Taubman Centers Target of Unusually Large Options Trading (TCO)
Taubman Centers, Inc. (NYSE:TCO) was the recipient of unusually large options trading on Tuesday. Investors bought 1,746 put options on the stock. This is an increase of approximately 1,012% compared to the average volume of 157 put options.
Several equities research analysts recently commented on the company. Mizuho reissued a “neutral” rating on shares of Taubman Centers in a report on Wednesday, November 8th. Boenning Scattergood restated a “hold” rating on shares of Taubman Centers in a research report on Friday, November 3rd. Zacks Investment Research lowered shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Jefferies Group LLC restated a “neutral” rating on shares of Taubman Centers in a research report on Friday, October 13th. Finally, J P Morgan Chase & Co lowered shares of Taubman Centers from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $64.00 to $57.00 in a research report on Tuesday, September 26th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Taubman Centers has an average rating of “Hold” and a consensus target price of $67.14.
Taubman Centers (NYSE:TCO) opened at $56.31 on Friday. The company has a debt-to-equity ratio of -21.77, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $3,490.00, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 4.51 and a beta of 0.52. Taubman Centers has a 12-month low of $44.78 and a 12-month high of $76.79.
Taubman Centers (NYSE:TCO) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.06). The business had revenue of $153.20 million during the quarter, compared to analyst estimates of $155.95 million. Taubman Centers had a negative return on equity of 75.87% and a net margin of 13.21%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 EPS. equities analysts forecast that Taubman Centers will post 3.72 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the business. Coronation Fund Managers Ltd. purchased a new position in Taubman Centers during the 2nd quarter worth approximately $14,422,000. Land & Buildings Investment Management LLC grew its position in Taubman Centers by 28.1% during the 2nd quarter. Land & Buildings Investment Management LLC now owns 920,447 shares of the real estate investment trust’s stock worth $54,813,000 after purchasing an additional 202,000 shares in the last quarter. JPMorgan Chase & Co. grew its position in Taubman Centers by 162.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,531 shares of the real estate investment trust’s stock worth $13,814,000 after purchasing an additional 169,730 shares in the last quarter. Sapience Investments LLC grew its position in Taubman Centers by 2,828.6% during the 2nd quarter. Sapience Investments LLC now owns 159,610 shares of the real estate investment trust’s stock worth $9,505,000 after purchasing an additional 154,160 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Taubman Centers by 21.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 739,620 shares of the real estate investment trust’s stock worth $36,760,000 after purchasing an additional 131,387 shares in the last quarter.
Taubman Centers Company 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.
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