Long Pond Capital Lp Lowers stake in Taubman Centers (TCO)

Taubman Centers (TCO) : Long Pond Capital Lp reduced its stake in Taubman Centers by 18.35% during the most recent quarter end. The investment management company now holds a total of 3,580,840 shares of Taubman Centers which is valued at $281,847,916 after selling 804,563 shares in Taubman Centers , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Taubman Centers makes up approximately 13.75% of Long Pond Capital Lp’s portfolio.

Other Hedge Funds, Including , Kennedy Capital Management added TCO to its portfolio by purchasing 355,866 company shares during the most recent quarter which is valued at $28,010,213. Taubman Centers makes up approx 0.54% of Kennedy Capital Management’s portfolio.State Of Wisconsin Investment Board reduced its stake in TCO by selling 5,000 shares or 11.6% in the most recent quarter. The Hedge Fund company now holds 38,110 shares of TCO which is valued at $2,999,638. Taubman Centers makes up approx 0.01% of State Of Wisconsin Investment Board’s portfolio. Tlp Group sold out all of its stake in TCO during the most recent quarter. The investment firm sold 8,800 shares of TCO which is valued $695,640. Presima added TCO to its portfolio by purchasing 28,000 company shares during the most recent quarter which is valued at $2,227,400. Taubman Centers makes up approx 0.34% of Presima’s portfolio.Parkwood reduced its stake in TCO by selling 1,034 shares or 14.74% in the most recent quarter. The Hedge Fund company now holds 5,983 shares of TCO which is valued at $467,691. Taubman Centers makes up approx 0.08% of Parkwood’s portfolio.

Taubman Centers opened for trading at $77.66 and hit $78.39 on the upside on Monday, eventually ending the session at $77.98, with a gain of 0.78% or 0.6 points. The heightened volatility saw the trading volume jump to 2,25,578 shares. Company has a market cap of $4,710 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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