ValuEngine Lowers Taubman Centers (NYSE:TCO) to Strong Sell

Taubman Centers (NYSE:TCO) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Saturday, June 22nd, ValuEngine reports.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Deutsche Bank set a $60.00 price target on Taubman Centers and gave the company a “hold” rating in a research report on Tuesday, June 11th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of in a research report on Thursday, June 20th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $57.18.

Shares of NYSE TCO traded down $0.30 during midday trading on Friday, hitting $40.90. 272,122 shares of the company’s stock were exchanged, compared to its average volume of 519,194. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 2.78 and a beta of 0.72. The business has a 50 day moving average of $42.96. Taubman Centers has a 12 month low of $39.39 and a 12 month high of $65.50.

Taubman Centers (NYSE:TCO) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.65). The firm had revenue of $160.28 million for the quarter, compared to analyst estimates of $161.24 million. Taubman Centers had a negative return on equity of 24.45% and a net margin of 11.23%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $1.04 earnings per share. On average, research analysts forecast that Taubman Centers will post 3.68 earnings per share for the current fiscal year.

In other Taubman Centers news, Director Mayree C. Clark purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average cost of $51.94 per share, with a total value of $155,820.00. Following the completion of the transaction, the director now owns 6,478 shares of the company’s stock, valued at approximately $336,467.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 31.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Duff & Phelps Investment Management Co. grew its holdings in Taubman Centers by 4,092.7% during the first quarter. Duff & Phelps Investment Management Co. now owns 473,776 shares of the real estate investment trust’s stock valued at $25,053,000 after purchasing an additional 462,476 shares during the period. Vanguard Group Inc boosted its holdings in shares of 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 worth $534,334,000 after acquiring an additional 63,557 shares during the period. RB Capital Management LLC bought a new position in shares of Taubman Centers in the first quarter worth $213,000. Malaga Cove Capital LLC boosted its holdings in shares of Taubman Centers by 1.4% in the first quarter. Malaga Cove Capital LLC now owns 32,797 shares of the real estate investment trust’s stock worth $1,734,000 after acquiring an additional 445 shares during the period. Finally, American International Group Inc. boosted its holdings in shares of Taubman Centers by 0.4% in the fourth quarter. American International Group Inc. now owns 124,793 shares of the real estate investment trust’s stock worth $5,677,000 after acquiring an additional 480 shares during the period. 99.50% of the stock is owned by institutional investors and hedge funds.

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 and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.

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Analyst Recommendations for Taubman Centers (NYSE:TCO)

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