Jaguar Listed Property LLC increased its position in shares of Taubman Centers, Inc. (NYSE:TCO) by 29.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,940 shares of the real estate investment trust’s stock after purchasing an additional 18,900 shares during the period. Taubman Centers comprises about 3.0% of Jaguar Listed Property LLC’s investment portfolio, making the stock its 15th largest position. Jaguar Listed Property LLC’s holdings in Taubman Centers were worth $4,386,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TCO. AQR Capital Management LLC raised its stake in Taubman Centers by 7.6% during the third quarter. AQR Capital Management LLC now owns 14,976 shares of the real estate investment trust’s stock worth $896,000 after purchasing an additional 1,060 shares during the period. Vanguard Group Inc raised its stake in Taubman Centers by 0.7% during the third quarter. Vanguard Group Inc now owns 8,930,867 shares of the real estate investment trust’s stock worth $534,334,000 after purchasing an additional 63,557 shares during the period. First Hawaiian Bank raised 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. Bank of Montreal Can raised its stake in Taubman Centers by 1.4% during the fourth quarter. Bank of Montreal Can now owns 16,730 shares of the real estate investment trust’s stock worth $761,000 after purchasing an additional 229 shares during the period. Finally, Strs Ohio raised its stake in Taubman Centers by 7.0% during the fourth quarter. Strs Ohio now owns 87,401 shares of the real estate investment trust’s stock worth $3,975,000 after purchasing an additional 5,724 shares during the period.
Shares of TCO opened at $48.93 on Tuesday. Taubman Centers, Inc. has a 1-year low of $43.44 and a 1-year high of $65.50. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 3.33 and a beta of 0.78.
Taubman Centers (NYSE:TCO) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.65). Taubman Centers had a net margin of 11.23% and a negative return on equity of 24.45%. The company had revenue of $160.28 million for the quarter, compared to analyst estimates of $161.24 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. Taubman Centers’s revenue was down .7% on a year-over-year basis. Equities research analysts anticipate that Taubman Centers, Inc. will post 3.67 EPS for the current year.
A number of equities analysts have commented on the stock. 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 downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. Finally, Mizuho set a $48.00 target price on shares of Taubman Centers and gave the stock a “hold” rating in a research note on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $59.53.
In related news, Director Mayree C. Clark purchased 3,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was acquired at an average cost of $51.94 per share, for a total transaction of $155,820.00. Following the completion of the transaction, the director now directly owns 6,478 shares in the company, valued at $336,467.32. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 31.20% of the stock is owned by company insiders.
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Taubman Centers 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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