Taubman Centers, Inc. (NYSE:TCO) Director Michael J. Embler Buys 5,000 Shares

Taubman Centers, Inc. (NYSE:TCO) Director Michael J. Embler purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $39.11 per share, for a total transaction of $195,550.00. Following the completion of the transaction, the director now directly owns 9,301 shares of the company’s stock, valued at $363,762.11. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

TCO stock opened at $40.74 on Friday. Taubman Centers, Inc. has a one year low of $38.56 and a one year high of $65.50. The stock has a market cap of $2.53 billion, a PE ratio of 10.91, a P/E/G ratio of 2.81 and a beta of 0.71. The firm has a 50 day simple moving average of $40.68 and a two-hundred day simple moving average of $47.35.

Taubman Centers (NYSE:TCO) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.10 EPS 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 company had revenue of $161.60 million during the quarter, compared to analysts’ expectations of $162.17 million. During the same period in the prior year, the firm earned $0.92 EPS. Taubman Centers’s quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts forecast that Taubman Centers, Inc. will post 3.67 earnings per share for the current fiscal year.

Several brokerages have commented on TCO. ValuEngine lowered 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 price objective on shares of Taubman Centers and gave the stock a “hold” rating in a research report on Friday, June 28th. Mizuho set a $43.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a research report on Friday, July 26th. Morgan Stanley set a $45.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a research report on Thursday, June 20th. Finally, Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Taubman Centers currently has a consensus rating of “Hold” and an average target price of $55.80.

Several institutional investors have recently made changes to their positions in TCO. Pictet Asset Management Ltd. grew its position in shares of Taubman Centers by 9.7% in the 2nd quarter. Pictet Asset Management Ltd. now owns 11,300 shares of the real estate investment trust’s stock worth $461,000 after buying an additional 1,000 shares during the period. Nuveen Asset Management LLC grew its position in shares of Taubman Centers by 13,569.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 635,234 shares of the real estate investment trust’s stock worth $25,937,000 after buying an additional 630,587 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Taubman Centers by 10.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 103,218 shares of the real estate investment trust’s stock worth $4,214,000 after buying an additional 9,417 shares during the period. UBS Asset Management Americas Inc. grew its position in shares of Taubman Centers by 2.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 315,957 shares of the real estate investment trust’s stock worth $12,901,000 after buying an additional 8,409 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Taubman Centers in the 2nd quarter worth about $1,281,000. 98.88% of the stock is owned by institutional investors.

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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