GSA Capital Partners LLP increased its holdings in Taubman Centers, Inc. (NYSE:TCO) by 290.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,438 shares of the real estate investment trust’s stock after acquiring an additional 12,968 shares during the quarter. GSA Capital Partners LLP’s holdings in Taubman Centers were worth $1,025,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. FDx Advisors Inc. increased its stake in Taubman Centers by 25.1% during the first quarter. FDx Advisors Inc. now owns 5,970 shares of the real estate investment trust’s stock valued at $340,000 after acquiring an additional 1,199 shares during the period. Wells Fargo & Company MN increased its stake in Taubman Centers by 726.6% during the first quarter. Wells Fargo & Company MN now owns 613,561 shares of the real estate investment trust’s stock valued at $34,917,000 after acquiring an additional 539,331 shares during the period. Daiwa Securities Group Inc. increased its stake in Taubman Centers by 13.2% during the first quarter. Daiwa Securities Group Inc. now owns 7,700 shares of the real estate investment trust’s stock valued at $438,000 after acquiring an additional 900 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Taubman Centers by 12.8% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,813 shares of the real estate investment trust’s stock valued at $558,000 after acquiring an additional 1,113 shares during the period. Finally, Alps Advisors Inc. increased its stake in Taubman Centers by 151.8% during the first quarter. Alps Advisors Inc. now owns 8,917 shares of the real estate investment trust’s stock valued at $507,000 after acquiring an additional 5,375 shares during the period.
NYSE TCO opened at $63.03 on Friday. 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 company has a market cap of $3.89 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 4.38 and a beta of 0.52. Taubman Centers, Inc. has a 1-year low of $44.78 and a 1-year high of $66.61.
Taubman Centers (NYSE:TCO) last released its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The company had revenue of $152.76 million for the quarter, compared to the consensus estimate of $151.94 million. Taubman Centers had a negative return on equity of 41.96% and a net margin of 11.95%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. sell-side analysts predict that Taubman Centers, Inc. will post 3.79 EPS for the current year.
Several equities analysts recently issued reports on TCO shares. ValuEngine upgraded Taubman Centers from a “strong sell” rating to a “sell” rating in a research note on Friday, June 1st. JPMorgan Chase & Co. upgraded Taubman Centers from a “neutral” rating to an “overweight” rating in a research note on Friday, June 15th. Bank of America boosted their price target on Taubman Centers from $60.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, August 13th. Morgan Stanley decreased their price objective on Taubman Centers from $56.00 to $51.50 and set an “underweight” rating on the stock in a report on Thursday, June 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $63.00 price objective on shares of Taubman Centers in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $61.44.
Taubman Centers Company 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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