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.
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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