Shares of Taubman Centers, Inc. (NYSE:TCO) have been given a consensus recommendation of “Hold” by the sixteen brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $59.53.
Several research analysts have issued reports on TCO shares. Mizuho set a $48.00 price objective on Taubman Centers and gave the stock a “hold” rating in a report on Tuesday, February 19th. KeyCorp set a $69.00 price objective on Taubman Centers and gave the stock a “buy” rating in a report on Thursday, December 20th. BMO Capital Markets reaffirmed a “hold” rating and set a $55.00 price objective on shares of Taubman Centers in a report on Thursday, February 14th. Finally, Zacks Investment Research raised Taubman Centers from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th.
A number of hedge funds have recently added to or reduced their stakes in TCO. Cohen & Steers Inc. boosted its stake in shares of Taubman Centers by 434.6% during the 3rd quarter. Cohen & Steers Inc. now owns 4,845,258 shares of the real estate investment trust’s stock worth $289,892,000 after buying an additional 3,938,892 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Taubman Centers by 518.5% in the 4th quarter. Principal Financial Group Inc. now owns 2,194,577 shares of the real estate investment trust’s stock valued at $99,832,000 after acquiring an additional 1,839,759 shares during the period. Norges Bank bought a new position in Taubman Centers in the 4th quarter valued at about $45,118,000. Deutsche Bank AG raised its holdings in Taubman Centers by 363.2% in the 4th quarter. Deutsche Bank AG now owns 623,392 shares of the real estate investment trust’s stock valued at $28,356,000 after acquiring an additional 488,820 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Taubman Centers by 345.8% in the 3rd quarter. Renaissance Technologies LLC now owns 300,000 shares of the real estate investment trust’s stock valued at $17,949,000 after acquiring an additional 232,700 shares during the period.
Taubman Centers (NYSE:TCO) last announced its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.84). Taubman Centers had a negative return on equity of 30.65% and a net margin of 11.84%. The business had revenue of $167.50 million during the quarter, compared to analyst estimates of $168.91 million. During the same period in the previous year, the firm earned $1.03 earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. Sell-side analysts anticipate that Taubman Centers will post 3.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.675 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 5.03%. This is a boost from Taubman Centers’s previous quarterly dividend of $0.66. Taubman Centers’s dividend payout ratio is currently 70.50%.
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.
Featured Article: What is the Dividend Aristocrat Index?
Receive News & Ratings for Taubman Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taubman Centers and related companies with MarketBeat.com's FREE daily email newsletter.