Brokerages expect that Taubman Centers, Inc. (NYSE:TCO) will announce sales of $165.01 million for the current fiscal quarter, Zacks Investment Research reports. Fifteen analysts have made estimates for Taubman Centers’ earnings, with the highest sales estimate coming in at $171.89 million and the lowest estimate coming in at $153.01 million. Taubman Centers reported sales of $166.19 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.7%. The company is scheduled to issue its next earnings report after the market closes on Thursday, February 8th.

On average, analysts expect that Taubman Centers will report full-year sales of $165.01 million for the current year, with estimates ranging from $570.32 million to $633.44 million. For the next year, analysts anticipate that the company will report sales of $627.13 million per share, with estimates ranging from $571.72 million to $667.97 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Taubman Centers.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.06). The firm had revenue of $153.20 million during the quarter, compared to analyst estimates of $155.95 million. Taubman Centers had a net margin of 13.21% and a negative return on equity of 75.87%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS.

A number of analysts have commented on TCO shares. Jefferies Group reiterated a “neutral” rating on shares of Taubman Centers in a research note on Friday, October 13th. Zacks Investment Research cut shares of Taubman Centers from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a research note on Friday, November 3rd. Mizuho reiterated a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, November 8th. Finally, BMO Capital Markets upgraded shares of Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price target for the company in a research note on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $65.00.

In related news, COO William S. Taubman sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total transaction of $2,193,800.00. Following the transaction, the chief operating officer now directly owns 67,633 shares of the company’s stock, valued at $4,239,236.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Cornelia Connelly Marakovits purchased 4,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were acquired at an average cost of $63.35 per share, for a total transaction of $253,400.00. Following the completion of the transaction, the director now owns 7,403 shares of the company’s stock, valued at approximately $468,980.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 93,318 shares of company stock worth $5,849,897. 31.20% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Taubman Centers by 1.3% during the second quarter. BlackRock Inc. now owns 6,495,611 shares of the real estate investment trust’s stock worth $386,814,000 after acquiring an additional 82,291 shares during the period. State Street Corp increased its holdings in Taubman Centers by 0.5% in the 2nd quarter. State Street Corp now owns 2,665,010 shares of the real estate investment trust’s stock valued at $158,705,000 after buying an additional 13,584 shares during the period. Land & Buildings Investment Management LLC increased its holdings in Taubman Centers by 14.5% in the 3rd quarter. Land & Buildings Investment Management LLC now owns 1,053,547 shares of the real estate investment trust’s stock valued at $52,361,000 after buying an additional 133,100 shares during the period. Dimensional Fund Advisors LP increased its holdings in Taubman Centers by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 923,894 shares of the real estate investment trust’s stock valued at $45,919,000 after buying an additional 28,282 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Taubman Centers by 12.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 865,821 shares of the real estate investment trust’s stock valued at $43,031,000 after buying an additional 92,564 shares during the period. 99.94% of the stock is currently owned by institutional investors and hedge funds.

Shares of Taubman Centers (NYSE TCO) traded up $0.02 during mid-day trading on Friday, reaching $63.77. 977,978 shares of the company’s stock were exchanged, compared to its average volume of 1,120,000. The firm has a market capitalization of $3,870.00, a PE ratio of 60.16, a P/E/G ratio of 5.03 and a beta of 0.61. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of -21.77. Taubman Centers has a 12-month low of $44.78 and a 12-month high of $71.77.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend was Thursday, December 14th. Taubman Centers’s dividend payout ratio is 235.85%.

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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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Earnings History and Estimates for Taubman Centers (NYSE:TCO)

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