Last $75.40 USD
Change Today -1.04 / -1.36%
Volume 202.5K
TCO On Other Exchanges
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As of 8:04 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

taubman centers inc (TCO) Key Developments

Taubman Centers, Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Year 2014

Taubman Centers, Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net income attributable to the company of $21,344,000 or $0.33 diluted per share compared to $17,842,000 or $0.28 basic and diluted per share a year ago. Funds from operations attributable to the company were $51,337,000 or $0.80 diluted per share compared to $48,750,000 or $0.75 diluted per share a year ago. Adjusted funds from operations attributable to the company were $55,513,000 or $0.86 diluted per share compared to $48,750,000 or $0.75 diluted per share a year ago. Total revenues were $169,985,000 compared to $178,187,000 a year ago. EBITDA was $86,501,000 compared to $93,236,000 a year ago. For the six months period, the company reported net income attributable to the company of $390,469,000 or $6.08 diluted per share compared to $45,586,000 or $0.71 diluted per share a year ago. Funds from operations attributable to the company were $109,373,000 or $1.70 diluted per share compared to $106,954,000 or $1.65 diluted per share a year ago. Adjusted funds from operations attributable to the company were $113,549,000 or $1.76 diluted per share compared to $106,954,000 or $1.65 diluted per share a year ago. Total revenues were $344,763,000 compared to $361,444,000 a year ago. EBITDA was $672,743,000 compared to $201,748,000 a year ago. The company's adjusted FFO and EPS guidance excludes the impact of the company's sale of seven assets, which is expected to close in the fourth quarter. The company expects its 2014 adjusted FFO to be in the range of $3.72 to $3.82 per diluted share, unchanged from the company's previous FFO guidance. 2014 EPS is expected to be in the range of $7.33 to $7.48. 2014 EPS includes $5.30 per share gains from the first quarter 2014 sales of the company's 50% interest in Arizona Mills, land in Syosset, New York, and a 49.9% interest in International Plaza.

Starwood Capital Group, Taubman Centers, Inc. - M&A Call

To discuss definitive agreement whereby Starwood has agreed to purchase a portfolio consisting of seven Taubman malls

Taubman Centers Mulls Acquisitions

Taubman Centers, Inc. (NYSE:TCO) is looking for acquisitions. Cash and amounts available under the revolving lines of credit may be used by Taubman Centers, Inc. in the future to repay other outstanding debt, to fund development activity, property acquisitions, to repurchase equity, to fund dividends or a special dividend, and for working capital and other corporate purposes.

Taubman Centers, Inc. to Report Q2, 2014 Results on Jul 30, 2014

Taubman Centers, Inc. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 30, 2014

Taubman Centers, Inc., Q2 2014 Earnings Call, Jul 31, 2014

Taubman Centers, Inc., Q2 2014 Earnings Call, Jul 31, 2014

 

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