Teachers Advisors LLC decreased its stake in Taubman Centers, Inc. (NYSE:TCO) by 40.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,844 shares of the real estate investment trust’s stock after selling 42,351 shares during the quarter. Teachers Advisors LLC’s holdings in Taubman Centers were worth $4,112,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in TCO. Tower Research Capital LLC TRC boosted its stake in Taubman Centers by 874.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 2,196 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Taubman Centers in the 4th quarter valued at $171,000. Lourd Capital LLC acquired a new stake in Taubman Centers in the 4th quarter valued at $218,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Taubman Centers in the 4th quarter valued at $225,000. Finally, Alps Advisors Inc. acquired a new stake in Taubman Centers in the 4th quarter valued at $232,000.
TCO has been the topic of several recent analyst reports. BMO Capital Markets raised Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price target on the stock in a research note on Wednesday, December 13th. Zacks Investment Research lowered Taubman Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Citigroup boosted their price target on Taubman Centers from $58.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Sandler O’Neill set a $63.00 price target on Taubman Centers and gave the company a “hold” rating in a research note on Tuesday, February 13th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $63.22.
Shares of TCO opened at $58.13 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of -23.70. Taubman Centers, Inc. has a 52-week low of $44.78 and a 52-week high of $67.19. The firm has a market capitalization of $3,495.59, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 3.41 and a beta of 0.54.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.01. Taubman Centers had a negative return on equity of 57.04% and a net margin of 11.63%. The firm had revenue of $172.18 million during the quarter, compared to the consensus estimate of $164.26 million. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. equities research analysts forecast that Taubman Centers, Inc. will post 3.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 15th were given a $0.655 dividend. This is an increase from Taubman Centers’s previous quarterly dividend of $0.63. The ex-dividend date was Wednesday, March 14th. This represents a $2.62 annualized dividend and a yield of 4.51%. Taubman Centers’s payout ratio is presently 70.81%.
About Taubman Centers
Taubman Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s segment is focused on owning, developing and managing regional shopping centers. The Taubman Realty Group Limited Partnership (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.
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