Green Street Investors LLC boosted its stake in Taubman Centers, Inc. (NYSE:TCO) by 177.4% during the third quarter, Holdings Channel.com reports. The fund owned 145,100 shares of the real estate investment trust’s stock after purchasing an additional 92,800 shares during the quarter. Taubman Centers comprises 3.5% of Green Street Investors LLC’s investment portfolio, making the stock its 13th biggest position. Green Street Investors LLC’s holdings in Taubman Centers were worth $5,924,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Machina Capital S.A.S. acquired a new stake in Taubman Centers in the 2nd quarter valued at $25,000. DekaBank Deutsche Girozentrale acquired a new stake in Taubman Centers in the 2nd quarter valued at $34,000. Marshall Wace North America L.P. acquired a new stake in Taubman Centers in the 1st quarter valued at $37,000. Quadrant Capital Group LLC grew its stake in Taubman Centers by 346.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,979 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 1,536 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new stake in Taubman Centers in the 2nd quarter valued at $86,000. 99.60% of the stock is currently owned by hedge funds and other institutional investors.
TCO traded down $0.57 on Friday, hitting $35.19. 592,840 shares of the company’s stock were exchanged, compared to its average volume of 477,357. Taubman Centers, Inc. has a fifty-two week low of $35.06 and a fifty-two week high of $56.03. The firm has a 50-day moving average price of $38.20 and a 200-day moving average price of $42.10. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 2.52 and a beta of 0.68.
Several equities research analysts have issued reports on TCO shares. Sandler O’Neill cut shares of Taubman Centers from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. ValuEngine raised shares of Taubman Centers from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. cut shares of Taubman Centers from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $51.00 to $42.00 in a research note on Tuesday, October 8th. Citigroup lowered their target price on shares of Taubman Centers from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Finally, Mizuho set a $43.00 target price on shares of Taubman Centers and gave the stock a “hold” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $50.50.
Taubman Centers Company Profile
Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia and one under development. Taubman's U.S.-owned properties are the most productive in the publicly held U.S.
Featured Article: Systematic Risk
Want to see what other hedge funds are holding TCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Taubman Centers, Inc. (NYSE:TCO).
Receive News & Ratings for Taubman Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taubman Centers and related companies with MarketBeat.com's FREE daily email newsletter.