AMP Capital Investors Ltd grew its holdings in shares of Taubman Centers, Inc. (NYSE:TCO) by 228.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,728 shares of the real estate investment trust’s stock after purchasing an additional 47,100 shares during the period. AMP Capital Investors Ltd owned approximately 0.11% of Taubman Centers worth $3,366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Land & Buildings Investment Management LLC increased its holdings in shares of Taubman Centers by 14.5% during the third quarter. Land & Buildings Investment Management LLC now owns 1,053,547 shares of the real estate investment trust’s stock valued at $52,361,000 after purchasing an additional 133,100 shares during the period. Prudential Financial Inc. grew its holdings in Taubman Centers by 8.0% during the second quarter. Prudential Financial Inc. now owns 1,262,304 shares of the real estate investment trust’s stock worth $75,170,000 after acquiring an additional 94,011 shares during the period. Canada Pension Plan Investment Board grew its holdings in Taubman Centers by 50.0% during the second quarter. Canada Pension Plan Investment Board now owns 10,500 shares of the real estate investment trust’s stock worth $625,000 after acquiring an additional 3,500 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Taubman Centers by 14.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 608,233 shares of the real estate investment trust’s stock worth $36,221,000 after acquiring an additional 77,353 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in Taubman Centers by 41.7% during the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 182,413 shares of the real estate investment trust’s stock worth $9,207,000 after acquiring an additional 53,713 shares during the period.

In other Taubman Centers news, COO William S. Taubman sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total transaction of $2,193,800.00. Following the completion of the sale, the chief operating officer now directly owns 67,633 shares in the company, valued at approximately $4,239,236.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert S. Taubman sold 58,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $62.68, for a total value of $3,635,440.00. Following the sale, the chief executive officer now owns 16,953 shares of the company’s stock, valued at $1,062,614.04. The disclosure for this sale can be found here. Company insiders own 31.20% of the company’s stock.

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

Taubman Centers, Inc. (NYSE:TCO) opened at $63.38 on Monday. The company has a debt-to-equity ratio of -21.77, a current ratio of 0.35 and a quick ratio of 0.35. Taubman Centers, Inc. has a 1 year low of $44.78 and a 1 year high of $76.79. The firm has a market capitalization of $3,847.99, a price-to-earnings ratio of 17.51, a P/E/G ratio of 5.12 and a beta of 0.62.

Taubman Centers (NYSE:TCO) last announced its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.83 EPS for the quarter, missing the Zacks’ 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 business had revenue of $153.20 million for the quarter, compared to analyst estimates of $155.95 million. During the same quarter in the previous year, the business posted $0.94 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. research analysts expect that Taubman Centers, Inc. will post 3.71 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.625 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.50 dividend on an annualized basis and a yield of 3.94%. Taubman Centers’s payout ratio is presently 238.10%.

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

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