Taubman Centers (NYSE:TCO) – Stock analysts at Jefferies Group reduced their FY2018 EPS estimates for shares of Taubman Centers in a research report issued on Thursday, April 12th. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will post earnings of $3.76 per share for the year, down from their previous estimate of $3.77. Jefferies Group also issued estimates for Taubman Centers’ FY2019 earnings at $3.95 EPS.
A number of other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Taubman Centers from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Mizuho set a $63.00 price target on shares of Taubman Centers and gave the stock a “hold” rating in a report on Friday, February 16th. Sandler O’Neill set a $63.00 price target on shares of Taubman Centers and gave the stock a “hold” rating in a report on Tuesday, February 13th. Citigroup increased 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, February 13th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Taubman Centers currently has a consensus rating of “Hold” and a consensus price target of $63.22.
Shares of NYSE:TCO opened at $57.87 on Monday. The firm has a market capitalization of $3,479.15, a PE ratio of 15.64, a P/E/G ratio of 3.40 and a beta of 0.54. Taubman Centers has a one year low of $44.78 and a one year high of $67.19. The company has a debt-to-equity ratio of -23.70, a quick ratio of 0.40 and a current ratio of 0.40.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.01. The firm had revenue of $172.18 million for the quarter, compared to analyst estimates of $164.26 million. Taubman Centers had a net margin of 11.63% and a negative return on equity of 57.04%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were issued a dividend of $0.655 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $2.62 annualized dividend and a dividend yield of 4.53%. This is a positive change from Taubman Centers’s previous quarterly dividend of $0.63. Taubman Centers’s dividend payout ratio (DPR) is currently 70.81%.
In related news, Director Craig M. Hatkoff sold 1,350 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $58.62, for a total transaction of $79,137.00. Following the transaction, the director now owns 6,013 shares of the company’s stock, valued at approximately $352,482.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 31.20% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Taubman Centers by 162.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,531 shares of the real estate investment trust’s stock valued at $13,814,000 after buying an additional 169,730 shares during the period. Dimensional Fund Advisors LP boosted its position in Taubman Centers by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 923,894 shares of the real estate investment trust’s stock valued at $45,919,000 after buying an additional 28,282 shares during the period. AMP Capital Investors Ltd boosted its position in Taubman Centers by 228.3% during the 3rd quarter. AMP Capital Investors Ltd now owns 67,728 shares of the real estate investment trust’s stock valued at $3,366,000 after buying an additional 47,100 shares during the period. Asset Management One Co. Ltd. boosted its position in Taubman Centers by 1.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 131,663 shares of the real estate investment trust’s stock valued at $6,615,000 after buying an additional 1,458 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Taubman Centers during the 3rd quarter valued at $368,000.
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Taubman Centers Company Profile
Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.
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