Alpine Woods Capital Investors LLC Has $760,000 Holdings in Taubman Centers, Inc. (NYSE:TCO)

Alpine Woods Capital Investors LLC decreased its stake in Taubman Centers, Inc. (NYSE:TCO) by 19.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,297 shares of the real estate investment trust’s stock after selling 3,809 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Taubman Centers were worth $760,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Land & Buildings Investment Management LLC lifted its stake in shares of Taubman Centers by 28.1% in the second quarter. Land & Buildings Investment Management LLC now owns 920,447 shares of the real estate investment trust’s stock worth $54,813,000 after buying an additional 202,000 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Taubman Centers by 8.0% in the second quarter. Prudential Financial Inc. now owns 1,262,304 shares of the real estate investment trust’s stock worth $75,170,000 after buying an additional 94,011 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Taubman Centers by 50.0% in the second quarter. Canada Pension Plan Investment Board now owns 10,500 shares of the real estate investment trust’s stock worth $625,000 after buying an additional 3,500 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Taubman Centers by 14.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 608,233 shares of the real estate investment trust’s stock worth $36,221,000 after buying an additional 77,353 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Taubman Centers by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 773,257 shares of the real estate investment trust’s stock worth $46,048,000 after buying an additional 11,689 shares in the last quarter.

A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co downgraded shares of Taubman Centers from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $64.00 to $57.00 in a research note on Tuesday, September 26th. Jefferies Group reissued a “hold” rating and issued a $57.00 price target on shares of Taubman Centers in a research note on Tuesday, September 26th. Mizuho restated a “neutral” rating on shares of Taubman Centers in a report on Wednesday, November 8th. Finally, Boenning Scattergood restated a “hold” rating on shares of Taubman Centers in a report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Taubman Centers has a consensus rating of “Hold” and a consensus target price of $67.14.

Shares of Taubman Centers, Inc. (NYSE TCO) traded down $0.51 during trading hours on Thursday, hitting $58.69. 615,158 shares of the stock traded hands, compared to its average volume of 637,170. The stock has a market cap of $3,639.12, a P/E ratio of 16.56, a PEG ratio of 4.84 and a beta of 0.62. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of -21.77. Taubman Centers, Inc. has a twelve month low of $44.78 and a twelve month high of $76.79.

Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.06). Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The company had revenue of $153.20 million for the quarter, compared to analysts’ expectations of $155.95 million. During the same quarter in the prior year, the firm posted $0.94 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. equities research analysts expect that Taubman Centers, Inc. will post 3.71 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.50 dividend on an annualized basis and a yield of 4.26%. Taubman Centers’s payout ratio is currently 238.10%.

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Taubman Centers Profile

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 (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.

Institutional Ownership by Quarter for Taubman Centers (NYSE:TCO)

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