Royal Bank of Canada lessened its holdings in shares of Taubman Centers, Inc. (NYSE:TCO) by 21.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,047 shares of the real estate investment trust’s stock after selling 2,209 shares during the quarter. Royal Bank of Canada’s holdings in Taubman Centers were worth $480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Prudential Financial Inc. raised its stake in Taubman Centers by 8.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,262,304 shares of the real estate investment trust’s stock valued at $75,170,000 after purchasing an additional 94,011 shares during the period. Canada Pension Plan Investment Board raised its stake in Taubman Centers by 50.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 10,500 shares of the real estate investment trust’s stock valued at $625,000 after purchasing an additional 3,500 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Taubman Centers by 14.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 608,233 shares of the real estate investment trust’s stock valued at $36,221,000 after purchasing an additional 77,353 shares during the period. Bank of Montreal Can raised its stake in Taubman Centers by 184.1% during the 2nd quarter. Bank of Montreal Can now owns 254,238 shares of the real estate investment trust’s stock valued at $15,140,000 after purchasing an additional 164,759 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Taubman Centers by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 773,257 shares of the real estate investment trust’s stock valued at $46,048,000 after purchasing an additional 11,689 shares during the period.

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Taubman Centers, Inc. (NYSE:TCO) opened at $53.81 on Tuesday. The firm has a market capitalization of $3,224.45, a P/E ratio of 14.67, a PEG ratio of 4.29 and a beta of 0.52. 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, Inc. has a 12-month low of $44.78 and a 12-month high of $76.79.

Taubman Centers (NYSE:TCO) last released its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.06). The company had revenue of $153.20 million for the quarter, compared to the consensus estimate 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 for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 EPS. analysts forecast that Taubman Centers, Inc. will post 3.72 earnings per share for the current year.

TCO has been the topic of a number of research reports. BidaskClub raised Taubman Centers from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research downgraded Taubman Centers from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of Taubman Centers in a research note on Monday, July 31st. BMO Capital Markets initiated coverage on Taubman Centers in a research note on Monday, September 11th. They issued an “underperform” rating on the stock. Finally, Morgan Stanley downgraded Taubman Centers from an “equal weight” rating to an “underweight” rating in a research note on Monday, September 18th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $67.14.

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.

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

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