Taubman Centers, Inc. (TCO) Shares Gap Up to $53.11
Taubman Centers, Inc. (NYSE:TCO) gapped up prior to trading on Tuesday . The stock had previously closed at $50.08, but opened at $53.11. Taubman Centers shares last traded at $53.81, with a volume of 3029400 shares trading hands.
Several research firms recently weighed in on TCO. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a research report on Friday, November 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $57.00 price target on shares of Taubman Centers in a research report on Tuesday, September 26th. Mizuho reissued a “neutral” rating on shares of Taubman Centers in a research report on Wednesday, November 8th. Finally, BidaskClub raised shares of Taubman Centers from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Taubman Centers has an average rating of “Hold” and a consensus price target of $67.14.
The firm has a market cap of $3,422.37, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 4.61 and a beta of 0.52. The company has a debt-to-equity ratio of -21.77, a current ratio of 0.35 and a quick ratio of 0.35.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.06). The firm had revenue of $153.20 million for the quarter, compared to analyst estimates of $155.95 million. Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. sell-side analysts anticipate that Taubman Centers, Inc. will post 3.72 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Taubman Centers by 1.3% during the second quarter. BlackRock Inc. now owns 6,495,611 shares of the real estate investment trust’s stock worth $386,814,000 after buying an additional 82,291 shares in the last quarter. State Street Corp grew its stake in shares of Taubman Centers by 0.5% during the second quarter. State Street Corp now owns 2,665,010 shares of the real estate investment trust’s stock valued at $158,705,000 after purchasing an additional 13,584 shares during the last quarter. Citigroup Inc. grew its stake in shares of Taubman Centers by 2.1% during the second quarter. Citigroup Inc. now owns 2,147,396 shares of the real estate investment trust’s stock valued at $127,878,000 after purchasing an additional 44,342 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Taubman Centers by 8.0% during 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 purchasing an additional 94,011 shares during the last quarter. Finally, Land & Buildings Investment Management LLC grew its stake in shares of Taubman Centers by 14.5% during the third quarter. Land & Buildings Investment Management LLC now owns 1,053,547 shares of the real estate investment trust’s stock valued at $52,361,000 after purchasing an additional 133,100 shares during the last quarter.
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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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