Taubman Centers (TCO) Upgraded to Market Perform by BMO Capital Markets

Taubman Centers (NYSE:TCO) was upgraded by investment analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also issued reports on TCO. J P Morgan Chase & Co lowered Taubman Centers from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $64.00 to $57.00 in a research note on Tuesday, September 26th. Jefferies Group reaffirmed a “hold” rating and issued a $57.00 target price on shares of Taubman Centers in a research note on Tuesday, September 26th. Zacks Investment Research lowered Taubman Centers from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Mizuho reiterated a “neutral” rating on shares of Taubman Centers in a report on Wednesday, November 8th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $67.14.

Shares of Taubman Centers (TCO) opened at $62.59 on Wednesday. The company has a market capitalization of $3,566.87, a P/E ratio of 16.23, a PEG ratio of 4.74 and a beta of 0.62. The company has a debt-to-equity ratio of -21.77, a quick ratio of 0.35 and a current ratio of 0.35. Taubman Centers has a 52 week low of $44.78 and a 52 week high of $76.79.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.06). Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The firm had revenue of $153.20 million for the quarter, compared to analysts’ expectations of $155.95 million. During the same period last year, the firm earned $0.94 EPS. Taubman Centers’s revenue was up 3.5% compared to the same quarter last year. research analysts expect that Taubman Centers will post 3.71 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Virtu KCG Holdings LLC acquired a new stake in shares of Taubman Centers during the 2nd quarter worth $227,000. Riverhead Capital Management LLC increased its holdings in shares of Taubman Centers by 83.2% during the 2nd 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 during the last quarter. Shelton Capital Management purchased a new stake in Taubman Centers during the 2nd quarter worth $269,000. World Asset Management Inc boosted its position in Taubman Centers by 1.4% during the 2nd quarter. World Asset Management Inc now owns 4,917 shares of the real estate investment trust’s stock worth $293,000 after purchasing an additional 69 shares during the period. Finally, GAM Holding AG boosted its position in Taubman Centers by 3.3% during the 2nd quarter. GAM Holding AG now owns 5,154 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 166 shares during the period.

TRADEMARK VIOLATION NOTICE: This piece was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece can be read at https://sportsperspectives.com/2017/12/13/taubman-centers-tco-upgraded-to-market-perform-by-bmo-capital-markets.html.

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)

Receive News & Ratings for Taubman Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taubman Centers and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply