Taubman Centers, Inc. (NYSE:TCO) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 6,525,000 shares, an increase of 45.6% from the November 15th total of 4,480,393 shares. Currently, 11.1% of the company’s stock are short sold. Based on an average trading volume of 1,334,893 shares, the days-to-cover ratio is currently 4.9 days.

TCO has been the subject of several recent research reports. Jefferies Group reissued a “hold” rating and issued a $57.00 price target on shares of Taubman Centers in a research note on Tuesday, September 26th. Zacks Investment Research raised Taubman Centers from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. Boenning Scattergood reissued a “hold” rating on shares of Taubman Centers in a research note on Friday, November 3rd. BMO Capital Markets raised Taubman Centers from an “underperform” rating to a “market perform” rating and set a $48.00 price target for the company in a research note on Wednesday, December 13th. Finally, Mizuho reissued a “neutral” rating on shares of Taubman Centers in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Taubman Centers currently has a consensus rating of “Hold” and a consensus price target of $64.75.

Shares of Taubman Centers (NYSE TCO) opened at $64.35 on Tuesday. Taubman Centers has a 1-year low of $44.78 and a 1-year high of $76.79. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of -21.77. The firm has a market capitalization of $3,847.99, a P/E ratio of 17.51, a P/E/G ratio of 5.12 and a beta of 0.62.

Taubman Centers (NYSE:TCO) last posted 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). Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The company had revenue of $153.20 million during the quarter, compared to analyst estimates of $155.95 million. During the same quarter last year, the firm posted $0.94 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. analysts predict that Taubman Centers will post 3.71 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.625 dividend. The ex-dividend date is Thursday, December 14th. This represents a $2.50 annualized dividend and a yield of 3.89%. Taubman Centers’s dividend payout ratio (DPR) is currently 238.10%.

In other news, Director Cornelia Connelly Marakovits purchased 4,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average price of $63.35 per share, with a total value of $253,400.00. Following the purchase, the director now owns 7,403 shares in the company, valued at approximately $468,980.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert S. Taubman sold 58,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $62.68, for a total value of $3,635,440.00. Following the completion of the sale, the chief executive officer now directly owns 16,953 shares of the company’s stock, valued at approximately $1,062,614.04. The disclosure for this sale can be found here. Insiders own 31.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wisconsin Investment Board lifted its holdings in Taubman Centers by 0.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 11,748 shares of the real estate investment trust’s stock worth $700,000 after purchasing an additional 80 shares during the last quarter. Utah Retirement Systems lifted its holdings in Taubman Centers by 0.7% in the 2nd quarter. Utah Retirement Systems now owns 15,104 shares of the real estate investment trust’s stock worth $900,000 after purchasing an additional 101 shares during the last quarter. Comerica Bank lifted its holdings in Taubman Centers by 0.3% in the 2nd quarter. Comerica Bank now owns 50,343 shares of the real estate investment trust’s stock worth $3,049,000 after purchasing an additional 146 shares during the last quarter. GAM Holding AG lifted its holdings in Taubman Centers by 3.3% in the 2nd quarter. GAM Holding AG now owns 5,154 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 166 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Taubman Centers by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 94,784 shares of the real estate investment trust’s stock worth $5,644,000 after purchasing an additional 273 shares during the last quarter.

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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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