Taubman Centers Inc. (NYSE:TCO) has been given an average rating of “Buy” by the fifteen ratings firms that are covering the stock. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $83.40.
A number of research firms have recently issued reports on TCO. Morgan Stanley set a $81.00 price objective on shares of Taubman Centers and gave the stock a “buy” rating in a report on Thursday, August 11th. Mizuho reiterated a “buy” rating and issued a $89.00 target price on shares of Taubman Centers in a research report on Thursday, September 1st. Zacks Investment Research upgraded shares of Taubman Centers from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Monday, July 18th. Jefferies Group lifted their target price on shares of Taubman Centers from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, August 31st. Finally, BTIG Research assumed coverage on shares of Taubman Centers in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock.
Several institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in shares of Taubman Centers by 57.1% in the first quarter. Goldman Sachs Group Inc. now owns 342,070 shares of the real estate investment trust’s stock valued at $24,365,000 after buying an additional 124,270 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Taubman Centers during the first quarter valued at about $1,021,000. Americafirst Capital Management LLC bought a new position in shares of Taubman Centers during the second quarter valued at about $103,000. Strs Ohio boosted its position in shares of Taubman Centers by 51.8% in the second quarter. Strs Ohio now owns 784,330 shares of the real estate investment trust’s stock valued at $58,197,000 after buying an additional 267,709 shares in the last quarter. Finally, Cornerstone Real Estate Advisers LLC boosted its position in shares of Taubman Centers by 36.9% in the second quarter. Cornerstone Real Estate Advisers LLC now owns 103,170 shares of the real estate investment trust’s stock valued at $7,655,000 after buying an additional 27,799 shares in the last quarter. Institutional investors own 96.95% of the company’s stock.
Taubman Centers (NYSE:TCO) traded up 0.35% during trading on Monday, hitting $76.75. 148,101 shares of the stock were exchanged. The stock has a 50 day moving average of $77.34 and a 200-day moving average of $73.32. The stock has a market cap of $4.64 billion, a P/E ratio of 40.39 and a beta of 0.91. Taubman Centers has a 52 week low of $63.32 and a 52 week high of $81.68.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Taubman Centers had a net margin of 21.45% and a return on equity of 173.60%. The company earned $158.90 million during the quarter, compared to the consensus estimate of $147.45 million. During the same period in the previous year, the firm posted $0.76 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. Equities analysts expect that Taubman Centers will post $3.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Tuesday, September 13th. Taubman Centers’s dividend payout ratio is currently 126.60%.
About Taubman Centers
Taubman Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s segment is focused on owning, developing and managing regional shopping centers. The Taubman Realty Group Limited Partnership (TRG) is a partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.
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