Taubman Centers, Inc. (NYSE:TCO) Director Purchases $253,400.00 in Stock

Taubman Centers, Inc. (NYSE:TCO) Director Cornelia Connelly Marakovits purchased 4,000 shares of the stock in a transaction dated Friday, December 15th. The shares were acquired at an average cost 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 of the company’s stock, valued at $468,980.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of Taubman Centers, Inc. (NYSE:TCO) traded up $1.35 on Thursday, reaching $62.69. The company’s stock had a trading volume of 801,786 shares, compared to its average volume of 1,234,823. The company has a debt-to-equity ratio of -21.77, a quick ratio of 0.35 and a current ratio of 0.35. Taubman Centers, Inc. has a fifty-two week low of $44.78 and a fifty-two week high of $73.41. The stock has a market capitalization of $3,720.00, a PE ratio of 59.14, a price-to-earnings-growth ratio of 5.02 and a beta of 0.61.

Taubman Centers (NYSE:TCO) last released its 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). Taubman Centers had a return on equity of 66.09% and a net margin of 0.34%. The business had revenue of $153.20 million for the quarter, compared to analysts’ expectations of $155.95 million. During the same quarter in the prior year, the business posted $0.94 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. equities research analysts forecast that Taubman Centers, Inc. will post 3.7 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Thursday, December 14th. Taubman Centers’s dividend payout ratio is currently 235.85%.

A number of research analysts have weighed in on TCO shares. Morgan Stanley downgraded Taubman Centers from an “equal weight” rating to an “underweight” rating in a report on Monday, September 18th. Zacks Investment Research downgraded Taubman Centers from a “hold” rating to a “sell” rating in a report on Monday, October 30th. BMO Capital Markets reissued a “hold” rating and issued a $62.00 target price on shares of Taubman Centers in a report on Tuesday. JPMorgan Chase & Co. downgraded Taubman Centers from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $64.00 to $57.00 in a report on Tuesday, September 26th. Finally, Jefferies Group restated a “neutral” rating on shares of Taubman Centers in a research report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.50.

Several large investors have recently added to or reduced their stakes in TCO. Land & Buildings Investment Management LLC grew its position in shares of Taubman Centers by 28.1% during the second quarter. Land & Buildings Investment Management LLC now owns 920,447 shares of the real estate investment trust’s stock worth $54,813,000 after purchasing an additional 202,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Taubman Centers by 162.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,531 shares of the real estate investment trust’s stock valued at $13,814,000 after buying an additional 169,730 shares in the last quarter. Sapience Investments LLC grew its holdings in Taubman Centers by 2,828.6% during the 2nd quarter. Sapience Investments LLC now owns 159,610 shares of the real estate investment trust’s stock valued at $9,505,000 after buying an additional 154,160 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Taubman Centers by 21.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 739,620 shares of the real estate investment trust’s stock valued at $36,760,000 after buying an additional 131,387 shares in the last quarter. Finally, PointState Capital LP purchased a new position in Taubman Centers during the 2nd quarter valued at approximately $6,592,000.

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Taubman Centers Company Profile

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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