Ameritas Investment Partners Inc. Increases Position in Taubman Centers, Inc. (TCO)
Ameritas Investment Partners Inc. lifted its holdings in Taubman Centers, Inc. (NYSE:TCO) by 1.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,162 shares of the real estate investment trust’s stock after purchasing an additional 323 shares during the period. Ameritas Investment Partners Inc.’s holdings in Taubman Centers were worth $1,082,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. World Asset Management Inc grew its holdings in shares of Taubman Centers by 1.4% in the second quarter. World Asset Management Inc now owns 4,917 shares of the real estate investment trust’s stock valued at $293,000 after purchasing an additional 69 shares in the last quarter. State of Wisconsin Investment Board lifted its stake in Taubman Centers by 0.7% in the second quarter. State of Wisconsin Investment Board now owns 11,748 shares of the real estate investment trust’s stock worth $700,000 after acquiring an additional 80 shares during the last quarter. Utah Retirement Systems lifted its stake in Taubman Centers by 0.7% in the second quarter. Utah Retirement Systems now owns 15,104 shares of the real estate investment trust’s stock worth $900,000 after acquiring an additional 101 shares during the last quarter. Stifel Financial Corp lifted its stake in Taubman Centers by 1.7% in the first quarter. Stifel Financial Corp now owns 7,174 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 120 shares during the last quarter. Finally, Comerica Bank lifted its stake in Taubman Centers by 0.3% in the second quarter. Comerica Bank now owns 50,343 shares of the real estate investment trust’s stock worth $3,049,000 after acquiring an additional 146 shares during the last quarter.
Taubman Centers, Inc. (NYSE TCO) opened at 49.89 on Thursday. Taubman Centers, Inc. has a 1-year low of $48.77 and a 1-year high of $77.03. The stock’s 50 day moving average is $51.01 and its 200-day moving average is $57.57. The firm has a market capitalization of $3.03 billion, a PE ratio of 38.55 and a beta of 0.50.
Taubman Centers (NYSE:TCO) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $154.68 million for the quarter, compared to analyst estimates of $142.16 million. Taubman Centers had a negative return on equity of 110.46% and a net margin of 14.71%. Taubman Centers’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 earnings per share. Equities research analysts forecast that Taubman Centers, Inc. will post $1.08 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend was Thursday, September 14th. Taubman Centers’s payout ratio is currently 193.80%.
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TCO has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Morgan Stanley downgraded shares of Taubman Centers from an “equal weight” rating to an “underweight” rating in a research report on Monday, September 18th. BidaskClub downgraded shares of Taubman Centers from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. KeyCorp reduced their price objective on shares of Taubman Centers from $85.00 to $79.00 and set an “overweight” rating for the company in a research report on Wednesday, June 28th. Finally, BMO Capital Markets initiated coverage on shares of Taubman Centers in a research report on Monday, September 11th. They set an “underperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $67.14.
In other news, Director Myron E. Ullman III bought 12,325 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average cost of $56.90 per share, with a total value of $701,292.50. Following the completion of the acquisition, the director now directly owns 16,646 shares in the company, valued at $947,157.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.20% of the stock is owned by insiders.
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 (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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