Analysts Set Taubman Centers Inc. (NYSE:TCO) Price Target at $83.40
Shares of Taubman Centers Inc. (NYSE:TCO) have been given a consensus recommendation of “Buy” by the sixteen brokerages that are currently covering the firm. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $83.73.
A number of brokerages have weighed in on TCO. Morgan Stanley set a $81.00 price target on shares of Taubman Centers and gave the company a “buy” rating in a report on Thursday, August 11th. Mizuho reissued a “buy” rating and issued a $89.00 price target on shares of Taubman Centers in a report on Thursday, September 1st. Zacks Investment Research raised shares of Taubman Centers from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Monday, July 18th. Goldman Sachs Group Inc. raised shares of Taubman Centers from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $79.00 to $87.00 in a report on Wednesday. Finally, Jefferies Group raised their price objective on shares of Taubman Centers from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, August 31st.
Taubman Centers (NYSE:TCO) opened at 76.09 on Monday. The firm has a 50-day moving average of $77.09 and a 200 day moving average of $73.44. The company has a market cap of $4.60 billion, a PE ratio of 40.05 and a beta of 0.91. Taubman Centers has a 52-week low of $63.32 and a 52-week high of $81.68.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Taubman Centers had a net margin of 21.45% and a return on equity of 173.60%. The firm earned $158.90 million during the quarter, compared to the consensus estimate of $147.45 million. During the same period in the prior year, the firm earned $0.76 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Equities research analysts expect that Taubman Centers will post $3.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a $0.595 dividend. This represents a $2.38 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, September 13th. Taubman Centers’s payout ratio is presently 126.60%.
A number of large investors have recently bought and sold shares of the stock. Americafirst Capital Management LLC bought a new stake in Taubman Centers during the second quarter valued at $103,000. Checchi Capital Advisers LLC boosted its stake in Taubman Centers by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 1,756 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 18 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Taubman Centers by 4.8% in the second quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 100 shares during the last quarter. Oakbrook Investments LLC bought a new stake in Taubman Centers during the second quarter valued at $217,000. Finally, BlackRock Japan Co. Ltd boosted its stake in Taubman Centers by 0.7% in the first quarter. BlackRock Japan Co. Ltd now owns 3,180 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.
Taubman Centers Company Profile
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 (TRG) is a partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.
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