KBC Group NV lowered its stake in shares of Taubman Centers, Inc. (NYSE:TCO) by 88.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,387 shares of the real estate investment trust’s stock after selling 27,030 shares during the period. KBC Group NV’s holdings in Taubman Centers were worth $202,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Creative Planning lifted its position in shares of Taubman Centers by 8.0% during the second quarter. Creative Planning now owns 2,790 shares of the real estate investment trust’s stock worth $166,000 after acquiring an additional 206 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Taubman Centers by 37.1% during the first quarter. Daiwa Securities Group Inc. now owns 4,800 shares of the real estate investment trust’s stock worth $317,000 after acquiring an additional 1,300 shares in the last quarter. LS Investment Advisors LLC lifted its position in shares of Taubman Centers by 16.8% during the second quarter. LS Investment Advisors LLC now owns 4,805 shares of the real estate investment trust’s stock worth $286,000 after acquiring an additional 692 shares in the last quarter. World Asset Management Inc lifted its position in shares of Taubman Centers by 7.3% during the first quarter. World Asset Management Inc now owns 4,848 shares of the real estate investment trust’s stock worth $320,000 after acquiring an additional 328 shares in the last quarter. Finally, Clinton Group Inc. purchased a new stake in shares of Taubman Centers during the first quarter worth $342,000. Hedge funds and other institutional investors own 98.53% of the company’s stock.
In other news, Director Myron E. Ullman III bought 12,325 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were bought at an average price of $56.90 per share, for a total transaction of $701,292.50. Following the purchase, the director now owns 16,646 shares in the company, valued at $947,157.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 31.20% of the stock is currently owned by insiders.
A number of equities research analysts recently issued reports on TCO shares. Zacks Investment Research upgraded Taubman Centers from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. BidaskClub downgraded Taubman Centers from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a research report on Monday, July 31st. KeyCorp lowered their price objective on Taubman Centers from $85.00 to $79.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 28th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $56.00 price objective (down previously from $71.00) on shares of Taubman Centers in a research report on Saturday, June 3rd. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $71.00.
Shares of Taubman Centers, Inc. (NYSE:TCO) opened at 52.40 on Monday. The company has a 50 day moving average price of $54.98 and a 200-day moving average price of $60.85. Taubman Centers, Inc. has a 12 month low of $50.72 and a 12 month high of $78.65. The stock has a market cap of $3.18 billion, a P/E ratio of 40.49 and a beta of 0.50.
Taubman Centers (NYSE:TCO) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. Taubman Centers had a net margin of 14.71% and a negative return on equity of 110.46%. The company had revenue of $154.68 million for the quarter, compared to analysts’ expectations of $142.16 million. During the same quarter in the previous year, the company earned $1.04 EPS. Taubman Centers’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities research analysts predict that Taubman Centers, Inc. will post $1.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date is Thursday, September 14th. Taubman Centers’s dividend payout ratio (DPR) is 193.80%.
COPYRIGHT VIOLATION NOTICE: This piece was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://sportsperspectives.com/2017/09/11/kbc-group-nv-sells-27030-shares-of-taubman-centers-inc-tco.html.
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.
Want to see what other hedge funds are holding TCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Taubman Centers, Inc. (NYSE:TCO).
Receive News & Ratings for Taubman Centers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taubman Centers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.