Taubman Centers, Inc. (TCO) Stake Increased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Taubman Centers, Inc. (NYSE:TCO) by 10.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,340 shares of the real estate investment trust’s stock after buying an additional 1,300 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Taubman Centers were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Creative Planning grew 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 buying an additional 206 shares in the last quarter. Riverhead Capital Management LLC grew its position in shares of Taubman Centers by 83.2% during the second quarter. Riverhead Capital Management LLC now owns 4,397 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 1,997 shares in the last quarter. LS Investment Advisors LLC grew 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 buying an additional 692 shares in the last quarter. World Asset Management Inc grew its position in shares of Taubman Centers by 1.4% during the second quarter. World Asset Management Inc now owns 4,917 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 69 shares in the last quarter. Finally, GAM Holding AG grew its position in shares of Taubman Centers by 3.3% during the second quarter. GAM Holding AG now owns 5,154 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 166 shares in the last quarter.

Shares of Taubman Centers, Inc. (TCO) opened at 50.69 on Friday. The firm has a market cap of $3.08 billion, a P/E ratio of 39.17 and a beta of 0.50. Taubman Centers, Inc. has a 52-week low of $48.77 and a 52-week high of $78.65. The stock’s 50 day moving average is $51.22 and its 200-day moving average is $58.04.

Taubman Centers (NYSE:TCO) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $154.68 million during the quarter, compared to analyst estimates of $142.16 million. Taubman Centers had a negative return on equity of 110.46% and a net margin of 14.71%. Taubman Centers’s revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 earnings per share. Equities analysts anticipate that Taubman Centers, Inc. will post $1.08 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.625 dividend. The ex-dividend date was Thursday, September 14th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.93%. Taubman Centers’s payout ratio is 193.80%.

In other news, Director Myron E. Ullman III bought 12,325 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average cost of $56.90 per share, for a total transaction of $701,292.50. Following the completion of the purchase, the director now owns 16,646 shares of the company’s stock, valued at approximately $947,157.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 31.20% of the company’s stock.

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A number of analysts have recently weighed in on TCO shares. KeyCorp decreased their price target on shares of Taubman Centers from $85.00 to $79.00 and set an “overweight” rating for the company in a research report on Wednesday, June 28th. BidaskClub raised shares of Taubman Centers from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a research report on Monday, July 31st. Finally, BMO Capital Markets started coverage on shares of Taubman Centers in a research report on Monday, September 11th. They set an “underperform” rating for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $67.14.

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

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