Russell Investments Group Ltd. Has $8.98 Million Holdings in Taubman Centers, Inc. (TCO)

Russell Investments Group Ltd. raised its stake in shares of Taubman Centers, Inc. (NYSE:TCO) by 108.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 180,598 shares of the real estate investment trust’s stock after purchasing an additional 93,777 shares during the period. Russell Investments Group Ltd. owned approximately 0.30% of Taubman Centers worth $8,983,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. World Asset Management Inc boosted its stake in Taubman Centers by 1.4% during the 2nd quarter. World Asset Management Inc now owns 4,917 shares of the real estate investment trust’s stock valued at $293,000 after purchasing an additional 69 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in Taubman Centers by 0.7% during the 2nd quarter. State of Wisconsin Investment Board now owns 11,748 shares of the real estate investment trust’s stock valued at $700,000 after purchasing an additional 80 shares during the last quarter. Utah Retirement Systems boosted its stake in Taubman Centers by 0.7% during the 2nd quarter. Utah Retirement Systems now owns 15,104 shares of the real estate investment trust’s stock valued at $900,000 after purchasing an additional 101 shares during the last quarter. Comerica Bank boosted its stake in Taubman Centers by 0.3% during the 2nd quarter. Comerica Bank now owns 50,343 shares of the real estate investment trust’s stock valued at $3,049,000 after purchasing an additional 146 shares during the last quarter. Finally, GAM Holding AG boosted its stake in Taubman Centers by 3.3% during the 2nd quarter. GAM Holding AG now owns 5,154 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 166 shares during the last quarter.

Taubman Centers, Inc. (NYSE TCO) traded down $0.74 during trading hours on Thursday, hitting $59.20. 729,900 shares of the company were exchanged, compared to its average volume of 637,264. The company has a debt-to-equity ratio of -21.77, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market cap of $3,639.12, a PE ratio of 16.56, a PEG ratio of 4.84 and a beta of 0.62. Taubman Centers, Inc. has a 52 week low of $44.78 and a 52 week high of $76.79.

Taubman Centers (NYSE:TCO) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.06). The company had revenue of $153.20 million during the quarter, compared to the consensus estimate of $155.95 million. Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.94 EPS. sell-side analysts anticipate that Taubman Centers, Inc. will post 3.71 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.22%. Taubman Centers’s dividend payout ratio (DPR) is presently 238.10%.

A number of equities analysts have issued reports on TCO shares. Morgan Stanley downgraded Taubman Centers from an “equal weight” rating to an “underweight” rating in a research note on Monday, September 18th. Zacks Investment Research downgraded Taubman Centers from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. BMO Capital Markets began coverage on Taubman Centers in a research note on Monday, September 11th. They set an “underperform” rating for the company. Boenning Scattergood restated a “hold” rating on shares of Taubman Centers in a research note on Friday, November 3rd. Finally, Mizuho restated a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, November 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $67.14.

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Taubman Centers Company Profile

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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