Sei Investments Co. boosted its holdings in Taubman Centers, Inc. (NYSE:TCO) by 11.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,088 shares of the real estate investment trust’s stock after purchasing an additional 18,982 shares during the period. Sei Investments Co.’s holdings in Taubman Centers were worth $10,993,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. purchased a new position in Taubman Centers in the first quarter worth $127,000. World Asset Management Inc purchased a new position in Taubman Centers in the second quarter worth $210,000. Fox Run Management L.L.C. purchased a new position in shares of Taubman Centers during the 2nd quarter valued at $215,000. GSA Capital Partners LLP purchased a new position in shares of Taubman Centers during the 1st quarter valued at $254,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Taubman Centers during the 1st quarter valued at $261,000.
A number of research analysts have recently commented on the company. BMO Capital Markets set a $62.00 price target on Taubman Centers and gave the company a “hold” rating in a research report on Monday, July 30th. BTIG Research reaffirmed a “hold” rating on shares of Taubman Centers in a research report on Sunday, April 29th. Citigroup upped their price target on Taubman Centers from $61.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, August 9th. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a research report on Monday, April 30th. Finally, ValuEngine cut Taubman Centers from a “hold” rating to a “sell” rating in a research report on Friday, June 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $60.69.
Shares of NYSE TCO opened at $63.70 on Friday. Taubman Centers, Inc. has a one year low of $44.78 and a one year high of $66.61. The company has a debt-to-equity ratio of -18.16, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $3.82 billion, a PE ratio of 17.22, a PEG ratio of 4.13 and a beta of 0.57.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. Taubman Centers had a negative return on equity of 41.96% and a net margin of 11.95%. The firm had revenue of $152.76 million for the quarter, compared to analysts’ expectations of $151.94 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. research analysts expect that Taubman Centers, Inc. will post 3.8 EPS for the current fiscal year.
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. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.
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