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.
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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