Equities analysts forecast that Taubman Centers, Inc. (NYSE:TCO) will post sales of $148.13 million for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for Taubman Centers’ earnings, with the highest sales estimate coming in at $163.19 million and the lowest estimate coming in at $138.91 million. Taubman Centers reported sales of $139.70 million during the same quarter last year, which indicates a positive year over year growth rate of 6%. The company is scheduled to report its next quarterly earnings results on Monday, July 29th.
According to Zacks, analysts expect that Taubman Centers will report full-year sales of $615.37 million for the current year, with estimates ranging from $582.34 million to $645.10 million. For the next year, analysts forecast that the company will post sales of $638.84 million, with estimates ranging from $591.86 million to $687.65 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Taubman Centers.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.65). Taubman Centers had a net margin of 11.23% and a negative return on equity of 24.45%. The firm had revenue of $160.28 million for the quarter, compared to analysts’ expectations of $161.24 million. During the same quarter in the previous year, the company earned $1.04 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year.
TCO stock traded down $0.14 on Friday, hitting $48.51. The company had a trading volume of 2,505 shares, compared to its average volume of 302,788. Taubman Centers has a 12-month low of $43.44 and a 12-month high of $65.50. The stock has a market capitalization of $3.01 billion, a P/E ratio of 12.84, a P/E/G ratio of 3.32 and a beta of 0.78.
In other news, Director Mayree C. Clark acquired 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average cost of $51.94 per share, for a total transaction of $155,820.00. Following the transaction, the director now directly owns 6,478 shares of the company’s stock, valued at $336,467.32. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 31.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in Taubman Centers by 53.5% in the 1st quarter. FMR LLC now owns 2,281,964 shares of the real estate investment trust’s stock valued at $120,670,000 after purchasing an additional 795,047 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Taubman Centers during the 1st quarter worth approximately $214,000. Man Group plc increased its position in Taubman Centers by 2.6% during the 1st quarter. Man Group plc now owns 305,610 shares of the real estate investment trust’s stock worth $16,161,000 after purchasing an additional 7,800 shares in the last quarter. Advisors Asset Management Inc. increased its position in Taubman Centers by 8.8% during the 1st quarter. Advisors Asset Management Inc. now owns 8,475 shares of the real estate investment trust’s stock worth $448,000 after purchasing an additional 688 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Taubman Centers by 29.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,996 shares of the real estate investment trust’s stock worth $10,100,000 after purchasing an additional 43,080 shares in the last quarter. Institutional investors own 98.68% of the company’s stock.
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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