Taubman Centers (TCO) : Meag Munich Ergo Assetmanagement Gmbh scooped up 14,000 additional shares in Taubman Centers during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 209,000 shares of Taubman Centers which is valued at $14,673,890.Taubman Centers makes up approximately 8.48% of Meag Munich Ergo Assetmanagement Gmbh’s portfolio.
Other Hedge Funds, Including , Ibm Retirement Fund reduced its stake in TCO by selling 8,109 shares or 56.77% in the most recent quarter. The Hedge Fund company now holds 6,174 shares of TCO which is valued at $433,477. Taubman Centers makes up approx 0.02% of Ibm Retirement Fund’s portfolio.Tiaa Cref Investment Management boosted its stake in TCO in the latest quarter, The investment management firm added 274,985 additional shares and now holds a total of 369,490 shares of Taubman Centers which is valued at $27,113,176. Taubman Centers makes up approx 0.02% of Tiaa Cref Investment Management’s portfolio.Diam Ltd. reduced its stake in TCO by selling 820 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 138,670 shares of TCO which is valued at $10,175,605. Taubman Centers makes up approx 0.15% of Diam Ltd.’s portfolio. Wesley Capital Management sold out all of its stake in TCO during the most recent quarter. The investment firm sold 18,000 shares of TCO which is valued $1,320,840.Cadence Capital Management boosted its stake in TCO in the latest quarter, The investment management firm added 148 additional shares and now holds a total of 5,481 shares of Taubman Centers which is valued at $402,196. Taubman Centers makes up approx 0.03% of Cadence Capital Management’s portfolio.
Taubman Centers closed down -1.3 points or -1.82% at $70.21 with 5,76,355 shares getting traded on Friday. Post opening the session at $70.88, the shares hit an intraday low of $69.79 and an intraday high of $71.55 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
On the company’s financial health, Taubman Centers reported $0.84 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $0.85. The company had revenue of $139.46 million for the quarter, compared to analysts expectations of $137.80 million. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS.
Many Wall Street Analysts have commented on Taubman Centers. Mizuho Initiated Taubman Centers on Apr 14, 2016 to “Buy”, Price Target of the shares are set at $86.Taubman Centers was Upgraded by Jefferies to ” Hold” on Feb 29, 2016.
Taubman Centers Inc. is a self-administered and self-managed real estate investment trust (REIT). 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. The Company owns leases acquires disposes of develops expands and manages regional and super-regional shopping centers and interests therein. The Companys portfolio of operating centers as of December 31 2014 consisted of 18 urban and suburban shopping centers in 10 states. The centers are located in metropolitan areas including Denver Detroit Los Angeles Miami Nashville New York City Orlando Salt Lake City San Francisco Sarasota Saint Louis Tampa and Washington D.C. The centers range in size between 236000 and 1.6 million square feet of gross leasable area (GLA) and between 186000 and 671000 square feet of Mall GLA with an average of 1 million and 0.5 million square feet respectively.