Should Investors Be Buying Taubman Centers (NYSE:TCO) Stock Following Today’s JP Morgan Upgrade?

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Taubman Centers (NYSE:TCO) Stock Upgrade

Research analysts at the JP Morgan research division raised shares of Taubman Centers (NYSE:TCO) from a “Neutral” to a “Overweight” on Thursday, 17 December.

From a total of 13 analysts covering Taubman Centers Inc. (NYSE:TCO) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 9 a ”Hold”. This means that 40% of the ratings are positive. The highest target price is $95 while the lowest target price is $75. The mean of all analyst targets is $82.08 with a 10.97% above today’s ($75.47) stock price. Taubman Centers Inc. was the topic of 9 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Evercore downgraded shares on November 16 to “Hold” rating. Raymond James initiated TCO stock in a recent report from September 18 with “Mkt Perform” rating. Finally, Oppenheimer upgraded the stock to “Outperform” rating in a report issued on an August 24.

Approximately 56,030 shares of stock traded hands. Taubman Centers, Inc. (NYSE:TCO) has declined 1.73% since May 14, 2015 and is downtrending. It has outperformed by 0.54% the S&P500.

The overall sentiment of institutions has decreased to 0.76 in Q2 2015. Its down 0.11, from 0.87 in 2015Q2. The ratio worsened, as 27 institutions have sold all the shares of Taubman Centers, Inc. that they owned while 107 funds have taken shares off the table. 26 funds have purchased shares for the first time while 76 added to their positions. These institutions now hold 48.97 million shares or 19.69% less than the 60.98 million shares they owned in 2015Q2.

The Fund Long Pond Capital Lp currently is holding shares equating to 11.26% of its total portfolio in Taubman Centers, Inc. representing a total of 3.76 million shares. Another fund,V3 Capital Management L.P., is holding a total of 606,030 shares equating to 10.55% of their holdings. Additionally, Grs Advisors Llc has a 532,900 share stake in Taubman Centers, Inc. which represents 4.35% of their total portfolio. The Fund, Lasalle Investment Management Securities Llc, based out of Maryland, has also built up a stake in the stock, which represents a total of 2.68% of their total portfolio. Finally Independent Order Of Foresters, a fund which is based in the state of Ontario – Canada reported a total holdings of 44,048 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 11, 2015, shareholders of Taubman Centers, Inc. have witnessed 0 buys, and a total of 2 insider sales equating to a net activity of approximately $375,000 . Payne Lisa A sold 2,500 shares worth approximately $187,500. Hatkoff Craig M sold 2,700 shares worth approximately $204,615. Taubman Robert S bought 7,100 shares worth approximately $558,122. Taubman William S bought 12,100 shares worth approximately $936,735.

Taubman Centers, Inc. is a self-administered and self-managed real estate investment trust . The company has a market cap of $4.52 billion. 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. It currently has negative earnings. The Firm owns, leases, acquires, disposes of, develops, expands and manages regional and super-regional shopping centers and interests therein.

According to Zacks Investment Research, “TAUBMAN CENTERS, INC., a real estate investment trust, is the managing general partner of, and owns an interest in, The Taubman Realty Group Limited Partnership (TRG). TRG is an operating partnership that engages in the ownership, operation, management, leasing, acquisition, development, redevelopment, expansion, financing and refinancing of regional retail shopping centers and interest therein.”

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