, a PEG ratio of 4.77 and a beta of 0.52.
In other Taubman Centers news, Director Cornelia Connelly Marakovits acquired 4,000 shares of Taubman Centers stock in a transaction that occurred on Friday, December 15th. The stock was bought at an average price of $63.35 per share, with a total value of $253,400.00. Following the completion of the purchase, the director now directly owns 7,403 shares of the company’s stock, valued at approximately $468,980.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert S. Taubman sold 58,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total value of $3,635,440.00. Following the transaction, the chief executive officer now directly owns 16,953 shares in the company, valued at $1,062,614.04. The disclosure for this sale can be found here. Insiders sold 93,318 shares of company stock valued at $5,849,897 in the last three months. 31.20% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position 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 increased its position in shares of Taubman Centers by 0.5% during the second quarter. State Street Corp now owns 2,665,010 shares of the real estate investment trust’s stock worth $158,705,000 after purchasing an additional 13,584 shares in the last quarter. Citigroup Inc. increased its position 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. Land & Buildings Investment Management LLC increased its position in shares of Taubman Centers by 14.5% during the third quarter. Land & Buildings Investment Management LLC now owns 1,053,547 shares of the real estate investment trust’s stock worth $52,361,000 after purchasing an additional 133,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Taubman Centers by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 923,894 shares of the real estate investment trust’s stock worth $45,919,000 after purchasing an additional 28,282 shares in the last quarter.
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Taubman Centers Company Profile
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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