Taubman Centers (TCO) is Upgraded by Goldman to Buy

Taubman Centers (TCO) was Upgraded by Goldman to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Goldman advised their investors in a research report released on Sep 28, 2016.

On the company’s financial health, Taubman Centers reported $1.04 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $1.06. The company had revenue of $158.90 million for the quarter, compared to analysts expectations of $143.39 million. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS.

Taubman Centers closed down -1.47 points or -1.91% at $75.5 with 3,61,045 shares getting traded on Tuesday. Post opening the session at $77.14, the shares hit an intraday low of $75.38 and an intraday high of $78.63 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 6, 2016, David A. Wolff (CAO) sold 794 shares at $70.06 per share price. According to the SEC, on Mar 22, 2016, Robert S Taubman (CEO) purchased 2,240 shares at $70.18 per share price. On Feb 22, 2016, William S Taubman (Chief Operating Officer) sold 34,876 shares at $68.13 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 Company’s 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.

Taubman Centers

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