Brokerages Set Taubman Centers, Inc. (NYSE:TCO) Target Price at $57.18

Shares of Taubman Centers, Inc. (NYSE:TCO) have been given a consensus rating of “Hold” by the thirteen analysts that are covering the company, reports. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $57.18.

Several research firms have recently weighed in on TCO. Zacks Investment Research cut shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Morgan Stanley reiterated an “overweight” rating on shares of in a report on Thursday, June 20th. ValuEngine raised shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd. Deutsche Bank set a $60.00 price objective on shares of Taubman Centers and gave the stock a “hold” rating in a research report on Tuesday, June 11th. Finally, Citigroup reissued a “buy” rating on shares of Healthequity in a research report on Friday, June 28th.

In other Taubman Centers news, Director Mayree C. Clark acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $51.94 per share, with a total value of $155,820.00. Following the completion of the transaction, the director now directly owns 6,478 shares in the company, valued at approximately $336,467.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 31.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Machina Capital S.A.S. bought a new stake in Taubman Centers during the second quarter worth $25,000. Quadrant Capital Group LLC raised its position in Taubman Centers by 174.6% during the first quarter. Quadrant Capital Group LLC now owns 670 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 426 shares in the last quarter. Nalls Sherbakoff Group LLC bought a new stake in Taubman Centers during the fourth quarter worth $37,000. Marshall Wace North America L.P. bought a new stake in Taubman Centers during the first quarter worth $37,000. Finally, First Hawaiian Bank raised its position in Taubman Centers by 28.4% during the first quarter. First Hawaiian Bank now owns 1,460 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 323 shares in the last quarter. 99.16% of the stock is currently owned by hedge funds and other institutional investors.

NYSE TCO traded down $0.54 during trading on Friday, reaching $39.88. 568,952 shares of the stock traded hands, compared to its average volume of 470,023. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 2.77 and a beta of 0.72. The firm’s 50-day moving average is $42.01. Taubman Centers has a fifty-two week low of $39.32 and a fifty-two week high of $65.50.

Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.65). The firm had revenue of $160.28 million for the quarter, compared to analyst estimates of $161.24 million. Taubman Centers had a net margin of 11.23% and a negative return on equity of 24.45%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. On average, research analysts expect that Taubman Centers will post 3.65 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date was Thursday, June 13th. Taubman Centers’s dividend payout ratio is presently 70.50%.

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 and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.

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Analyst Recommendations for Taubman Centers (NYSE:TCO)

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