JPMorgan Chase & Co. boosted its position in Taubman Centers, Inc. (NYSE:TCO) by 162.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 274,531 shares of the real estate investment trust’s stock after acquiring an additional 169,730 shares during the quarter. JPMorgan Chase & Co. owned 0.45% of Taubman Centers worth $13,814,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Land & Buildings Investment Management LLC boosted its holdings in Taubman Centers by 14.5% in 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 acquiring an additional 133,100 shares during the last quarter. Prudential Financial Inc. boosted its holdings in 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 acquiring an additional 94,011 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in 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 acquiring an additional 3,500 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Taubman Centers by 14.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 608,233 shares of the real estate investment trust’s stock valued at $36,221,000 after acquiring an additional 77,353 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its holdings in Taubman Centers by 41.7% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 182,413 shares of the real estate investment trust’s stock valued at $9,207,000 after acquiring an additional 53,713 shares during the last quarter.

Taubman Centers, Inc. (NYSE TCO) opened at $64.11 on Thursday. The company has a market capitalization of $3,955.43, a PE ratio of 18.00, a price-to-earnings-growth ratio of 5.26 and a beta of 0.62. Taubman Centers, Inc. has a one year low of $44.78 and a one year high of $76.79. The company has a debt-to-equity ratio of -21.77, a quick ratio of 0.35 and a current ratio of 0.35.

Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.83 EPS 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 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 company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. sell-side analysts expect that Taubman Centers, Inc. will post 3.71 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Thursday, December 14th. Taubman Centers’s dividend payout ratio is presently 238.10%.

In related news, CEO Robert S. Taubman sold 58,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total value of $3,635,440.00. Following the transaction, the chief executive officer now owns 16,953 shares in the company, valued at $1,062,614.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cornelia Connelly Marakovits purchased 4,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average price of $63.35 per share, for a total transaction of $253,400.00. Following the purchase, the director now owns 7,403 shares of the company’s stock, valued at approximately $468,980.05. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 93,318 shares of company stock worth $5,849,897. 31.20% of the stock is currently owned by insiders.

TCO has been the topic of a number of research analyst reports. Morgan Stanley cut Taubman Centers from an “equal weight” rating to an “underweight” rating in a report on Monday, September 18th. Zacks Investment Research cut Taubman Centers from a “hold” rating to a “sell” rating in a report on Monday, October 30th. BMO Capital Markets initiated coverage on Taubman Centers in a report on Monday, September 11th. They issued an “underperform” rating on the stock. Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a report on Friday, November 3rd. Finally, Mizuho reiterated a “neutral” rating on shares of Taubman Centers in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $64.75.

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

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