Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Taubman Centers, Inc. (NYSE:TCO) by 10.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,113 shares of the real estate investment trust’s stock after acquiring an additional 3,149 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Taubman Centers worth $1,596,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TCO. Creative Planning raised its holdings in Taubman Centers by 8.0% during the second quarter. Creative Planning now owns 2,790 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 206 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in Taubman Centers during the second quarter worth $227,000. Riverhead Capital Management LLC raised its holdings in Taubman Centers by 83.2% during the second quarter. Riverhead Capital Management LLC now owns 4,397 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 1,997 shares during the last quarter. Shelton Capital Management acquired a new position in Taubman Centers during the second quarter worth $269,000. Finally, World Asset Management Inc raised its holdings in Taubman Centers by 1.4% during the second quarter. World Asset Management Inc now owns 4,917 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 69 shares during the last quarter.

Several research analysts have weighed in on TCO shares. BidaskClub downgraded shares of Taubman Centers from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BMO Capital Markets started coverage on shares of Taubman Centers in a report on Monday, September 11th. They set an “underperform” rating on the stock. Morgan Stanley downgraded shares of Taubman Centers from an “equal weight” rating to an “underweight” rating in a report on Monday, September 18th. Finally, Jefferies Group restated a “hold” rating and set a $57.00 price objective on shares of Taubman Centers in a report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Taubman Centers currently has a consensus rating of “Hold” and an average target price of $67.14.

Shares of Taubman Centers, Inc. (TCO) traded up $0.20 during mid-day trading on Friday, hitting $58.89. 856,047 shares of the stock traded hands, compared to its average volume of 1,701,882. The stock has a market capitalization of $3,575.39, a P/E ratio of 16.27, a P/E/G ratio of 4.83 and a beta of 0.60. The company has a debt-to-equity ratio of -21.77, a quick ratio of 0.35 and a current ratio of 0.35. Taubman Centers, Inc. has a 52 week low of $44.78 and a 52 week high of $76.79.

Taubman Centers (NYSE:TCO) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.06). The firm had revenue of $153.20 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. equities research analysts predict that Taubman Centers, Inc. will post 3.71 earnings per share for the current year.

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Taubman Centers Profile

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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