Advantus Capital Management Inc maintained its position in Taubman Centers, Inc. (NYSE:TCO) during the third quarter, Holdings Channel reports. The institutional investor owned 7,308 shares of the real estate investment trust’s stock at the end of the third quarter. Advantus Capital Management Inc’s holdings in Taubman Centers were worth $544,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Forward Management LLC raised its position in shares of Taubman Centers by 158.6% in the second quarter. Forward Management LLC now owns 349,100 shares of the real estate investment trust’s stock valued at $25,903,000 after buying an additional 214,100 shares during the period. Shinko Asset Management Co. Ltd. increased its stake in Taubman Centers by 12.3% in the third quarter. Shinko Asset Management Co. Ltd. now owns 1,572,123 shares of the real estate investment trust’s stock valued at $116,982,000 after buying an additional 171,894 shares in the last quarter. Land & Buildings Investment Management LLC purchased a new stake in Taubman Centers during the second quarter valued at approximately $10,470,000. Morgan Stanley increased its stake in Taubman Centers by 9.3% in the third quarter. Morgan Stanley now owns 1,353,837 shares of the real estate investment trust’s stock valued at $100,738,000 after buying an additional 115,744 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in Taubman Centers by 4.4% in the third quarter. BlackRock Fund Advisors now owns 2,524,458 shares of the real estate investment trust’s stock valued at $187,845,000 after buying an additional 106,502 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors.
Shares of Taubman Centers, Inc. (NYSE:TCO) traded down 0.82% during mid-day trading on Friday, reaching $70.24. The company had a trading volume of 448,139 shares. The firm has a 50 day moving average of $72.07 and a 200-day moving average of $74.14. Taubman Centers, Inc. has a one year low of $66.95 and a one year high of $81.68. The stock has a market capitalization of $4.24 billion, a P/E ratio of 41.03 and a beta of 0.57.
Taubman Centers (NYSE:TCO) last issued its quarterly earnings data on Thursday, February 9th. The real estate investment trust reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.61. Taubman Centers had a return on equity of 370.66% and a net margin of 18.19%. The company earned $166.19 million during the quarter, compared to analyst estimates of $160.88 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. Taubman Centers’s revenue was up 6.4% compared to the same quarter last year. Analysts forecast that Taubman Centers, Inc. will post $1.68 EPS for the current fiscal year.
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Several equities research analysts recently issued reports on TCO shares. TheStreet downgraded Taubman Centers from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Taubman Centers in a research report on Wednesday, October 26th. Oppenheimer Holdings, Inc. reissued an “outperform” rating on shares of Taubman Centers in a report on Tuesday, December 20th. Zacks Investment Research cut Taubman Centers from a “hold” rating to a “sell” rating in a report on Tuesday, January 3rd. Finally, Mizuho reissued a “buy” rating on shares of Taubman Centers in a report on Friday, December 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $81.38.
In related news, Director Craig M. Hatkoff sold 2,400 shares of Taubman Centers stock in a transaction on Thursday, December 22nd. The stock was sold at an average price of $72.78, for a total transaction of $174,672.00. Following the transaction, the director now directly owns 4,839 shares in the company, valued at $352,182.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 31.20% of the stock is currently owned by insiders.
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 (TRG) is a partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.
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