Taubman Centers (NYSE:TCO) had its price target hoisted by Morgan Stanley from $29.50 to $52.50 in a research note published on Monday, BenzingaRatingsTable reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other research firms have also recently issued reports on TCO. ValuEngine cut Taubman Centers from a hold rating to a sell rating in a report on Monday. KeyCorp decreased their target price on Taubman Centers from $69.00 to $55.00 and set an overweight rating for the company in a research report on Tuesday, December 17th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised Taubman Centers from an underweight rating to a neutral rating in a research report on Monday. Citigroup decreased their target price on Taubman Centers from $41.00 to $33.00 and set a neutral rating for the company in a research report on Tuesday, December 10th. Finally, Cfra raised Taubman Centers from a sell rating to a hold rating and lifted their target price for the company from $32.00 to $53.00 in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $48.19.

TCO opened at $53.18 on Monday. The business has a fifty day moving average of $32.68 and a 200 day moving average of $36.00. Taubman Centers has a 52-week low of $26.24 and a 52-week high of $54.50. The stock has a market cap of $3.25 billion, a P/E ratio of 16.16, a PEG ratio of 3.46 and a beta of 0.72.

Taubman Centers (NYSE:TCO) last posted its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.76). Taubman Centers had a net margin of 33.47% and a negative return on equity of 87.50%. The business had revenue of $176.70 million for the quarter, compared to analysts’ expectations of $173.20 million. During the same quarter in the previous year, the firm earned $0.91 EPS. Taubman Centers’s revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Taubman Centers will post 3.72 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp raised its position in shares of Taubman Centers by 0.7% in the 3rd quarter. State Street Corp now owns 2,957,507 shares of the real estate investment trust’s stock worth $120,755,000 after acquiring an additional 20,506 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Taubman Centers by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 2,506,263 shares of the real estate investment trust’s stock worth $77,920,000 after acquiring an additional 78,242 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Taubman Centers by 5.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,005,688 shares of the real estate investment trust’s stock worth $31,267,000 after acquiring an additional 55,067 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Taubman Centers by 2.5% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 903,238 shares of the real estate investment trust’s stock worth $28,082,000 after acquiring an additional 22,350 shares in the last quarter. Finally, Heitman Real Estate Securities LLC raised its position in shares of Taubman Centers by 11.6% in the 4th quarter. Heitman Real Estate Securities LLC now owns 799,984 shares of the real estate investment trust’s stock worth $24,872,000 after acquiring an additional 82,880 shares in the last quarter. 99.60% of the stock is owned by institutional investors and hedge funds.

About Taubman Centers

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 and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.

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