Shares of Taubman Centers, Inc. (NYSE:TCO) have been given an average rating of “Hold” by the ten brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $42.00.
Several equities analysts have recently issued reports on TCO shares. Piper Sandler downgraded Taubman Centers from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $52.50 to $20.00 in a research report on Wednesday, June 10th. ValuEngine upgraded Taubman Centers from a “sell” rating to a “hold” rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. cut their price objective on Taubman Centers from $52.50 to $37.00 and set a “neutral” rating for the company in a report on Thursday, June 18th. Deutsche Bank lowered their target price on Taubman Centers from $36.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, June 18th. Finally, Compass Point began coverage on shares of Taubman Centers in a research report on Thursday, June 4th. They issued a “neutral” rating and a $42.00 price target on the stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Taubman Centers by 108.7% in the 1st quarter. Van ECK Associates Corp now owns 718 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 374 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Taubman Centers by 3.0% in the second quarter. Ameritas Investment Partners Inc. now owns 17,823 shares of the real estate investment trust’s stock worth $673,000 after buying an additional 522 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Taubman Centers by 4.1% in the second quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the real estate investment trust’s stock worth $582,000 after acquiring an additional 600 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Taubman Centers by 1.2% in the second quarter. Mutual of America Capital Management LLC now owns 57,640 shares of the real estate investment trust’s stock worth $2,176,000 after acquiring an additional 669 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Taubman Centers during the first quarter valued at approximately $37,000.
Shares of NYSE TCO opened at $35.71 on Thursday. The stock has a 50 day simple moving average of $37.88 and a 200-day simple moving average of $41.03. The company has a market cap of $2.20 billion, a PE ratio of 13.18 and a beta of -0.14. Taubman Centers has a 12-month low of $26.24 and a 12-month high of $53.40.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Monday, August 10th. The real estate investment trust reported ($0.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($1.19). The business had revenue of $118.54 million for the quarter, compared to analyst estimates of $151.64 million. Taubman Centers had a negative return on equity of 94.88% and a net margin of 30.09%. The business’s quarterly revenue was down 26.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. As a group, equities research analysts forecast that Taubman Centers will post 2.81 earnings per share 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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