Nisa Investment Advisors LLC lifted its position in Taubman Centers, Inc. (NYSE:TCO) by 17.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,031 shares of the real estate investment trust’s stock after buying an additional 1,961 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Taubman Centers were worth $532,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Duff & Phelps Investment Management Co. boosted its position in Taubman Centers by 4,092.7% during the first quarter. Duff & Phelps Investment Management Co. now owns 473,776 shares of the real estate investment trust’s stock worth $25,053,000 after purchasing an additional 462,476 shares during the period. RB Capital Management LLC bought a new position in Taubman Centers during the first quarter worth $213,000. Malaga Cove Capital LLC boosted its position in Taubman Centers by 1.4% during the first quarter. Malaga Cove Capital LLC now owns 32,797 shares of the real estate investment trust’s stock worth $1,734,000 after purchasing an additional 445 shares during the period. Great West Life Assurance Co. Can boosted its position in Taubman Centers by 0.5% during the first quarter. Great West Life Assurance Co. Can now owns 77,633 shares of the real estate investment trust’s stock worth $4,104,000 after purchasing an additional 365 shares during the period. Finally, Dupont Capital Management Corp boosted its position in Taubman Centers by 21.5% during the first quarter. Dupont Capital Management Corp now owns 36,613 shares of the real estate investment trust’s stock worth $1,936,000 after purchasing an additional 6,474 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. Mizuho set a $43.00 price objective on shares of Taubman Centers and gave the stock a “hold” rating in a research report on Friday, July 26th. Morgan Stanley set a $45.00 price objective on shares of Taubman Centers and gave the stock a “hold” rating in a research report on Thursday, June 20th. ValuEngine cut shares of Taubman Centers from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 22nd. Citigroup set a $43.00 target price on Taubman Centers and gave the stock a “hold” rating in a report on Friday, June 28th. Finally, Zacks Investment Research downgraded Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.73.
In related news, Director Mayree C. Clark purchased 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average price of $51.94 per share, with a total value of $155,820.00. Following the completion of the purchase, the director now directly owns 6,478 shares in the company, valued at $336,467.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 31.00% of the stock is owned by insiders.
Shares of TCO traded down $0.99 during midday trading on Monday, reaching $39.01. 11,111 shares of the stock were exchanged, compared to its average volume of 418,661. Taubman Centers, Inc. has a twelve month low of $39.16 and a twelve month high of $65.50. The stock has a market capitalization of $2.45 billion, a P/E ratio of 10.15, a P/E/G ratio of 2.71 and a beta of 0.71. The firm has a 50 day moving average of $41.16.
Taubman Centers (NYSE:TCO) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.73). Taubman Centers had a negative return on equity of 20.52% and a net margin of 9.68%. The firm had revenue of $161.60 million for the quarter, compared to analyst estimates of $162.17 million. During the same period in the prior year, the business posted $0.92 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts forecast that Taubman Centers, Inc. will post 3.69 earnings per share for the current fiscal 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 26 regional, super-regional and outlet shopping centers in the U.S. and Asia and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.
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