What’s Ahead for Taubman Centers Inc (NYSE:TCO) After Less Shorted Shares?

September 30, 2018 - By Carolyn Hewitt

Taubman Centers, Inc. (NYSE:TCO) Logo

Investors sentiment decreased to 1.19 in Q2 2018. Its down 0.25, from 1.44 in 2018Q1. It fall, as 23 investors sold Taubman Centers, Inc. shares while 71 reduced holdings. 31 funds opened positions while 81 raised stakes. 56.03 million shares or 7.20% less from 60.38 million shares in 2018Q1 were reported.
9,451 were reported by Eaton Vance Mgmt. Wolverine Asset Management Ltd Limited Liability Company owns 15,289 shares. Oregon Employees Retirement Fund invested in 0.02% or 23,834 shares. Deprince Race & Zollo owns 306,355 shares for 0.42% of their portfolio. Mason Street Advsrs Llc has invested 0.04% in Taubman Centers, Inc. (NYSE:TCO). Sumitomo Mitsui Trust Hldg Incorporated invested in 0% or 62,531 shares. Manufacturers Life Insurance The owns 0.01% invested in Taubman Centers, Inc. (NYSE:TCO) for 99,248 shares. Citadel Advsrs Ltd, Illinois-based fund reported 72,172 shares. Parametric Port Associates Lc, Washington-based fund reported 139,025 shares. 52,927 are owned by Royal Commercial Bank Of Canada. Schwab Charles Investment Management Inc stated it has 889,480 shares or 0.04% of all its holdings. Retirement Systems Of Alabama accumulated 161,578 shares or 0.05% of the stock. Aqr Mgmt Lc invested 0% in Taubman Centers, Inc. (NYSE:TCO). Arizona State Retirement Systems holds 42,345 shares or 0.03% of its portfolio. The Connecticut-based Verition Fund Mngmt Ltd Liability has invested 0.03% in Taubman Centers, Inc. (NYSE:TCO).

The stock of Taubman Centers Inc (NYSE:TCO) registered a decrease of 2.12% in short interest. TCO’s total short interest was 2.72 million shares in September as published by FINRA. Its down 2.12% from 2.78M shares, reported previously. With 349,800 shares average volume, it will take short sellers 8 days to cover their TCO’s short positions. The short interest to Taubman Centers Inc’s float is 4.6%.

The stock increased 2.62% or $1.53 during the last trading session, reaching $59.83. About 608,995 shares traded or 27.33% up from the average. Taubman Centers, Inc. (NYSE:TCO) has risen 20.02% since September 30, 2017 and is uptrending. It has outperformed by 4.40% the S&P500.

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia. The company has market cap of $5.14 billion. Taubman??s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. It has a 62.39 P/E ratio. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich.

Taubman Centers, Inc. (NYSE:TCO) Ratings Coverage

Among 7 analysts covering Taubman Centers (NYSE:TCO), 2 have Buy rating, 2 Sell and 3 Hold. Therefore 29% are positive. Taubman Centers had 7 analyst reports since April 26, 2018 according to SRatingsIntel. The stock has “Underperform” rating by Evercore on Monday, September 10. The rating was maintained by Bank of America with “Neutral” on Monday, August 13. Morgan Stanley maintained Taubman Centers, Inc. (NYSE:TCO) on Thursday, June 14 with “Underweight” rating. The rating was upgraded by JP Morgan to “Overweight” on Friday, June 15. The rating was upgraded by J.P. Morgan on Friday, June 15 to “Buy”. On Thursday, August 9 the stock rating was maintained by Citigroup with “Neutral”.

More news for Taubman Centers, Inc. (NYSE:TCO) were recently published by: Seekingalpha.com, which released: “Taubman Centers Has No Margin Of Safety” on September 17, 2018. Nasdaq.com‘s article titled: “Investor Expectations to Drive Momentum within PulteGroup, Taubman Centers, Hilton Worldwide, Nordstrom …” and published on September 28, 2018 is yet another important article.

Taubman Centers, Inc. (NYSE:TCO) Institutional Positions Chart

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