BMO Capital Markets Reiterates “Hold” Rating for Taubman Centers (TCO)

Taubman Centers (NYSE:TCO)‘s stock had its “hold” rating reissued by BMO Capital Markets in a research report issued to clients and investors on Monday. They currently have a $62.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ target price suggests a potential upside of 8.00% from the company’s previous close.

Several other brokerages have also recently weighed in on TCO. Zacks Investment Research upgraded Taubman Centers from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Jefferies Financial Group restated a “hold” rating and set a $63.00 target price on shares of Taubman Centers in a report on Wednesday, September 5th. Citigroup boosted their target price on Taubman Centers from $61.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Evercore ISI cut Taubman Centers from an “in-line” rating to an “underperform” rating and set a $63.00 target price on the stock. in a report on Monday, September 10th. They noted that the move was a valuation call. Finally, Bank of America boosted their target price on Taubman Centers from $60.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, August 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $62.31.

Shares of Taubman Centers stock opened at $57.41 on Monday. The company has a market cap of $3.30 billion, a PE ratio of 15.52, a P/E/G ratio of 3.71 and a beta of 0.54. Taubman Centers has a 1-year low of $44.78 and a 1-year high of $66.61.

Taubman Centers (NYSE:TCO) last issued its earnings results on Monday, October 29th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.52). The company had revenue of $159.12 million for the quarter, compared to analyst estimates of $159.68 million. Taubman Centers had a negative return on equity of 41.96% and a net margin of 11.95%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Research analysts predict that Taubman Centers will post 3.8 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. World Asset Management Inc purchased a new stake in shares of Taubman Centers during the 2nd quarter valued at approximately $210,000. Fox Run Management L.L.C. purchased a new stake in shares of Taubman Centers during the 2nd quarter valued at approximately $215,000. Oakbrook Investments LLC purchased a new stake in shares of Taubman Centers during the 3rd quarter valued at approximately $243,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Taubman Centers during the 1st quarter valued at approximately $261,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Taubman Centers during the 2nd quarter valued at approximately $409,000.

About Taubman Centers

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.

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