Bank of Montreal Can Sells 640,944 Shares of Taubman Centers, Inc. (TCO)
Bank of Montreal Can lessened its position in Taubman Centers, Inc. (NYSE:TCO) by 98.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,720 shares of the real estate investment trust’s stock after selling 640,944 shares during the quarter. Bank of Montreal Can’s holdings in Taubman Centers were worth $833,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in TCO. Virtu KCG Holdings LLC bought a new position in Taubman Centers in the 2nd quarter worth $227,000. Cubist Systematic Strategies LLC bought a new position in Taubman Centers in the 3rd quarter worth $368,000. Crossmark Global Holdings Inc. bought a new position in Taubman Centers in the 3rd quarter worth $370,000. Stifel Financial Corp raised its holdings in Taubman Centers by 7.0% in the 2nd quarter. Stifel Financial Corp now owns 7,674 shares of the real estate investment trust’s stock worth $457,000 after acquiring an additional 500 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Taubman Centers by 23.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 13,000 shares of the real estate investment trust’s stock worth $646,000 after acquiring an additional 2,500 shares during the period.
Shares of Taubman Centers, Inc. (NYSE TCO) opened at $60.74 on Monday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of -21.77. The stock has a market cap of $3,687.71, a price-to-earnings ratio of 67.49, a price-to-earnings-growth ratio of 3.58 and a beta of 0.52. Taubman Centers, Inc. has a 12-month low of $44.78 and a 12-month high of $70.85.
Several research analysts recently commented on the stock. BMO Capital Markets upgraded shares of Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 target price on the stock in a report on Wednesday, December 13th. Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Mizuho set a $63.00 target price on shares of Taubman Centers and gave the stock a “hold” rating in a report on Friday. Boenning Scattergood reiterated a “hold” rating on shares of Taubman Centers in a report on Monday, February 12th. Finally, Sandler O’Neill set a $63.00 target price on shares of Taubman Centers and gave the stock a “hold” rating in a report on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $64.20.
In other Taubman Centers news, CEO Robert S. Taubman sold 58,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total value of $3,635,440.00. Following the sale, the chief executive officer now directly owns 16,953 shares in the company, valued at approximately $1,062,614.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO William S. Taubman sold 35,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total transaction of $2,193,800.00. Following the completion of the sale, the chief operating officer now owns 67,633 shares in the company, valued at $4,239,236.44. The disclosure for this sale can be found here. Insiders sold a total of 94,668 shares of company stock worth $5,929,034 over the last 90 days. Company insiders own 31.20% of the company’s stock.
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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