Daiwa Securities Group Inc. Has $333,000 Position in Taubman Centers, Inc. (TCO)
Daiwa Securities Group Inc. increased its stake in shares of Taubman Centers, Inc. (NYSE:TCO) by 16.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,600 shares of the real estate investment trust’s stock after buying an additional 800 shares during the period. Daiwa Securities Group Inc.’s holdings in Taubman Centers were worth $333,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its position in shares of Taubman Centers by 84.2% in the first quarter. Canada Pension Plan Investment Board now owns 7,000 shares of the real estate investment trust’s stock valued at $462,000 after buying an additional 3,200 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Taubman Centers by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 21,041 shares of the real estate investment trust’s stock worth $1,389,000 after buying an additional 300 shares during the period. Clarkston Capital Partners LLC acquired a new position in Taubman Centers during the first quarter worth approximately $396,000. Malaga Cove Capital LLC boosted its position in Taubman Centers by 124.2% in the first quarter. Malaga Cove Capital LLC now owns 18,814 shares of the real estate investment trust’s stock worth $1,240,000 after buying an additional 10,423 shares during the period. Finally, ProShare Advisors LLC boosted its position in Taubman Centers by 1,286.0% in the first quarter. ProShare Advisors LLC now owns 302,879 shares of the real estate investment trust’s stock worth $1,427,000 after buying an additional 281,026 shares during the period. 98.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Taubman Centers, Inc. (TCO) opened at 53.61 on Wednesday. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 41.43 and a beta of 0.49. Taubman Centers, Inc. has a 12 month low of $53.48 and a 12 month high of $80.86. The company’s 50-day moving average price is $58.47 and its 200-day moving average price is $62.86.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. Taubman Centers had a negative return on equity of 110.46% and a net margin of 14.71%. The company had revenue of $154.68 million for the quarter, compared to the consensus estimate of $142.16 million. During the same quarter last year, the business posted $1.04 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. Analysts anticipate that Taubman Centers, Inc. will post $1.15 EPS for the current year.
TCO has been the subject of a number of research analyst reports. BidaskClub raised Taubman Centers from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. ValuEngine raised Taubman Centers from a “hold” rating to a “buy” rating in a report on Tuesday, May 16th. Morgan Stanley reissued an “equal weight” rating and set a $56.00 price target (down previously from $71.00) on shares of Taubman Centers in a report on Saturday, June 3rd. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a report on Monday, July 31st. Finally, Deutsche Bank AG boosted their price target on Taubman Centers from $68.00 to $71.00 and gave the stock a “hold” rating in a report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $73.57.
In other Taubman Centers news, Director Myron E. Ullman III acquired 12,325 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were bought at an average price of $56.90 per share, for a total transaction of $701,292.50. Following the completion of the transaction, the director now owns 16,646 shares of the company’s stock, valued at approximately $947,157.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 31.20% of the company’s stock.
About Taubman Centers
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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