Brokerages predict that Taubman Centers (NYSE:TCO) will report $144.04 million in sales for the current fiscal quarter, according to Zacks. Fourteen analysts have provided estimates for Taubman Centers’ earnings, with estimates ranging from $136.28 million to $159.28 million. Taubman Centers posted sales of $149.08 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.4%. The business is expected to announce its next earnings results after the market closes on Thursday, April 26th.
On average, analysts expect that Taubman Centers will report full year sales of $596.71 million for the current year, with estimates ranging from $571.88 million to $667.60 million. For the next fiscal year, analysts anticipate that the business will report sales of $617.90 million per share, with estimates ranging from $588.64 million to $698.75 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Taubman Centers.
Taubman Centers (NYSE:TCO) last released its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.01. Taubman Centers had a net margin of 11.63% and a negative return on equity of 57.04%. The company had revenue of $172.18 million during the quarter, compared to analyst estimates of $164.26 million. During the same quarter in the prior year, the business earned $1.01 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year.
Several research firms have recently issued reports on TCO. Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Mizuho set a $63.00 price objective on shares of Taubman Centers and gave the stock a “hold” rating in a research report on Friday, February 16th. Citigroup raised their price target 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. Sandler O’Neill set a $63.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a report on Tuesday, February 13th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $62.00 price target on shares of Taubman Centers in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. Taubman Centers has a consensus rating of “Hold” and an average price target of $63.22.
Shares of Taubman Centers stock traded down $2.11 during trading hours on Monday, hitting $55.59. The company’s stock had a trading volume of 203,053 shares, compared to its average volume of 741,011. Taubman Centers has a 1-year low of $44.78 and a 1-year high of $66.84. The firm has a market capitalization of $3,524.83, a P/E ratio of 15.59, a PEG ratio of 3.45 and a beta of 0.54. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of -23.70.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 15th were paid a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 4.71%. This is an increase from Taubman Centers’s previous quarterly dividend of $0.63. The ex-dividend date was Wednesday, March 14th. Taubman Centers’s dividend payout ratio is 70.81%.
In other Taubman Centers 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 directly owns 6,013 shares in the company, valued at approximately $352,482.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 31.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in Taubman Centers by 874.9% in 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 purchasing an additional 2,196 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Taubman Centers during the 4th quarter valued at about $171,000. Lourd Capital LLC acquired a new position in Taubman Centers during the 4th quarter valued at about $218,000. Raymond James Financial Services Advisors Inc. acquired a new position in Taubman Centers during the 4th quarter valued at about $225,000. Finally, Alps Advisors Inc. acquired a new position in Taubman Centers during the 4th quarter valued at about $232,000.
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About Taubman Centers
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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