Brokerages Set Taubman Centers, Inc. (TCO) Target Price at $62.31

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.

Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.52). Taubman Centers had a negative return on equity of 45.76% and a net margin of 14.42%. The firm had revenue of $159.12 million for the quarter, compared to analysts’ expectations of $159.68 million. During the same quarter last year, the firm posted $0.83 earnings per share. Taubman Centers’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts anticipate that Taubman Centers will post 3.8 earnings per share for the current year.

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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Analyst Recommendations for Taubman Centers (NYSE:TCO)

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