Equities analysts expect Taubman Centers, Inc. (NYSE:TCO) to post $149.01 million in sales for the current fiscal quarter, Zacks reports. Thirteen analysts have issued estimates for Taubman Centers’ earnings. The highest sales estimate is $167.23 million and the lowest is $138.44 million. Taubman Centers reported sales of $140.98 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.7%. The business is expected to report its next quarterly earnings results on Thursday, April 25th.

According to Zacks, analysts expect that Taubman Centers will report full year sales of $623.56 million for the current fiscal year, with estimates ranging from $587.86 million to $679.60 million. For the next fiscal year, analysts anticipate that the company will post sales of $638.67 million, with estimates ranging from $599.73 million to $687.65 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Taubman Centers.

Taubman Centers (NYSE:TCO) last released its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.84). The firm had revenue of $167.50 million during the quarter, compared to analyst estimates of $168.91 million. Taubman Centers had a net margin of 11.84% and a negative return on equity of 30.65%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share.

A number of research firms have recently issued reports on TCO. Zacks Investment Research lowered Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. Citigroup dropped their price objective on Taubman Centers from $66.00 to $57.00 and set a “hold” rating on the stock in a report on Wednesday, November 21st. Mizuho reaffirmed a “hold” rating and set a $55.00 price objective on shares of Taubman Centers in a report on Monday, December 3rd. Finally, KeyCorp set a $69.00 price objective on Taubman Centers and gave the stock a “buy” rating in a report on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. Taubman Centers currently has a consensus rating of “Hold” and a consensus price target of $59.53.

Shares of NYSE:TCO traded down $1.00 during trading on Tuesday, reaching $50.80. The company had a trading volume of 15,597 shares, compared to its average volume of 470,361. The firm has a market cap of $3.17 billion, a P/E ratio of 13.25, a PEG ratio of 3.68 and a beta of 0.82. Taubman Centers has a fifty-two week low of $43.44 and a fifty-two week high of $65.50.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a $0.675 dividend. This is an increase from Taubman Centers’s previous quarterly dividend of $0.66. The ex-dividend date is Thursday, March 14th. This represents a $2.70 annualized dividend and a dividend yield of 5.31%. Taubman Centers’s dividend payout ratio (DPR) is 68.41%.

Institutional investors have recently made changes to their positions in the business. First Trust Advisors LP boosted its position in shares of Taubman Centers by 19.8% in the third quarter. First Trust Advisors LP now owns 11,128 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 1,842 shares during the period. Arizona State Retirement System increased its stake in Taubman Centers by 2.3% during the 3rd quarter. Arizona State Retirement System now owns 43,308 shares of the real estate investment trust’s stock valued at $2,591,000 after purchasing an additional 963 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Taubman Centers by 1.2% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 87,098 shares of the real estate investment trust’s stock valued at $5,211,000 after purchasing an additional 1,061 shares in the last quarter. Wells Fargo & Company MN increased its stake in Taubman Centers by 6.1% during the 3rd quarter. Wells Fargo & Company MN now owns 581,063 shares of the real estate investment trust’s stock valued at $34,765,000 after purchasing an additional 33,359 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Taubman Centers by 191.4% during the 3rd quarter. American Century Companies Inc. now owns 468,714 shares of the real estate investment trust’s stock valued at $28,043,000 after purchasing an additional 307,891 shares in the last quarter.

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

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