Oregon Public Employees Retirement Fund raised its position in Taubman Centers, Inc. (NYSE:TCO) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,018 shares of the real estate investment trust’s stock after buying an additional 977 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Taubman Centers were worth $1,311,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning increased its position 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 last quarter. Daiwa Securities Group Inc. increased its position 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 last quarter. World Asset Management Inc boosted its stake in 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 during the period. Fox Run Management L.L.C. purchased a new stake in Taubman Centers during the second quarter worth $333,000. Finally, Clinton Group Inc. purchased a new stake in Taubman Centers during the first quarter worth $342,000. Institutional investors own 98.73% of the company’s stock.
Shares of Taubman Centers, Inc. (NYSE TCO) traded down 0.72% on Friday, hitting $54.95. 722,435 shares of the company’s stock traded hands. Taubman Centers, Inc. has a 1-year low of $54.00 and a 1-year high of $80.86. The firm’s 50-day moving average price is $58.75 and its 200 day moving average price is $63.22. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 42.47 and a beta of 0.49.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. The company had revenue of $154.68 million for the quarter, compared to analyst estimates of $142.16 million. Taubman Centers had a negative return on equity of 110.46% and a net margin of 14.71%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.04 earnings per share. On average, equities research analysts expect that Taubman Centers, Inc. will post $1.15 earnings per share for the current year.
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A number of analysts recently weighed in on the stock. BidaskClub cut shares of Taubman Centers from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Wednesday. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a research note on Monday, July 31st. KeyCorp lowered their target price on shares of Taubman Centers from $85.00 to $79.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 28th. Finally, ValuEngine raised shares of Taubman Centers from a “hold” rating to a “buy” rating in a research note on Tuesday, May 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $73.57.
In related news, Director Myron E. Ullman III acquired 12,325 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were bought at an average cost of $56.90 per share, with a total value of $701,292.50. Following the completion of the purchase, the director now directly owns 16,646 shares in the company, valued at $947,157.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 31.20% of the stock is owned by insiders.
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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