Taubman Centers, Inc. (TCO) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its position in shares of Taubman Centers, Inc. (NYSE:TCO) by 7.2% in the third quarter, HoldingsChannel.com reports. The fund owned 63,694 shares of the real estate investment trust’s stock after selling 4,972 shares during the period. Wells Fargo & Company MN’s holdings in Taubman Centers were worth $3,166,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Taubman Centers by 1.3% during the 2nd quarter. BlackRock Inc. now owns 6,495,611 shares of the real estate investment trust’s stock valued at $386,814,000 after acquiring an additional 82,291 shares during the period. State Street Corp boosted its holdings in Taubman Centers by 0.5% during the 2nd quarter. State Street Corp now owns 2,665,010 shares of the real estate investment trust’s stock valued at $158,705,000 after acquiring an additional 13,584 shares during the period. Citigroup Inc. boosted its holdings in Taubman Centers by 2.1% during the 2nd quarter. Citigroup Inc. now owns 2,147,396 shares of the real estate investment trust’s stock valued at $127,878,000 after acquiring an additional 44,342 shares during the period. Land & Buildings Investment Management LLC boosted its holdings in Taubman Centers by 14.5% during the 3rd 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 period. Finally, Dimensional Fund Advisors LP boosted its holdings in Taubman Centers by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 895,612 shares of the real estate investment trust’s stock valued at $53,335,000 after acquiring an additional 29,320 shares during the period.

Shares of Taubman Centers, Inc. (NYSE:TCO) opened at $61.34 on Thursday. 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, Inc. has a 12-month low of $44.78 and a 12-month high of $73.88. The stock has a market capitalization of $3,720.00, a PE ratio of 57.87, a price-to-earnings-growth ratio of 5.02 and a beta of 0.61.

Taubman Centers (NYSE:TCO) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.06). Taubman Centers had a return on equity of 66.09% and a net margin of 0.34%. The business had revenue of $153.20 million for the quarter, compared to analyst estimates of $155.95 million. During the same period last year, the business posted $0.94 EPS. Taubman Centers’s revenue was up 3.5% on a year-over-year basis. equities research analysts expect that Taubman Centers, Inc. will post 3.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, December 14th. Taubman Centers’s dividend payout ratio (DPR) is presently 235.85%.

In other Taubman Centers news, Director Cornelia Connelly Marakovits bought 4,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average price of $63.35 per share, with a total value of $253,400.00. Following the transaction, the director now owns 7,403 shares of the company’s stock, valued at $468,980.05. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert S. Taubman sold 58,000 shares of the firm’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 sale, the chief executive officer now directly owns 16,953 shares in the company, valued at approximately $1,062,614.04. The disclosure for this sale can be found here. Insiders have sold a total of 93,318 shares of company stock worth $5,849,897 in the last three months. Corporate insiders own 31.20% of the company’s stock.

A number of research firms have issued reports on TCO. Morgan Stanley lowered Taubman Centers from an “equal weight” rating to an “underweight” rating in a research report on Monday, September 18th. Jefferies Group reaffirmed a “hold” rating and issued a $57.00 price target on shares of Taubman Centers in a research report on Tuesday, September 26th. JPMorgan Chase & Co. lowered Taubman Centers from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $64.00 to $57.00 in a research report on Tuesday, September 26th. Zacks Investment Research lowered Taubman Centers from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $66.50.

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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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