Public Employees Retirement Association of Colorado trimmed its position in shares of Taubman Centers, Inc. (NYSE:TCO) by 7.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,657 shares of the real estate investment trust’s stock after selling 1,057 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Taubman Centers were worth $679,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in TCO. Creative Planning raised its stake in shares of Taubman Centers by 8.0% in the second quarter. Creative Planning now owns 2,790 shares of the real estate investment trust’s stock valued at $166,000 after acquiring an additional 206 shares in the last quarter. Virtu KCG Holdings LLC acquired a new stake in shares of Taubman Centers in the second quarter valued at $227,000. Riverhead Capital Management LLC raised its stake in shares of Taubman Centers by 83.2% in the second quarter. Riverhead Capital Management LLC now owns 4,397 shares of the real estate investment trust’s stock valued at $262,000 after acquiring an additional 1,997 shares in the last quarter. Shelton Capital Management acquired a new stake in shares of Taubman Centers in the second quarter valued at $269,000. Finally, LS Investment Advisors LLC raised its stake in shares of Taubman Centers by 16.8% in the second quarter. LS Investment Advisors LLC now owns 4,805 shares of the real estate investment trust’s stock valued at $286,000 after acquiring an additional 692 shares in the last quarter.
Taubman Centers, Inc. (NYSE TCO) opened at $53.81 on Tuesday. The company has a market capitalization of $3,224.45, a price-to-earnings ratio of 14.67, a P/E/G ratio of 4.29 and a beta of 0.52. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of -21.77. Taubman Centers, Inc. has a twelve month low of $44.78 and a twelve month high of $76.79.
Taubman Centers (NYSE:TCO) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.06). The business had revenue of $153.20 million during the quarter, compared to analysts’ expectations of $155.95 million. Taubman Centers had a net margin of 13.21% and a negative return on equity of 75.87%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company earned $0.94 EPS. equities analysts expect that Taubman Centers, Inc. will post 3.72 EPS for the current fiscal year.
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TCO has been the topic of several analyst reports. BidaskClub upgraded Taubman Centers from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a research note on Monday, July 31st. Zacks Investment Research cut Taubman Centers from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. BMO Capital Markets initiated coverage on Taubman Centers in a research note on Monday, September 11th. They issued an “underperform” rating on the stock. Finally, Morgan Stanley cut Taubman Centers from an “equal weight” rating to an “underweight” rating in a research note on Monday, September 18th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $67.14.
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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