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42.99
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At close: September 19 4:00PM
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TCO Latest News

Taubman Centers, Inc. Provides Notice of Redemption of 6.5% Series J Cumulative Redeemable Preferred Stock & of 6.25% Series ...

Taubman Centers, Inc. (the “Company”; NYSE: TCO) announced that, effective today, it has provided notice to redeem on January 28, 2021, (the “Redemption Date”) all of the outstanding shares of...

Taubman Centers Shareholders Approve Merger with Simon Property Group

Taubman Centers, Inc. (NYSE: TCO) (the “Company”) announced that, at a special meeting of shareholders, its shareholders today approved and adopted the previously announced amended and restated...

Kinsale Capital Group Set to Join S&P MidCap 400; The Simply Good Foods Company to Join S&P SmallCap 600

Kinsale Capital Group Set to Join S&P MidCap 400; The Simply Good Foods Company to Join S&P SmallCap 600 PR Newswire NEW YORK, Dec. 21, 2020 NEW YORK, Dec. 21, 2020 /PRNewswire/...

Taubman Centers, Inc. Named GRESB Retail/Americas Sector Leader for Excellence in Sustainability

Company debuts new sustainability report outlining ESG commitment The 2020 Global Real Estate Sustainability Benchmark (GRESB) results are in and Taubman Centers, Inc. (NYSE: TCO) has been named...

Taubman Centers Declares Quarterly Preferred Dividends

The Board of Directors (the “Board”) of Taubman Centers, Inc. (the “Company or “Taubman””) (NYSE: TCO) today declared quarterly dividends of $0.40625 on its 6.5% Series J Cumulative Preferred...

Simon And Taubman Modify Merger Price To $43.00 Per Share In Cash

Simon And Taubman Modify Merger Price To $43.00 Per Share In Cash PR Newswire INDIANAPOLIS and BLOOMFIELD HILLS, Mich., Nov. 15, 2020 INDIANAPOLIS and BLOOMFIELD HILLS, Mich., Nov. 15, 2020...

Taubman Centers, Inc. Issues Third Quarter Results

- Earnings Impacted by COVID-19 Pandemic - All U.S. Properties and Nearly 94 Percent of Tenants Have Reopened - U.S. Total Mall Tenant Sales, Traffic and Tenant Revenue Collections Have...

Taubman Places ‘Community First’ this Holiday Season to Recognize & Thank Customers & Employees, While Helping Those in N...

Taubman Centers, Inc. (NYSE: TCO) has made its holiday list, and has checked it twice, ensuring it is focused on gratitude for customers and employees, and help for communities in need this...

Taubman Schedules Third Quarter Earnings Release

Taubman Centers, Inc. (NYSE: TCO) will announce its third quarter 2020 earnings after the market closes on November 9, 2020. The company will not host a conference call this quarter. About...

Taubman Asia and Shinsegae Group Celebrate the Opening of Starfield Anseong in South Korea Today

The largest mall in the southern region of Gyeonggi, Starfield Anseong offers 280 in-demand tenants, including a variety of fashion, entertainment and dining concepts The new Starfield Anseong...

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TCO Discussion

View Posts
MiamiGent MiamiGent 13 years ago
TCO Taubman qrtly earnings surpass Wall St forecast
PROVIDED BY Reuters - 6:35 PM 02/08/2012

* Q4 adjusted shr FFO 93 cents

* Wall St view Q4 adjusted shr FFO 85

* Sets FY FFO at shr $3.14 to $3.24

* Tenant sales up 14.2 pct

By Ilaina Jonas

Feb 8 (Reuters) - Taubman Centers Inc (TCO) said quarterly earnings fell but it easily beat Wall Street's forecast as sales at its luxury malls grew a 14.2 percent, and rents and occupancy rates rose, reflecting the purchasing power of richer Americans.

Taubman reported fourth-quarter adjusted funds from operations of $55.7 million, or 93 cents a share, down from $59.6 million, or $1.06 per share a year earlier when the company recorded receipt of a large lease cancellation fee that amounted to 15 cents per share.

Analysts expected 85 cents per share for the fourth quarter, according to Thomson Reuters I/B/E/S.

Funds from operations, or FFO, is an industry measure that usually removes profit and losses from property sales and depreciation.

Adjusted FFO excludes acquisitions and gains from early extinguishment of debt.

Sales at its luxury properties, which includes The Mall at Short Hills in New Jersey and Beverly Center in Los Angeles, rose to $641 per square foot, a company record.

For 2012, the Bloomfield Hills, Michigan-based company, said it sees FFO in the range of $3.14 per share to $3.24 per share, while analysts forecast $3.07 per share.

The forecast includes the results from City Creek Center in Salt Lake City, set to open in March, the first large U.S. mall to open in nearly three years.

(Reporting By Ilaina Jonas in New York; Editing by Tim Dobbyn)

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