Taubman Centers, Inc. (NYSE:TCO) has received a consensus recommendation of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $42.11.
A number of analysts have recently issued reports on TCO shares. JPMorgan Chase & Co. dropped their target price on Taubman Centers from $52.50 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, June 18th. Compass Point assumed coverage on Taubman Centers in a research note on Thursday, June 4th. They issued a “neutral” rating and a $42.00 price target for the company. ValuEngine downgraded Taubman Centers from a “hold” rating to a “sell” rating in a research note on Friday, April 24th. Piper Sandler downgraded Taubman Centers from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $52.50 to $20.00 in a research note on Wednesday, June 10th. Finally, Deutsche Bank decreased their target price on Taubman Centers from $36.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, June 18th.
A number of institutional investors have recently added to or reduced their stakes in the business. Pentwater Capital Management LP acquired a new position in shares of Taubman Centers during the first quarter valued at about $83,760,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Taubman Centers during the first quarter valued at about $57,405,000. Alpine Associates Management Inc. acquired a new position in shares of Taubman Centers during the first quarter valued at about $56,978,000. Water Island Capital LLC acquired a new position in shares of Taubman Centers during the first quarter valued at about $41,949,000. Finally, York Capital Management Global Advisors LLC acquired a new position in Taubman Centers in the first quarter worth about $35,744,000. 99.00% of the stock is owned by hedge funds and other institutional investors.
NYSE:TCO traded down $0.20 during trading hours on Friday, reaching $38.50. 14,237 shares of the company traded hands, compared to its average volume of 2,892,343. Taubman Centers has a 1-year low of $26.24 and a 1-year high of $53.40. The firm’s 50-day moving average is $39.58 and its 200-day moving average is $39.95. The stock has a market cap of $2.36 billion, a P/E ratio of 11.46 and a beta of -0.06.
Taubman Centers (NYSE:TCO) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.55). Taubman Centers had a negative return on equity of 107.89% and a net margin of 34.24%. The firm had revenue of $159.46 million during the quarter, compared to analysts’ expectations of $158.94 million. During the same period last year, the business posted $0.95 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that Taubman Centers will post 3.23 EPS for the current year.
About Taubman Centers
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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