Taubman Centers, Inc. (NYSE:TCO) announced a quarterly dividend on Monday, December 4th, RTT News reports. Stockholders of record on Friday, December 15th will be paid a dividend of 0.625 per share by the real estate investment trust on Friday, December 29th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.25%.

Taubman Centers has raised its dividend payment by an average of 6.0% per year over the last three years and has raised its dividend every year for the last 7 years. Taubman Centers has a dividend payout ratio of 67.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Taubman Centers to earn $3.85 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 64.9%.

Shares of Taubman Centers (NYSE:TCO) traded up $0.20 during midday trading on Monday, hitting $58.89. 856,000 shares of the stock were exchanged, compared to its average volume of 634,684. The firm has a market cap of $3,575.37, a P/E ratio of 16.27, a P/E/G ratio of 4.83 and a beta of 0.62. 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 has a fifty-two week low of $44.78 and a fifty-two week high of $76.79.

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 Zacks’ consensus estimate of $0.89 by ($0.06). The company had revenue of $153.20 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. equities research analysts forecast that Taubman Centers will post 3.71 earnings per share for the current fiscal year.

Several brokerages have commented on TCO. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. J P Morgan Chase & Co cut shares of Taubman Centers from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $64.00 to $57.00 in a research report on Tuesday, September 26th. Jefferies Group reaffirmed a “hold” rating and set a $57.00 price objective on shares of Taubman Centers in a research report on Tuesday, September 26th. Mizuho reaffirmed a “neutral” rating on shares of Taubman Centers in a research report on Wednesday, November 8th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a research report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $67.14.

COPYRIGHT VIOLATION WARNING: This news story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2017/12/04/taubman-centers-inc-tco-announces-0-63-quarterly-dividend.html.

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.

Dividend History for Taubman Centers (NYSE:TCO)

Receive News & Stock Ratings for Taubman Centers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taubman Centers Inc. and related stocks with our FREE daily email newsletter.