Analysts expect Taubman Centers, Inc. (NYSE:TCO) to report sales of $149.01 million for the current quarter, Zacks Investment Research reports. Thirteen analysts have issued estimates for Taubman Centers’ earnings. The highest sales estimate is $167.23 million and the lowest is $138.44 million. Taubman Centers reported sales of $140.98 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The company is scheduled to issue its next quarterly earnings results on Thursday, April 25th.
On average, analysts expect that Taubman Centers will report full year sales of $623.56 million for the current year, with estimates ranging from $587.86 million to $679.60 million. For the next fiscal year, analysts expect that the company will report sales of $638.67 million, with estimates ranging from $599.73 million to $687.65 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Taubman Centers.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.84). The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $168.91 million. Taubman Centers had a negative return on equity of 30.65% and a net margin of 11.84%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 earnings per share.
Several institutional investors have recently made changes to their positions in TCO. Cohen & Steers Inc. grew its position in shares of Taubman Centers by 434.6% during the third quarter. Cohen & Steers Inc. now owns 4,845,258 shares of the real estate investment trust’s stock worth $289,892,000 after buying an additional 3,938,892 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Taubman Centers by 518.5% during the fourth quarter. Principal Financial Group Inc. now owns 2,194,577 shares of the real estate investment trust’s stock worth $99,832,000 after buying an additional 1,839,759 shares in the last quarter. Norges Bank acquired a new position in shares of Taubman Centers during the fourth quarter worth about $45,118,000. American Century Companies Inc. grew its position in shares of Taubman Centers by 191.4% during the third quarter. American Century Companies Inc. now owns 468,714 shares of the real estate investment trust’s stock worth $28,043,000 after buying an additional 307,891 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Taubman Centers by 345.8% during the third quarter. Renaissance Technologies LLC now owns 300,000 shares of the real estate investment trust’s stock worth $17,949,000 after buying an additional 232,700 shares in the last quarter.
Shares of NYSE:TCO traded down $1.00 during midday trading on Tuesday, reaching $50.80. 15,597 shares of the company’s stock were exchanged, compared to its average volume of 470,361. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 3.68 and a beta of 0.82. Taubman Centers has a fifty-two week low of $43.44 and a fifty-two week high of $65.50.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a $0.675 dividend. This is an increase from Taubman Centers’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend is Thursday, March 14th. Taubman Centers’s payout ratio is currently 68.41%.
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 and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.
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