Arizona State Retirement System boosted its stake in Taubman Centers, Inc. (NYSE:TCO) by 1.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 43,829 shares of the real estate investment trust’s stock after buying an additional 521 shares during the period. Arizona State Retirement System’s holdings in Taubman Centers were worth $1,994,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. First Hawaiian Bank raised its position in shares of Taubman Centers by 147.2% during the fourth quarter. First Hawaiian Bank now owns 1,137 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 677 shares during the last quarter. Commonwealth Bank of Australia acquired a new stake in shares of Taubman Centers during the third quarter worth $179,000. Klingenstein Fields & Co. LLC acquired a new stake in shares of Taubman Centers during the third quarter worth $216,000. Oakbrook Investments LLC acquired a new stake in shares of Taubman Centers during the third quarter worth $243,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Taubman Centers during the third quarter worth $244,000.

NYSE:TCO opened at $48.87 on Thursday. Taubman Centers, Inc. has a 1 year low of $43.44 and a 1 year high of $65.50. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 4.88 and a beta of 0.83.

Taubman Centers (NYSE:TCO) last posted its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Taubman Centers had a negative return on equity of 45.76% and a net margin of 14.42%. The firm had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $168.91 million. During the same period in the previous year, the firm earned $1.03 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. Equities research analysts predict that Taubman Centers, Inc. will post 3.8 EPS for the current year.

A number of brokerages recently commented on TCO. BMO Capital Markets set a $55.00 price objective on Taubman Centers and gave the stock a “hold” rating in a research note on Thursday. Zacks Investment Research raised Taubman Centers from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. KeyCorp set a $69.00 price objective on Taubman Centers and gave the stock a “buy” rating in a research note on Thursday, December 20th. Mizuho reaffirmed a “hold” rating and set a $55.00 price objective on shares of Taubman Centers in a research note on Monday, December 3rd. Finally, Morgan Stanley raised Taubman Centers from an “underweight” rating to an “equal weight” rating and set a $50.85 target price for the company in a research note on Sunday, December 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $60.17.

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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. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.

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

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