Does Taubman Centers, Inc. (NYSE:TCO) represent a good buying opportunity at the moment? Let’s briefly check the hedge fund sentiment towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and throw away millions of dollars on research activities, so it is no wonder why they tend to generate millions in profits each year. It is also true that some hedge fund players fail unconceivably on some occasions, but their stock picks have been generating superior risk-adjusted returns on average over the years.
Taubman Centers, Inc. (NYSE:TCO) was in 26 hedge funds’ portfolios at the end of September. TCO investors should be aware of an increase in activity from the world’s largest hedge funds lately. There were 21 hedge funds in our database with TCO holdings at the end of the previous quarter. At the end of this article we will also compare TCO to other stocks including Douglas Emmett, Inc. (NYSE:DEI), Shell Midstream Partners LP (NYSE:SHLX), and FNFV Group (NYSE:FNFV) to get a better sense of its popularity.
Now, we’re going to check out the latest action surrounding Taubman Centers, Inc. (NYSE:TCO).
What have hedge funds been doing with Taubman Centers, Inc. (NYSE:TCO)?
At Q3’s end, a total of 26 of the hedge funds tracked by Insider Monkey were long this stock, a change of 24% from the second quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were increasing their stakes considerably (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Long Pond Capital, managed by John Khoury, holds the number one position in Taubman Centers, Inc. (NYSE:TCO). Long Pond Capital has a $259.5 million position in the stock, comprising 11.3% of its 13F portfolio. On Long Pond Capital’s heels is AEW Capital Management, led by Jeffrey Furber, holding a $93 million position; the fund has 2.2% of its 13F portfolio invested in the stock. Some other hedge funds and institutional investors that are bullish comprise Zach Schreiber’s Point State Capital, David Harding’s Winton Capital Management and Israel Englander’s Millennium Management.