Taubman Centers (TCO) Downgraded by ValuEngine

ValuEngine downgraded shares of Taubman Centers (NYSE:TCO) from a hold rating to a sell rating in a research note released on Friday.

A number of other equities analysts also recently issued reports on TCO. BMO Capital Markets set a $62.00 price target on shares of Taubman Centers and gave the stock a hold rating in a research note on Monday, July 30th. Citigroup increased their price target on shares of Taubman Centers from $61.00 to $66.00 and gave the stock a neutral rating in a research note on Thursday, August 9th. Zacks Investment Research downgraded shares of Taubman Centers from a hold rating to a sell rating in a research note on Monday, August 13th. Bank of America increased their price target on shares of Taubman Centers from $60.00 to $66.00 and gave the stock a neutral rating in a research note on Monday, August 13th. Finally, Jefferies Financial Group reissued a hold rating and issued a $63.00 price target on shares of Taubman Centers in a research note on Wednesday, September 5th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $62.31.

TCO stock opened at $53.36 on Friday. Taubman Centers has a 1 year low of $44.78 and a 1 year high of $66.61. The stock has a market capitalization of $3.26 billion, a P/E ratio of 14.42, a P/E/G ratio of 3.66 and a beta of 0.64.

Taubman Centers (NYSE:TCO) last released its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.52). Taubman Centers had a negative return on equity of 45.76% and a net margin of 14.42%. The company had revenue of $159.12 million during the quarter, compared to the consensus estimate of $159.68 million. During the same period in the previous year, the company earned $0.83 earnings per share. Taubman Centers’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts anticipate that Taubman Centers will post 3.8 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in TCO. World Asset Management Inc purchased a new stake in Taubman Centers in the second quarter worth about $210,000. Fox Run Management L.L.C. purchased a new stake in Taubman Centers in the second quarter worth about $215,000. Klingenstein Fields & Co. LLC purchased a new stake in Taubman Centers in the third quarter worth about $216,000. Oakbrook Investments LLC purchased a new stake in Taubman Centers in the third quarter worth about $243,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Taubman Centers in the first quarter worth about $261,000.

Taubman Centers Company Profile

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.

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Analyst Recommendations for Taubman Centers (NYSE:TCO)

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