Daiwa Securities Group Inc. lifted its position in shares of Taubman Centers, Inc. (NYSE:TCO) by 15.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,800 shares of the real estate investment trust’s stock after acquiring an additional 900 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Taubman Centers were worth $445,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of TCO. Parametric Portfolio Associates LLC grew its stake in shares of Taubman Centers by 11.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 67,614 shares of the real estate investment trust’s stock worth $4,026,000 after acquiring an additional 6,700 shares during the period. Virtu KCG Holdings LLC bought a new position in shares of Taubman Centers during the 2nd quarter worth $227,000. Stifel Financial Corp grew its stake in shares of Taubman Centers by 7.0% during the 2nd quarter. Stifel Financial Corp now owns 7,674 shares of the real estate investment trust’s stock worth $457,000 after acquiring an additional 500 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Taubman Centers by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 89,317 shares of the real estate investment trust’s stock worth $5,319,000 after acquiring an additional 1,777 shares during the period. Finally, Aperio Group LLC grew its stake in shares of Taubman Centers by 52.0% during the 3rd quarter. Aperio Group LLC now owns 18,721 shares of the real estate investment trust’s stock worth $930,000 after acquiring an additional 6,401 shares during the period.
In other Taubman Centers news, Director Craig M. Hatkoff sold 1,350 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $58.62, for a total value of $79,137.00. Following the sale, the director now owns 6,013 shares of the company’s stock, valued at approximately $352,482.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO William S. Taubman sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total value of $2,193,800.00. Following the completion of the sale, the chief operating officer now directly owns 67,633 shares in the company, valued at approximately $4,239,236.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,668 shares of company stock valued at $5,929,034. 31.20% of the stock is owned by corporate insiders.
TCO has been the subject of several research reports. Zacks Investment Research downgraded Taubman Centers from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a research note on Friday, November 3rd. Mizuho reiterated a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, November 8th. BMO Capital Markets upgraded Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 target price for the company in a research note on Wednesday, December 13th. Finally, Citigroup raised their target price on Taubman Centers from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. Taubman Centers presently has a consensus rating of “Hold” and an average price target of $64.20.
Taubman Centers, Inc. (TCO) opened at $60.74 on Monday. Taubman Centers, Inc. has a 12 month low of $44.78 and a 12 month high of $70.85. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of -21.77. The company has a market capitalization of $3,687.71, a PE ratio of 67.49, a price-to-earnings-growth ratio of 3.58 and a beta of 0.52.
Taubman Centers (NYSE:TCO) last issued its earnings results on Thursday, February 8th. The real estate investment trust reported $1.03 EPS for the quarter, topping the consensus estimate of $1.02 by $0.01. Taubman Centers had a negative return on equity of 60.45% and a net margin of 11.63%. The business had revenue of $172.18 million during the quarter, compared to the consensus estimate of $164.26 million. During the same quarter last year, the company earned $1.01 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. equities analysts expect that Taubman Centers, Inc. will post 3.79 earnings per share for the current year.
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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 (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.
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