Taubman Centers, Inc. (TCO) Given Consensus Recommendation of “Hold” by Brokerages

Taubman Centers, Inc. (NYSE:TCO) has been given a consensus recommendation of “Hold” by the fourteen research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $71.40.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a report on Monday, July 31st. BidaskClub downgraded Taubman Centers from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. BMO Capital Markets assumed coverage on Taubman Centers in a report on Monday, September 11th. They set an “underperform” rating for the company. Finally, Morgan Stanley downgraded Taubman Centers from an “equal weight” rating to an “underweight” rating in a report on Monday, September 18th.

Taubman Centers (NYSE TCO) opened at $55.31 on Monday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of -21.77. The stock has a market cap of $3,358.02, a P/E ratio of 15.28, a PEG ratio of 4.52 and a beta of 0.52. Taubman Centers has a 1 year low of $44.78 and a 1 year high of $76.79.

Taubman Centers (NYSE:TCO) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.06). The business had revenue of $153.20 million for the quarter, compared to analysts’ expectations of $155.95 million. Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $0.94 earnings per share. research analysts predict that Taubman Centers will post 3.72 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in TCO. Coronation Fund Managers Ltd. purchased a new position in shares of Taubman Centers in the second quarter valued at $14,422,000. Land & Buildings Investment Management LLC increased its position 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 valued at $54,813,000 after buying an additional 202,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Taubman Centers by 162.0% in the third quarter. JPMorgan Chase & Co. now owns 274,531 shares of the real estate investment trust’s stock valued at $13,814,000 after buying an additional 169,730 shares in the last quarter. Sapience Investments LLC increased its position in shares of Taubman Centers by 2,828.6% in the second quarter. Sapience Investments LLC now owns 159,610 shares of the real estate investment trust’s stock valued at $9,505,000 after buying an additional 154,160 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Taubman Centers by 21.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 739,620 shares of the real estate investment trust’s stock valued at $36,760,000 after buying an additional 131,387 shares in the last quarter.

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.

Analyst Recommendations for Taubman Centers (NYSE:TCO)

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