Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Taubman Centers, Inc. (NYSE:TCO) by 20.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 25,473 shares of the real estate investment trust’s stock after selling 6,640 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Taubman Centers were worth $1,667,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of TCO. PGGM Investments purchased a new stake in shares of Taubman Centers in the 4th quarter valued at about $34,940,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Taubman Centers in the 4th quarter valued at about $28,815,000. JPMorgan Chase & Co. lifted its holdings in shares of Taubman Centers by 162.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 274,531 shares of the real estate investment trust’s stock valued at $13,814,000 after purchasing an additional 169,730 shares during the last quarter. Land & Buildings Investment Management LLC lifted its holdings in shares of Taubman Centers by 14.5% in the 3rd quarter. Land & Buildings Investment Management LLC now owns 1,053,547 shares of the real estate investment trust’s stock valued at $52,361,000 after purchasing an additional 133,100 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Taubman Centers by 21.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 739,620 shares of the real estate investment trust’s stock valued at $36,760,000 after purchasing an additional 131,387 shares during the last quarter.
Several research firms have recently weighed in on TCO. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a report on Monday. Zacks Investment Research downgraded Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. BMO Capital Markets reissued a “hold” rating and issued a $62.00 target price on shares of Taubman Centers in a report on Tuesday, January 9th. Finally, Mizuho reissued a “neutral” rating on shares of Taubman Centers in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $65.00.
In related news, COO William S. Taubman sold 35,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total value of $2,193,800.00. Following the transaction, the chief operating officer now owns 67,633 shares in the company, valued at approximately $4,239,236.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert S. Taubman sold 58,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total value of $3,635,440.00. Following the completion of the transaction, the chief executive officer now owns 16,953 shares in the company, valued at approximately $1,062,614.04. The disclosure for this sale can be found here. Insiders sold a total of 93,318 shares of company stock worth $5,849,897 in the last 90 days. 31.20% of the stock is currently owned by insiders.
Taubman Centers, Inc. (NYSE:TCO) opened at $58.60 on Tuesday. The stock has a market capitalization of $3,535.91, a PE ratio of 16.00, a P/E/G ratio of 4.59 and a beta of 0.52. Taubman Centers, Inc. has a 52-week low of $44.78 and a 52-week high of $70.85. The company has a debt-to-equity ratio of -21.77, a current ratio of 0.35 and a quick ratio of 0.35.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.01. The firm had revenue of $172.18 million for the quarter, compared to analysts’ expectations of $164.26 million. Taubman Centers had a negative return on equity of 60.45% and a net margin of 11.63%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. equities analysts expect that Taubman Centers, Inc. will post 3.8 earnings per share for the current fiscal year.
About Taubman Centers
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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