Taubman Centers, Inc. (NYSE:TCO) – Jefferies Group issued their Q1 2018 earnings per share estimates for Taubman Centers in a research report issued on Tuesday. Jefferies Group analyst O. Okusanya expects that the real estate investment trust will post earnings per share of $0.92 for the quarter. Jefferies Group also issued estimates for Taubman Centers’ Q2 2018 earnings at $0.86 EPS, Q3 2018 earnings at $0.90 EPS, Q4 2018 earnings at $1.08 EPS, FY2018 earnings at $3.77 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $0.95 EPS, Q4 2019 earnings at $1.16 EPS and FY2019 earnings at $3.96 EPS.
A number of other analysts have also commented on TCO. Zacks Investment Research lowered Taubman Centers from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a research report on Friday, November 3rd. Mizuho reaffirmed a “neutral” rating on shares of Taubman Centers in a research report on Wednesday, November 8th. BMO Capital Markets raised Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 target price for the company in a research report on Wednesday, December 13th. Finally, Citigroup boosted their price objective on Taubman Centers from $58.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $64.20.
Shares of Taubman Centers (NYSE TCO) opened at $60.82 on Thursday. Taubman Centers has a 12-month low of $44.78 and a 12-month high of $70.85. The company has a market capitalization of $3,690.00, a PE ratio of 66.84, a P/E/G ratio of 3.49 and a beta of 0.52. The company has a debt-to-equity ratio of -21.77, a current ratio of 0.35 and a quick ratio of 0.35.
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, beating analysts’ consensus estimates 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 analyst estimates of $164.26 million. During the same period in the previous year, the company posted $1.01 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year.
Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in shares of Taubman Centers by 874.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the real estate investment trust’s stock valued at $160,000 after acquiring an additional 2,196 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Taubman Centers in the fourth quarter valued at approximately $171,000. Lourd Capital LLC bought a new position in shares of Taubman Centers in the fourth quarter valued at approximately $218,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Taubman Centers in the fourth quarter valued at approximately $225,000. Finally, Alps Advisors Inc. bought a new position in shares of Taubman Centers in the fourth quarter valued at approximately $232,000.
In other news, Director Craig M. Hatkoff sold 1,350 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $58.62, for a total value of $79,137.00. Following the completion of the transaction, the director now directly owns 6,013 shares of the company’s stock, valued at $352,482.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Cornelia Connelly Marakovits bought 4,000 shares of Taubman Centers stock in a transaction dated Friday, December 15th. The stock was acquired at an average cost of $63.35 per share, with a total value of $253,400.00. Following the completion of the acquisition, the director now owns 7,403 shares of the company’s stock, valued at $468,980.05. The disclosure for this purchase can be found here. Insiders have sold a total of 94,668 shares of company stock valued at $5,929,034 over the last three months. Corporate insiders own 31.20% of the company’s stock.
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Taubman Centers Company 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.
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