Wall Street analysts expect that Taubman Centers, Inc. (NYSE:TCO) will announce $147.22 million in sales for the current fiscal quarter, according to Zacks Investment Research. Fourteen analysts have issued estimates for Taubman Centers’ earnings, with estimates ranging from $142.21 million to $154.27 million. Taubman Centers posted sales of $142.67 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.2%. The firm is expected to report its next quarterly earnings results on Monday, November 4th.
According to Zacks, analysts expect that Taubman Centers will report full year sales of $601.51 million for the current fiscal year, with estimates ranging from $584.75 million to $644.05 million. For the next fiscal year, analysts expect that the business will report sales of $619.11 million, with estimates ranging from $592.47 million to $662.72 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Taubman Centers.
Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.73). The firm had revenue of $161.60 million during the quarter, compared to analysts’ expectations of $162.17 million. Taubman Centers had a net margin of 9.68% and a negative return on equity of 20.52%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS.
TCO stock traded up $0.26 during midday trading on Thursday, reaching $37.75. The stock had a trading volume of 467,905 shares, compared to its average volume of 637,904. The company’s fifty day simple moving average is $40.37 and its 200 day simple moving average is $44.80. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72. Taubman Centers has a 52-week low of $36.57 and a 52-week high of $59.39.
The business also recently declared a — dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.675 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 6.7%. Taubman Centers’s dividend payout ratio is presently 70.50%.
In related news, Director Michael J. Embler purchased 5,000 shares of Taubman Centers stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $39.11 per share, for a total transaction of $195,550.00. Following the acquisition, the director now directly owns 9,301 shares in the company, valued at $363,762.11. The purchase was disclosed in a filing with the SEC, which is available through this link. 31.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of TCO. Geode Capital Management LLC raised its holdings in Taubman Centers by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 755,110 shares of the real estate investment trust’s stock valued at $34,349,000 after buying an additional 53,984 shares during the period. California State Teachers Retirement System raised its holdings in Taubman Centers by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 93,725 shares of the real estate investment trust’s stock valued at $4,956,000 after buying an additional 425 shares during the period. BlackRock Inc. raised its holdings in Taubman Centers by 1.0% in the 1st quarter. BlackRock Inc. now owns 7,266,236 shares of the real estate investment trust’s stock valued at $384,237,000 after buying an additional 70,610 shares during the period. PNC Financial Services Group Inc. raised its holdings in Taubman Centers by 0.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 37,232 shares of the real estate investment trust’s stock valued at $1,968,000 after buying an additional 215 shares during the period. Finally, Pictet Asset Management Ltd. raised its holdings in Taubman Centers by 39.2% in the 1st quarter. Pictet Asset Management Ltd. now owns 10,300 shares of the real estate investment trust’s stock valued at $545,000 after buying an additional 2,900 shares during the period. Hedge funds and other institutional investors own 99.60% of the company’s stock.
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.
Read More: Why do companies issue monthly dividends?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Taubman Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taubman Centers and related companies with MarketBeat.com's FREE daily email newsletter.