Forward Management LLC maintained its stake in Taubman Centers, Inc. (NYSE:TCO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,650 shares of the real estate investment trust’s stock at the end of the second quarter. Taubman Centers makes up approximately 1.3% of Forward Management LLC’s portfolio, making the stock its 23rd largest position. Forward Management LLC’s holdings in Taubman Centers were worth $15,164,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of TCO. Creative Planning boosted its stake in Taubman Centers by 8.0% in the second quarter. Creative Planning now owns 2,790 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 206 shares during the period. LS Investment Advisors LLC boosted its stake in Taubman Centers by 16.8% in the second quarter. LS Investment Advisors LLC now owns 4,805 shares of the real estate investment trust’s stock worth $286,000 after buying an additional 692 shares during the period. World Asset Management Inc boosted its stake in Taubman Centers by 1.4% in the second quarter. World Asset Management Inc now owns 4,917 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 69 shares during the period. Daiwa Securities Group Inc. boosted its stake in Taubman Centers by 37.1% in the first quarter. Daiwa Securities Group Inc. now owns 4,800 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 1,300 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Taubman Centers during the second quarter worth approximately $333,000. 98.73% of the stock is currently owned by institutional investors.
Taubman Centers, Inc. (TCO) opened at 56.33 on Thursday. Taubman Centers, Inc. has a 1-year low of $55.00 and a 1-year high of $80.86. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 43.53 and a beta of 0.49. The company has a 50-day moving average of $58.91 and a 200-day moving average of $63.39.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. Taubman Centers had a net margin of 14.71% and a negative return on equity of 110.46%. The business had revenue of $154.68 million during the quarter, compared to analysts’ expectations of $142.16 million. During the same period last year, the company posted $1.04 EPS. The business’s revenue was down 2.6% on a year-over-year basis. Analysts anticipate that Taubman Centers, Inc. will post $1.15 earnings per share for the current fiscal year.
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A number of research firms recently commented on TCO. BidaskClub raised shares of Taubman Centers from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research raised shares of Taubman Centers from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Deutsche Bank AG lifted their price objective on shares of Taubman Centers from $68.00 to $71.00 and gave the company a “hold” rating in a research note on Monday, May 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $56.00 price objective (down from $71.00) on shares of Taubman Centers in a research note on Saturday, June 3rd. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $75.00.
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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