Aew Capital Management L P Lowers stake in Taubman Centers (TCO)

Taubman Centers (TCO) : Aew Capital Management L P reduced its stake in Taubman Centers by 1.63% during the most recent quarter end. The investment management company now holds a total of 1,471,919 shares of Taubman Centers which is valued at $115,854,744 after selling 24,400 shares in Taubman Centers , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Taubman Centers makes up approximately 2.29% of Aew Capital Management L P’s portfolio.

Other Hedge Funds, Including , United Services Automobile Association sold out all of its stake in TCO during the most recent quarter. The investment firm sold 20,600 shares of TCO which is valued $1,621,426.Teacher Retirement System Of Texas boosted its stake in TCO in the latest quarter, The investment management firm added 8,785 additional shares and now holds a total of 77,323 shares of Taubman Centers which is valued at $6,112,383. Taubman Centers makes up approx 0.04% of Teacher Retirement System Of Texas’s portfolio. Exane Derivatives added TCO to its portfolio by purchasing 5,515 company shares during the most recent quarter which is valued at $438,718. Taubman Centers makes up approx 0.07% of Exane Derivatives’s portfolio.

Taubman Centers opened for trading at $79.1 and hit $79.1 on the upside on Tuesday, eventually ending the session at $78.67, with a gain of 0.27% or 0.21 points. The heightened volatility saw the trading volume jump to 1,59,017 shares. Company has a market cap of $4,751 M.

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 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.

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