Arrow Capital Management Exits Position in Taubman Centers (TCO)

Taubman Centers (TCO) : Arrow Capital Management has sold out all of its stake in Taubman Centers during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 25,000 shares of Taubman Centers which is valued at $1,967,750.

Other Hedge Funds, Including , Squarepoint Ops added TCO to its portfolio by purchasing 15,688 company shares during the most recent quarter which is valued at $1,234,802. Taubman Centers makes up approx 0.09% of Squarepoint Ops’s portfolio.Kempen Capital Management N.v. boosted its stake in TCO in the latest quarter, The investment management firm added 8,982 additional shares and now holds a total of 37,601 shares of Taubman Centers which is valued at $2,959,575. Taubman Centers makes up approx 0.33% of Kempen Capital Management N.v.’s portfolio. Globeflex Capital L P added TCO to its portfolio by purchasing 25,590 company shares during the most recent quarter which is valued at $2,014,189. Taubman Centers makes up approx 0.52% of Globeflex Capital L P’s portfolio.American Assets Capital Advisers boosted its stake in TCO in the latest quarter, The investment management firm added 29,785 additional shares and now holds a total of 73,151 shares of Taubman Centers which is valued at $5,757,715. Taubman Centers makes up approx 3.61% of American Assets Capital Advisers’s portfolio.Neuberger Berman Group reduced its stake in TCO by selling 6,107 shares or 3.11% in the most recent quarter. The Hedge Fund company now holds 190,406 shares of TCO which is valued at $14,958,295. Taubman Centers makes up approx 0.02% of Neuberger Berman Group’s portfolio.

Taubman Centers opened for trading at $77.69 and hit $78.135 on the upside on Thursday, eventually ending the session at $77.8, with a gain of 0.17% or 0.13 points. The heightened volatility saw the trading volume jump to 3,10,796 shares. Company has a market cap of $4,699 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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