Citigroup Maintains Taubman Centers to Neutral with Price Target $79.00

Brokerage firm Citigroup Maintains its rating on Taubman Centers(NYSE:TCO). In a research note issued to the investors, the brokerage major Raises the price-target to $79.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Aug 5, 2016.

Taubman Centers (TCO) made into the market gainers list on Wednesdays trading session with the shares advancing 1.36% or 1.05 points. Due to strong positive momentum, the stock ended at $78.23, which is also near the day’s high of $78.28. The stock began the session at $77.05 and the volume stood at 3,87,923 shares. The 52-week high of the shares is $81.68 and the 52 week low is $63.32. The company has a current market capitalization of $4,725 M and it has 6,03,94,062 shares in outstanding.

Taubman Centers(TCO) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $158.89M. Analysts had an estimated revenue of $147.45M. Earnings per share were $1.04. Analysts had estimated an EPS of $0.99.

Several Insider Transactions has been reported to the SEC. On Jun 6, 2016, David A. Wolff (CAO) sold 794 shares at $70.06 per share price.Also, 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.

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