The Taubman Centers, Inc. (NYSE:TCO) Rating Lowered to Hold at BidaskClub

Xavier Trudeau
Août 7, 2017

South Dakota Council owns 0.01% invested in Taubman Centers, Inc. Creative Planning now owns 2,790 shares of the real estate investment trust's stock worth $166,000 after buying an additional 206 shares in the last quarter. State Treasurer State of Michigan's holdings in Taubman Centers were worth $1,489,000 at the end of the most recent reporting period. Creative Planning raised its position in Taubman Centers by 8.0% in the second quarter. State of Alaska Department of Revenue now owns 30,110 shares of the real estate investment trust's stock worth $1,987,000 after buying an additional 7,050 shares during the last quarter. LS Investment Advisors LLC now owns 4,805 shares of the real estate investment trust's stock valued at $286,000 after buying an additional 692 shares in the last quarter. Comerica Bank boosted its stake in shares of Taubman Centers by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 773,257 shares of the real estate investment trust's stock worth $46,048,000 after buying an additional 11,689 shares in the last quarter. World Asset Management Inc increased its stake in shares of Taubman Centers by 7.3% in the first quarter. World Asset Management Inc now owns 4,848 shares of the real estate investment trust's stock worth $320,000 after buying an additional 328 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Taubman Centers by 1.5% in the second quarter.

Several large investors have recently modified their holdings of TCO.

Taubman Centers (NYSE:TCO) last posted its quarterly earnings results on Thursday, July 27th. 180,069 shares of the company were exchanged. The company's 50-day moving average price is $59.37 and its 200 day moving average price is $63.94. Taubman Centers has a 52 week low of $55.46 and a 52 week high of $80.86. The company has market cap of $3.41 billion.

Media headlines about Taubman Centers (NYSE:TCO) have trended somewhat positive this week, according to Accern. The real estate investment trust reported $0.86 EPS for the quarter, topping the Zacks' consensus estimate of $0.84 by $0.02. The firm had revenue of $154.68 million during the quarter, compared to analysts' expectations of $142.16 million. Taubman Centers had a net margin of 14.71% and a negative return on equity of 110.46%. Taubman Centers's revenue was down 2.6% compared to the same quarter previous year. During the same quarter in the prior year, the firm earned $1.04 EPS. On average, equities analysts forecast that Taubman Centers will post $1.15 EPS for the current year.

TRADEMARK VIOLATION WARNING: This report was originally published by BBNS and is owned by of BBNS. If you are viewing this report on another website, it was illegally stolen and republished in violation of USA and worldwide trademark & copyright laws. The original version of this news story can be accessed at https://weekherald.com/2017/08/05/meag-munich-ergo-kapitalanlagegesellschaft-mbh-increases-stake-in-taubman-centers-inc-tco-updated.html. Jefferies Group LLC reaffirmed a "hold" rating and issued a $70.00 target price on shares of Taubman Centers in a research report on Monday, April 17th. ValuEngine raised Taubman Centers from a hold rating to a buy rating in a research note on Tuesday, May 16th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $56.00 target price (down previously from $71.00) on shares of Taubman Centers in a research note on Saturday, June 3rd. Zacks Investment Research lowered Taubman Centers from a "hold" rating to a "sell" rating in a research note on Tuesday, April 11th. Finally, Boenning Scattergood restated a "hold" rating on shares of Taubman Centers in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company's stock. The company now has a consensus rating of "Hold" and a consensus price target of $75.44. 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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