Last $76.17 USD
Change Today +0.27 / 0.36%
Volume 186.3K
TCO On Other Exchanges
Symbol
Exchange
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As of 4:15 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

taubman centers inc (TCO) Snapshot

Open
$76.16
Previous Close
$75.90
Day High
$76.32
Day Low
$75.80
52 Week High
07/23/14 - $77.40
52 Week Low
12/20/13 - $61.43
Market Cap
4.8B
Average Volume 10 Days
241.6K
EPS TTM
$7.07
Shares Outstanding
63.3M
EX-Date
06/12/14
P/E TM
10.8x
Dividend
$2.16
Dividend Yield
2.73%
Current Stock Chart for TAUBMAN CENTERS INC (TCO)

taubman centers inc (TCO) Related Businessweek News

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taubman centers inc (TCO) Details

Taubman Centers, Inc. operates as a real estate investment trust. As of June 30, 2005, the company owned a 63% managing general partner’s interest in The Taubman Realty Group Limited Partnership (the operating partnership). The operating partnership engages in the ownership, management, leasing, acquisition, development, and expansion of regional retail shopping centers and interests therein. As of August 23, 2007, it owned and/or managed 23 urban and suburban shopping centers in 11 states the United States. These centers are located in metropolitan areas, including New York City, Los Angeles, San Francisco, Denver, Detroit, Phoenix, Miami, Dallas, Tampa, Orlando, and Washington, D.C. The operating partnership also owns certain regional retail shopping center development projects, as well as approximately 99% of The Taubman Company LLC, which manages the shopping centers and provides other services to the operating partnership and to the company. Taubman Centers qualifies as a REIT under the Internal Revenue Code. As a REIT, the company would not be subjected to federal income tax to the extent it distributes at least 90% of its taxable income to its shareholders. Taubman Centers was founded in 1950 by A. Alfred Taubman and is headquartered in Bloomfield Hills, Michigan.

708 Employees
Last Reported Date: 02/26/14
Founded in 1950

taubman centers inc (TCO) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $875.5K
Vice Chairman, Chief Financial Officer, Chief...
Total Annual Compensation: $616.0K
Chief Operating Officer and Director
Total Annual Compensation: $586.7K
President of Taubman Asia Management Limited
Total Annual Compensation: $1.3M
Senior Vice President of Leasing - Taubman Co...
Total Annual Compensation: $411.1K
Compensation as of Fiscal Year 2013.

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.

 

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TCO Competitors

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Industry Analysis

TCO

Industry Average

Valuation TCO Industry Range
Price/Earnings 10.8x
Price/Sales 6.4x
Price/Book 23.2x
Price/Cash Flow 7.6x
TEV/Sales 3.5x
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