Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Taubman Centers (TCO) Stock Price
Headlines about Taubman Centers (NYSE:TCO) have trended somewhat positive on Thursday, Accern Sentiment reports. Accern identifies positive and negative press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Taubman Centers earned a news sentiment score of 0.22 on Accern’s scale. Accern also gave media coverage about the real estate investment trust an impact score of 47.9831672173991 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the headlines that may have impacted Accern’s scoring:
- Taubman Centers declares a regular quarterly dividend of $0.625 per share of common stock (eprretailnews.com)
- Taubman Centers, Inc. declares $0.625 dividend (seekingalpha.com)
- Taubman Centers, Inc. (TCO) Announces $0.63 Quarterly Dividend (americanbankingnews.com)
- Taubman Centers Declares Common and Preferred Dividends (markets.financialcontent.com)
- Taubman Centers, Inc. (TCO) Expected to Post Quarterly Sales of $164.40 Million (americanbankingnews.com)
Taubman Centers (TCO) traded down $0.51 during midday trading on Thursday, reaching $58.69. 615,158 shares of the company traded hands, compared to its average volume of 637,170. The stock has a market capitalization of $3,639.12, a PE ratio of 16.56, a P/E/G ratio of 4.84 and a beta of 0.62. Taubman Centers has a 52-week low of $44.78 and a 52-week high of $76.79. 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 (NYSE:TCO) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.06). The firm had revenue of $153.20 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.94 earnings per share. equities research analysts predict that Taubman Centers will post 3.71 earnings per share for the current year.
The company 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 dividend of $0.625 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.50 annualized dividend and a yield of 4.26%. Taubman Centers’s dividend payout ratio is currently 238.10%.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co downgraded shares of Taubman Centers from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $64.00 to $57.00 in a research note on Tuesday, September 26th. Jefferies Group reiterated a “hold” rating and set a $57.00 target price on shares of Taubman Centers in a research note on Tuesday, September 26th. Mizuho reiterated a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, November 8th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a research note on Friday, November 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Taubman Centers presently has an average rating of “Hold” and a consensus price target of $67.14.
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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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