Taubman Centers (TCO) Rating Reiterated by Mizuho

Mizuho restated their hold rating on shares of Taubman Centers (NYSE:TCO) in a report issued on Monday. Mizuho currently has a $55.00 price target on the real estate investment trust’s stock.

TCO has been the topic of several other reports. Morgan Stanley upgraded shares of Taubman Centers from an underweight rating to an equal weight rating and set a $50.85 price objective on the stock in a report on Sunday, December 2nd. Jefferies Financial Group reiterated a hold rating and set a $63.00 price objective on shares of Taubman Centers in a report on Wednesday, September 5th. Evercore ISI lowered shares of Taubman Centers from an in-line rating to an underperform rating and set a $63.00 price objective on the stock. in a report on Monday, September 10th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Taubman Centers from a hold rating to a sell rating in a report on Tuesday, November 20th. Finally, Deutsche Bank set a $66.00 price objective on shares of Taubman Centers and gave the stock a hold rating in a report on Friday, November 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $59.99.

Taubman Centers stock opened at $53.30 on Monday. Taubman Centers has a 12-month low of $49.73 and a 12-month high of $66.61. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 4.93 and a beta of 0.63.

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 Thomson Reuters’ consensus estimate of $0.86 by ($0.52). The firm had revenue of $159.12 million for the quarter, compared to analyst estimates of $159.68 million. Taubman Centers had a negative return on equity of 45.76% and a net margin of 14.42%. Taubman Centers’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.83 earnings per share. Sell-side analysts predict that Taubman Centers will post 3.79 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be issued a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 4.92%. Taubman Centers’s payout ratio is 70.81%.

In other Taubman Centers news, Director Jonathan Litt purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were purchased at an average price of $54.32 per share, for a total transaction of $54,320.00. Following the completion of the acquisition, the director now owns 3,653 shares of the company’s stock, valued at approximately $198,430.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 2,250 shares of company stock worth $122,363 in the last 90 days. 31.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Taubman Centers by 0.7% in the third quarter. Vanguard Group Inc. now owns 8,930,867 shares of the real estate investment trust’s stock valued at $534,334,000 after buying an additional 63,557 shares during the period. BlackRock Inc. raised its holdings in Taubman Centers by 2.0% in the third quarter. BlackRock Inc. now owns 7,078,007 shares of the real estate investment trust’s stock valued at $423,477,000 after buying an additional 141,423 shares during the period. Cohen & Steers Inc. raised its holdings in Taubman Centers by 434.6% in the third quarter. Cohen & Steers Inc. now owns 4,845,258 shares of the real estate investment trust’s stock valued at $289,892,000 after buying an additional 3,938,892 shares during the period. Cbre Clarion Securities LLC raised its holdings in Taubman Centers by 13.3% in the second quarter. Cbre Clarion Securities LLC now owns 3,305,710 shares of the real estate investment trust’s stock valued at $194,244,000 after buying an additional 389,099 shares during the period. Finally, FMR LLC raised its holdings in Taubman Centers by 7.6% in the second quarter. FMR LLC now owns 1,666,623 shares of the real estate investment trust’s stock valued at $97,930,000 after buying an additional 117,876 shares during the period.

About Taubman Centers

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.

See Also: Institutional Investors

Analyst Recommendations for Taubman Centers (NYSE:TCO)

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