Taubman Centers (TCO) Stake Lowered by Prudential Financial Inc.

Prudential Financial Inc. reduced its holdings in Taubman Centers (NYSE:TCO) by 77.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,893 shares of the real estate investment trust’s stock after selling 912,769 shares during the quarter. Prudential Financial Inc. owned approximately 0.44% of Taubman Centers worth $15,360,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TCO. Cbre Clarion Securities LLC acquired a new position in shares of Taubman Centers in the 4th quarter worth approximately $176,250,000. V3 Capital Management L.P. acquired a new position in Taubman Centers during the 4th quarter worth $84,241,000. Brookfield Asset Management Inc. acquired a new position in Taubman Centers during the 4th quarter worth $82,200,000. Long Pond Capital LP lifted its holdings in Taubman Centers by 35.9% during the 4th quarter. Long Pond Capital LP now owns 4,115,222 shares of the real estate investment trust’s stock worth $269,259,000 after buying an additional 1,086,367 shares in the last quarter. Finally, AMP Capital Investors Ltd lifted its holdings in Taubman Centers by 1,468.2% during the 4th quarter. AMP Capital Investors Ltd now owns 1,062,078 shares of the real estate investment trust’s stock worth $69,493,000 after buying an additional 994,350 shares in the last quarter.

Several research analysts have issued reports on the company. ValuEngine downgraded Taubman Centers from a “sell” rating to a “strong sell” rating in a report on Tuesday. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a report on Monday, April 30th. BTIG Research reaffirmed a “hold” rating on shares of Taubman Centers in a report on Sunday, April 29th. BMO Capital Markets set a $62.00 price objective on Taubman Centers and gave the stock a “hold” rating in a report on Thursday, April 26th. Finally, Zacks Investment Research raised Taubman Centers from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. Taubman Centers has an average rating of “Hold” and a consensus price target of $62.25.

Shares of Taubman Centers opened at $52.64 on Wednesday, MarketBeat reports. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 3.44 and a beta of 0.53. Taubman Centers has a 52 week low of $44.78 and a 52 week high of $66.61. The company has a debt-to-equity ratio of -21.43, a current ratio of 0.47 and a quick ratio of 0.47.

Taubman Centers (NYSE:TCO) last issued its earnings results on Thursday, April 26th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.63). The business had revenue of $161.49 million for the quarter, compared to the consensus estimate of $152.82 million. Taubman Centers had a net margin of 11.63% and a negative return on equity of 49.86%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 EPS. sell-side analysts forecast that Taubman Centers will post 3.78 EPS for the current year.

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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Institutional Ownership by Quarter for Taubman Centers (NYSE:TCO)

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