Taubman Centers (TCO) has risen sharply, recording gains of 4.61% in the past 4 weeks. However, the stock has corrected -2.92% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.07% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Taubman Centers (NYSE:TCO): The stock opened at $78.88 on Friday but the bulls could not build on the opening and the stock topped out at $79.04 for the day. The stock traded down to $78.39 during the day, due to lack of any buying support eventually closed down at $78.56 with a loss of -0.29% for the day. The stock had closed at $78.79 on the previous day. The total traded volume was 160,173 shares.
The stock has recorded a 20-day Moving Average of 0.8% and the 50-Day Moving Average is 6.33%. Taubman Centers, Inc. is up 7.06% in the last 3-month period. Year-to-Date the stock performance stands at 2.4%.
Taubman Centers (TCO) : The highest level Taubman Centers (TCO) is projected to reach is $92 for the short term and the lowest estimate is at $73. The consolidated price target from 7 rating analysts who initiate coverage on the stock is $82.57 and the possibility the share price can swing is $6.55.
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 236,000 and 1.6 million square feet of gross leasable area (GLA) and between 186,000 and 671,000 square feet of Mall GLA with an average of 1 million and 0.5 million square feet, respectively.