Mizuho set a $63.00 price objective on Taubman Centers (NYSE:TCO) in a research report released on Friday morning. The brokerage currently has a hold rating on the real estate investment trust’s stock.
Other analysts have also recently issued reports about the company. Sandler O’Neill set a $63.00 price objective on Taubman Centers and gave the company a hold rating in a research report on Tuesday. Boenning Scattergood reaffirmed a hold rating on shares of Taubman Centers in a research report on Monday, February 12th. BMO Capital Markets reiterated a hold rating and set a $62.00 target price on shares of Taubman Centers in a report on Tuesday, January 9th. Citigroup lifted their target price on shares of Taubman Centers from $58.00 to $61.00 and gave the company a neutral rating in a report on Tuesday. Finally, Zacks Investment Research lowered shares of Taubman Centers from a hold rating to a sell rating in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. Taubman Centers has a consensus rating of Hold and an average price target of $64.20.
Taubman Centers (TCO) traded up $0.75 during trading on Friday, reaching $60.74. The company’s stock had a trading volume of 617,212 shares, compared to its average volume of 923,072. The company has a debt-to-equity ratio of -21.77, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $3,642.15, a PE ratio of 67.49, a price-to-earnings-growth ratio of 3.54 and a beta of 0.52. Taubman Centers has a fifty-two week low of $44.78 and a fifty-two week high of $70.85.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.01. The business had revenue of $172.18 million for the quarter, compared to analysts’ expectations of $164.26 million. Taubman Centers had a negative return on equity of 60.45% and a net margin of 11.63%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. equities analysts forecast that Taubman Centers will post 3.79 EPS for the current year.
In related news, CEO Robert S. Taubman sold 58,000 shares of the business’s 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 directly owns 16,953 shares in the company, valued at approximately $1,062,614.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cornelia Connelly Marakovits acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average price of $63.35 per share, with a total value of $253,400.00. Following the completion of the acquisition, the director now owns 7,403 shares in the company, valued at $468,980.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 94,668 shares of company stock valued at $5,929,034. 31.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in Taubman Centers by 874.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 2,196 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Taubman Centers during the 4th quarter valued at $171,000. Lourd Capital LLC purchased a new stake in Taubman Centers during the 4th quarter valued at $218,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Taubman Centers during the 4th quarter valued at $225,000. Finally, Virtu KCG Holdings LLC purchased a new stake in Taubman Centers during the 2nd quarter valued at $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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