Taubman Centers (TCO) reported quarterly earnings results on Monday, May-2-2016. The company reported $0.84 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.85. The company posted revenue of $139.46 million in the period, 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 opened for trading at $69.69 and hit $70.05 on the upside on Wednesday, eventually ending the session at $69.94, with a gain of 0.19% or 0.13 points. The heightened volatility saw the trading volume jump to 2,74,961 shares. Company has a market cap of $4,213 M.
In a different news, on Mar 22, 2016, Robert S Taubman (CEO) purchased 2,240 shares at $70.18 per share price. According to the SEC, on Feb 22, 2016, William S Taubman (Chief Operating Officer) sold 34,876 shares at $68.13 per share price. On Jan 4, 2016, Lisa A Payne (director) sold 1,250 shares at $76.03 per share price, according to the Form-4 filing with the securities and exchange commission.
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.