Taubman Centers, Inc. (NYSE:TCO) – Stock analysts at KeyCorp reduced their FY2018 earnings per share (EPS) estimates for Taubman Centers in a report issued on Tuesday. KeyCorp analyst T. Thomas now anticipates that the real estate investment trust will post earnings of $3.80 per share for the year, down from their prior forecast of $3.87.

Several other research firms also recently weighed in on TCO. Morgan Stanley downgraded Taubman Centers from an “equal weight” rating to an “underweight” rating in a research report on Monday, September 18th. Zacks Investment Research upgraded Taubman Centers from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. BMO Capital Markets initiated coverage on Taubman Centers in a research report on Monday, September 11th. They set an “underperform” rating on the stock. J P Morgan Chase & Co downgraded Taubman Centers from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $64.00 to $57.00 in a research report on Tuesday, September 26th. Finally, Jefferies Group reiterated a “neutral” rating on shares of Taubman Centers in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. Taubman Centers currently has an average rating of “Hold” and an average target price of $64.75.

Taubman Centers (NYSE:TCO) traded up $0.74 during midday trading on Thursday, reaching $64.38. The company had a trading volume of 446,755 shares, compared to its average volume of 1,178,371. Taubman Centers has a 1 year low of $44.78 and a 1 year high of $76.79. The stock has a market capitalization of $3,863.75, a P/E ratio of 17.58, a PEG ratio of 5.14 and a beta of 0.62. 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 data on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.06). Taubman Centers had a net margin of 13.21% and a negative return on equity of 75.87%. The company had revenue of $153.20 million during the quarter, compared to analysts’ expectations of $155.95 million. During the same quarter in the prior year, the company earned $0.94 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.88%. Taubman Centers’s dividend payout ratio (DPR) is 238.10%.

In other news, COO William S. Taubman sold 35,000 shares of the firm’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 directly owns 67,633 shares in the company, valued at approximately $4,239,236.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Cornelia Connelly Marakovits acquired 4,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was purchased at an average price of $63.35 per share, for a total transaction of $253,400.00. Following the completion of the acquisition, the director now owns 7,403 shares in the company, valued at $468,980.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 93,318 shares of company stock worth $5,849,897. Company insiders own 31.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in TCO. Virtu KCG Holdings LLC purchased a new position in shares of Taubman Centers in the 2nd quarter worth about $227,000. Riverhead Capital Management LLC grew 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 buying 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 about $269,000. GAM Holding AG grew its stake in shares of Taubman Centers by 3.3% in the second quarter. GAM Holding AG now owns 5,154 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 166 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Taubman Centers in the third quarter valued at about $368,000.

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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.

Earnings History and Estimates for Taubman Centers (NYSE:TCO)

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