Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of Taubman Centers, Inc. (NYSE:TCO) by 38.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 38,152 shares of the real estate investment trust’s stock after selling 23,948 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Taubman Centers were worth $2,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Louisiana State Employees Retirement System increased its position in shares of Taubman Centers by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,400 shares of the real estate investment trust’s stock worth $867,000 after purchasing an additional 200 shares during the period. Bank of Montreal Can increased its position in shares of Taubman Centers by 1.4% in the fourth quarter. Bank of Montreal Can now owns 16,730 shares of the real estate investment trust’s stock worth $761,000 after purchasing an additional 229 shares during the period. Eaton Vance Management increased its position in shares of Taubman Centers by 3.0% in the fourth quarter. Eaton Vance Management now owns 9,730 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 279 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Taubman Centers by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 24,425 shares of the real estate investment trust’s stock worth $1,292,000 after purchasing an additional 290 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of Taubman Centers by 3.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 9,300 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 300 shares during the period. Institutional investors own 99.58% of the company’s stock.

In other Taubman Centers news, Director Mayree C. Clark bought 3,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of $51.94 per share, for a total transaction of $155,820.00. Following the completion of the transaction, the director now directly owns 6,478 shares in the company, valued at approximately $336,467.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 31.20% of the company’s stock.

TCO has been the topic of a number of recent analyst reports. BMO Capital Markets restated a “hold” rating and issued a $55.00 price target on shares of Taubman Centers in a research report on Thursday, February 14th. Zacks Investment Research upgraded Taubman Centers from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Mizuho set a $48.00 target price on Taubman Centers and gave the company a “hold” rating in a research report on Tuesday, February 19th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $59.53.

Taubman Centers stock traded down $0.64 during midday trading on Monday, reaching $43.72. The company’s stock had a trading volume of 4,986 shares, compared to its average volume of 368,384. Taubman Centers, Inc. has a 52 week low of $42.91 and a 52 week high of $65.50. The stock has a market cap of $2.71 billion, a PE ratio of 11.45, a P/E/G ratio of 2.95 and a beta of 0.82.

Taubman Centers (NYSE:TCO) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.65). Taubman Centers had a net margin of 11.23% and a negative return on equity of 24.45%. The business had revenue of $160.28 million during the quarter, compared to the consensus estimate of $161.24 million. During the same quarter in the prior year, the firm earned $1.04 EPS. The business’s revenue was down .7% on a year-over-year basis. Research analysts forecast that Taubman Centers, Inc. will post 3.67 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend is Thursday, June 13th. Taubman Centers’s dividend payout ratio is presently 70.50%.

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Taubman Centers 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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Institutional Ownership by Quarter for Taubman Centers (NYSE:TCO)

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