Shares of Taubman Centers, Inc. (NYSE:TCO) have earned an average rating of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $62.31.
TCO has been the subject of several research reports. Scotiabank initiated coverage on Taubman Centers in a research note on Tuesday, October 16th. They set an “underperform” rating for the company. Sandler O’Neill upgraded Taubman Centers from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $64.00 in a research note on Monday, October 22nd. ValuEngine upgraded Taubman Centers from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. BMO Capital Markets set a $62.00 price objective on Taubman Centers and gave the stock a “hold” rating in a research note on Monday, July 30th. Finally, Zacks Investment Research lowered Taubman Centers from a “hold” rating to a “sell” rating in a research report on Monday, August 13th.
NYSE:TCO traded up $0.09 during trading hours on Monday, hitting $55.28. 9,419 shares of the stock were exchanged, compared to its average volume of 679,540. Taubman Centers has a 52-week low of $46.73 and a 52-week high of $66.61. The firm has a market cap of $3.35 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 3.76 and a beta of 0.64.
In related news, Director Jonathan Litt purchased 1,000 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was acquired at an average cost of $54.32 per share, for a total transaction of $54,320.00. Following the completion of the transaction, the director now directly owns 3,653 shares of the company’s stock, valued at $198,430.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 31.20% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Commonwealth Bank of Australia purchased a new stake in shares of Taubman Centers in the third quarter valued at approximately $179,000. World Asset Management Inc purchased a new position in Taubman Centers in the second quarter worth approximately $210,000. Klingenstein Fields & Co. LLC purchased a new position in Taubman Centers in the third quarter worth approximately $216,000. Fox Run Management L.L.C. purchased a new position in Taubman Centers in the second quarter worth approximately $215,000. Finally, Oakbrook Investments LLC purchased a new position in Taubman Centers in the third quarter worth approximately $243,000.
Taubman Centers Company Profile
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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