Taubman Centers, Inc. (NYSE:TCO) – Equities research analysts at Jefferies Group issued their Q1 2018 earnings estimates for shares of Taubman Centers in a report released on Tuesday. Jefferies Group analyst O. Okusanya forecasts that the real estate investment trust will post earnings of $0.92 per share for the quarter. Jefferies Group also issued estimates for Taubman Centers’ Q2 2018 earnings at $0.86 EPS, Q3 2018 earnings at $0.90 EPS, Q4 2018 earnings at $1.08 EPS, FY2018 earnings at $3.77 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $0.95 EPS, Q4 2019 earnings at $1.16 EPS and FY2019 earnings at $3.96 EPS.
Other analysts have also recently issued reports about the company. Citigroup upped their target price on Taubman Centers from $58.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Sandler O’Neill set a $63.00 target price on Taubman Centers and gave the company a “hold” rating in a research report on Tuesday, February 13th. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a research report on Monday, February 12th. BMO Capital Markets reissued a “hold” rating and issued a $62.00 target price on shares of Taubman Centers in a research report on Tuesday, January 9th. Finally, Mizuho set a $63.00 target price on Taubman Centers and gave the company a “hold” rating in a research report on Friday, February 16th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $64.20.
Shares of Taubman Centers (TCO) opened at $59.13 on Thursday. The stock has a market capitalization of $3,708.94, a PE ratio of 16.78, a P/E/G ratio of 3.60 and a beta of 0.52. The company has a debt-to-equity ratio of -21.77, a current ratio of 0.35 and a quick ratio of 0.35. Taubman Centers has a 1 year low of $44.78 and a 1 year high of $70.85.
Taubman Centers (NYSE:TCO) last released its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. The business had revenue of $172.18 million for 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 business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS.
In other Taubman Centers news, CEO Robert S. Taubman sold 58,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total transaction of $3,635,440.00. Following the completion of the sale, the chief executive officer now directly owns 16,953 shares of the company’s stock, valued at approximately $1,062,614.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cornelia Connelly Marakovits acquired 4,000 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were bought at an average cost of $63.35 per share, with a total value of $253,400.00. Following the completion of the transaction, the director now directly owns 7,403 shares in the company, valued at approximately $468,980.05. The disclosure for this purchase can be found here. Insiders have sold a total of 94,668 shares of company stock valued at $5,929,034 over the last ninety days. 31.20% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB acquired a new stake in Taubman Centers during the 4th quarter worth approximately $392,000. Brookfield Asset Management Inc. acquired a new stake in Taubman Centers during the 4th quarter worth approximately $82,200,000. MetLife Investment Advisors LLC acquired a new stake in Taubman Centers during the 4th quarter worth approximately $2,513,000. Element Capital Management LLC acquired a new stake in Taubman Centers during the 4th quarter worth approximately $15,348,000. Finally, Macquarie Group Ltd. lifted its position in Taubman Centers by 317.9% during the 4th quarter. Macquarie Group Ltd. now owns 158,640 shares of the real estate investment trust’s stock worth $9,467,000 after acquiring an additional 120,683 shares during the period.
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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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