Taubman Centers (NYSE:TCO) received a $63.00 price target from investment analysts at Sandler O’Neill in a report released on Tuesday, February 13th. The firm presently has a “hold” rating on the real estate investment trust’s stock. Sandler O’Neill’s price target indicates a potential upside of 4.15% from the company’s current price.
A number of other equities research analysts have also recently commented on the company. Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a report on Monday, February 12th. BMO Capital Markets reissued a “hold” rating and set a $62.00 price target on shares of Taubman Centers in a research note on Tuesday, January 9th. Mizuho reissued a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, November 8th. Citigroup increased their price target on Taubman Centers from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Finally, Zacks Investment Research lowered Taubman Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. Taubman Centers has an average rating of “Hold” and an average price target of $64.20.
Taubman Centers (TCO) traded down $0.60 on Tuesday, reaching $60.49. The company’s stock had a trading volume of 156,395 shares, compared to its average volume of 937,572. The stock has a market cap of $3,687.69, a P/E ratio of 67.21, a PEG ratio of 3.58 and a beta of 0.52. Taubman Centers has a 12-month low of $44.78 and a 12-month high of $70.85. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of -21.77.
Taubman Centers (NYSE:TCO) last issued its earnings results on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. The business had revenue of $172.18 million during the quarter, compared to the consensus estimate of $164.26 million. Taubman Centers had a negative return on equity of 60.45% and a net margin of 11.63%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. analysts predict that Taubman Centers will post 3.79 earnings per share for the current fiscal year.
In other Taubman Centers news, Director Craig M. Hatkoff sold 1,350 shares of Taubman Centers stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $58.62, for a total value of $79,137.00. Following the completion of the transaction, the director now directly owns 6,013 shares in the company, valued at $352,482.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert S. Taubman sold 58,000 shares of Taubman Centers stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total value of $3,635,440.00. Following the completion of the transaction, the chief executive officer now owns 16,953 shares of the company’s stock, valued at $1,062,614.04. The disclosure for this sale can be found here. Insiders have sold 94,668 shares of company stock valued at $5,929,034 over the last 90 days. Insiders own 31.20% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its stake in Taubman Centers by 874.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the real estate investment trust’s stock valued at $160,000 after acquiring an additional 2,196 shares during the period. SeaCrest Wealth Management LLC bought a new stake in shares of Taubman Centers during the fourth quarter valued at approximately $171,000. Lourd Capital LLC bought a new stake in shares of Taubman Centers during the fourth quarter valued at approximately $218,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Taubman Centers during the fourth quarter valued at approximately $225,000. Finally, Virtu KCG Holdings LLC bought a new stake in shares of Taubman Centers during the second quarter valued at approximately $227,000.
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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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