Taubman Centers (NYSE:TCO)‘s stock had its “hold” rating restated by research analysts at Jefferies Financial Group in a note issued to investors on Wednesday. They presently have a $63.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s price target would indicate a potential downside of 0.46% from the stock’s current price. Jefferies Financial Group also issued estimates for Taubman Centers’ Q3 2018 earnings at $0.87 EPS, FY2018 earnings at $3.83 EPS and FY2019 earnings at $3.87 EPS.

TCO has been the subject of a number of other reports. ValuEngine upgraded shares of Taubman Centers from a “strong sell” rating to a “sell” rating in a research report on Friday, June 1st. Morgan Stanley lowered their price objective on shares of Taubman Centers from $56.00 to $51.50 and set an “underweight” rating for the company in a research report on Thursday, June 14th. Citigroup boosted their price objective on shares of Taubman Centers from $61.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, August 9th. Bank of America boosted their price objective on shares of Taubman Centers from $60.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, August 13th. Finally, Zacks Investment Research downgraded shares of Taubman Centers from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Taubman Centers currently has a consensus rating of “Hold” and an average target price of $61.44.

NYSE TCO opened at $63.29 on Wednesday. The company has a debt-to-equity ratio of -18.16, a current ratio of 0.39 and a quick ratio of 0.39. Taubman Centers has a 1-year low of $44.78 and a 1-year high of $66.61. The company has a market capitalization of $3.94 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 4.44 and a beta of 0.52.

Taubman Centers (NYSE:TCO) last released its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. Taubman Centers had a net margin of 11.95% and a negative return on equity of 41.96%. The company had revenue of $152.76 million during the quarter, compared to the consensus estimate of $151.94 million. During the same period in the previous year, the business earned $0.86 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. sell-side analysts anticipate that Taubman Centers will post 3.79 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in TCO. FDx Advisors Inc. raised its position in Taubman Centers by 25.1% during the first quarter. FDx Advisors Inc. now owns 5,970 shares of the real estate investment trust’s stock valued at $340,000 after purchasing an additional 1,199 shares in the last quarter. Wells Fargo & Company MN raised its position in Taubman Centers by 726.6% during the first quarter. Wells Fargo & Company MN now owns 613,561 shares of the real estate investment trust’s stock valued at $34,917,000 after purchasing an additional 539,331 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Taubman Centers by 13.2% during the first quarter. Daiwa Securities Group Inc. now owns 7,700 shares of the real estate investment trust’s stock valued at $438,000 after purchasing an additional 900 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Taubman Centers by 12.8% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,813 shares of the real estate investment trust’s stock worth $558,000 after buying an additional 1,113 shares during the last quarter. Finally, Alps Advisors Inc. grew its stake in shares of Taubman Centers by 151.8% during the first quarter. Alps Advisors Inc. now owns 8,917 shares of the real estate investment trust’s stock worth $507,000 after buying an additional 5,375 shares during the last quarter.

Taubman Centers Company Profile

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. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.

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Analyst Recommendations for Taubman Centers (NYSE:TCO)

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