Rafferty Asset Management LLC trimmed its holdings in Taubman Centers, Inc. (NYSE:TCO) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,743 shares of the real estate investment trust’s stock after selling 1,861 shares during the period. Rafferty Asset Management LLC’s holdings in Taubman Centers were worth $521,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Prudential Financial Inc. lifted its position in shares of Taubman Centers by 8.0% in the second quarter. Prudential Financial Inc. now owns 1,262,304 shares of the real estate investment trust’s stock valued at $75,170,000 after buying an additional 94,011 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Taubman Centers by 50.0% in the second quarter. Canada Pension Plan Investment Board now owns 10,500 shares of the real estate investment trust’s stock valued at $625,000 after buying an additional 3,500 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Taubman Centers by 9.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 530,880 shares of the real estate investment trust’s stock valued at $35,049,000 after buying an additional 43,795 shares during the last quarter. Madison International Realty Holdings LLC lifted its position in shares of Taubman Centers by 12.5% in the first quarter. Madison International Realty Holdings LLC now owns 1,449,837 shares of the real estate investment trust’s stock valued at $95,718,000 after buying an additional 161,200 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Taubman Centers by 184.1% in the second quarter. Bank of Montreal Can now owns 254,238 shares of the real estate investment trust’s stock valued at $15,140,000 after buying an additional 164,759 shares during the last quarter. 98.53% of the stock is owned by institutional investors.

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Shares of Taubman Centers, Inc. (NYSE TCO) opened at 50.19 on Thursday. Taubman Centers, Inc. has a 12-month low of $49.07 and a 12-month high of $78.65. The firm has a market capitalization of $3.05 billion, a PE ratio of 38.79 and a beta of 0.50. The company’s 50-day moving average price is $53.35 and its 200 day moving average price is $59.84.

Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. Taubman Centers had a negative return on equity of 110.46% and a net margin of 14.71%. The business had revenue of $154.68 million for the quarter, compared to the consensus estimate of $142.16 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. Taubman Centers’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts forecast that Taubman Centers, Inc. will post $1.08 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.50 annualized dividend and a yield of 5.00%. Taubman Centers’s payout ratio is 193.80%.

A number of analysts have recently issued reports on the company. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a research report on Monday, July 31st. BidaskClub cut Taubman Centers from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. KeyCorp cut their price objective on Taubman Centers from $85.00 to $79.00 and set an “overweight” rating for the company in a research report on Wednesday, June 28th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Taubman Centers in a research report on Tuesday. Finally, Zacks Investment Research cut Taubman Centers from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Taubman Centers presently has a consensus rating of “Hold” and a consensus target price of $67.14.

In other news, Director Myron E. Ullman III acquired 12,325 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were acquired at an average price of $56.90 per share, for a total transaction of $701,292.50. Following the completion of the purchase, the director now owns 16,646 shares in the company, valued at $947,157.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 31.20% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Taubman Centers (NYSE:TCO)

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