Malaga Cove Capital LLC Buys 445 Shares of Taubman Centers, Inc. (TCO)

Malaga Cove Capital LLC grew its stake in Taubman Centers, Inc. (NYSE:TCO) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,797 shares of the real estate investment trust’s stock after buying an additional 445 shares during the period. Taubman Centers accounts for about 1.1% of Malaga Cove Capital LLC’s holdings, making the stock its 22nd biggest holding. Malaga Cove Capital LLC owned 0.05% of Taubman Centers worth $1,734,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TCO. Blume Capital Management Inc. acquired a new stake in Taubman Centers during the fourth quarter worth approximately $36,000. Nalls Sherbakoff Group LLC acquired a new stake in Taubman Centers during the fourth quarter worth approximately $37,000. Pearl River Capital LLC acquired a new stake in Taubman Centers during the fourth quarter worth approximately $46,000. First Hawaiian Bank grew its stake in Taubman Centers by 147.2% during the fourth quarter. First Hawaiian Bank now owns 1,137 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 677 shares during the period. Finally, Advisors Asset Management Inc. acquired a new stake in Taubman Centers during the third quarter worth approximately $244,000.

NYSE:TCO traded down $0.56 on Thursday, hitting $53.35. The stock had a trading volume of 67,393 shares, compared to its average volume of 274,624. The firm has a market cap of $3.26 billion, a P/E ratio of 13.93, a PEG ratio of 3.65 and a beta of 0.82. Taubman Centers, Inc. has a 52 week low of $43.44 and a 52 week high of $65.50.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings results on Wednesday, February 13th. The real estate investment trust reported $0.05 earnings per share (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 firm had revenue of $167.50 million during the quarter, compared to the consensus estimate of $168.91 million. During the same quarter in the previous year, the company posted $1.03 EPS. The firm’s revenue was down 2.7% on a year-over-year basis. On average, equities research analysts expect that Taubman Centers, Inc. will post 3.69 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Taubman Centers’s previous quarterly dividend of $0.66. Taubman Centers’s dividend payout ratio (DPR) is currently 70.50%.

TCO has been the subject of several recent analyst reports. KeyCorp set a $69.00 target price on Taubman Centers and gave the stock a “buy” rating in a research note on Thursday, December 20th. BMO Capital Markets reaffirmed a “hold” rating and set a $55.00 target price on shares of Taubman Centers in a research note on Thursday, February 14th. Zacks Investment Research raised Taubman Centers from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Mizuho set a $48.00 target price on Taubman Centers and gave the stock a “hold” rating in a research note on Tuesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $59.53.

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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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Institutional Ownership by Quarter for Taubman Centers (NYSE:TCO)

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