Stock Traders Purchase Large Volume of Call Options on Taubman Centers (TCO)

Taubman Centers, Inc. (NYSE:TCO) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 2,523 call options on the company. This is an increase of approximately Infinity compared to the typical volume of 0 call options.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. World Asset Management Inc lifted its position in Taubman Centers by 1.4% in the 2nd quarter. World Asset Management Inc now owns 4,917 shares of the real estate investment trust’s stock valued at $293,000 after acquiring an additional 69 shares in the last quarter. State of Wisconsin Investment Board lifted its position in Taubman Centers by 0.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 11,748 shares of the real estate investment trust’s stock valued at $700,000 after acquiring an additional 80 shares in the last quarter. Utah Retirement Systems lifted its position in Taubman Centers by 0.7% in the 2nd quarter. Utah Retirement Systems now owns 15,104 shares of the real estate investment trust’s stock valued at $900,000 after acquiring an additional 101 shares in the last quarter. Comerica Bank lifted its position in Taubman Centers by 0.3% in the 2nd quarter. Comerica Bank now owns 50,343 shares of the real estate investment trust’s stock valued at $3,049,000 after acquiring an additional 146 shares in the last quarter. Finally, GAM Holding AG lifted its position in Taubman Centers by 3.3% in the 2nd quarter. GAM Holding AG now owns 5,154 shares of the real estate investment trust’s stock valued at $307,000 after acquiring an additional 166 shares in the last quarter.

A number of research firms have commented on TCO. Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a report on Friday, November 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $57.00 target price on shares of Taubman Centers in a report on Tuesday, September 26th. Mizuho reaffirmed a “neutral” rating on shares of Taubman Centers in a report on Wednesday, November 8th. Finally, BidaskClub raised shares of Taubman Centers from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Taubman Centers presently has an average rating of “Hold” and a consensus target price of $67.14.

Taubman Centers (NYSE TCO) opened at $53.81 on Tuesday. The firm has a market cap of $3,224.45, a price-to-earnings ratio of 14.67, a PEG ratio of 4.29 and a beta of 0.52. Taubman Centers has a 52-week low of $44.78 and a 52-week high of $76.79. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of -21.77.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.06). The firm had revenue of $153.20 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.94 earnings per share. research analysts anticipate that Taubman Centers will post 3.72 EPS for the current year.

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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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