Taubman Centers, Inc.

Symbol: TCO
CIK: 890319
Exchange: NYSE
Founded: 1950 (69 years)
HQ: Bloomfield Hills, MI, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Retail

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Overall Score: 6.1

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REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


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Hightlights of Trading Day November 19, 2019


Open Price: $34.71
Closing Price: $33.75
Price Change: -1.03 (-2.961%)
Lowest Price: $33.75
Highest Price: $34.71

52-Week Low: $33.75
52-Week High: $54.50
52-Week Change: -33.78%

5 Day Price Change: -0.09%
1 Month Price Change: -7.94%
3 Month Price Change: -13.83%
6 Month Price Change: -28.92%
YTD Price Change: -22.45%
1 Year Price Change: -33.78%
2 Year Price Change: -36.37%
5 Year Price Change: -54.00%

Dividend of Trading Day November 19, 2019


Dividend Yield: 8%*
Annualized Dividend: $2.7*
Dividend Yield (TTM): 7.706%
Annualized Dividend (TTM): $2.68
Ex Dividend Date: 2019-09-13
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes.

Latest News Headlines


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Funds From Operations (FFO)


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Key Stats of Trading Day November 19, 2019


Total Cash: $142,929,000
Current Debt: $195,998,000
Revenue: $486,870,000
Gross Profit: $215,993,000
Total Revenue: $486,870,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $205,761,000
Revenue Per Share: $8
Revenue Per Employee: $1,081,933
Employee: 450
Debt to Equity Ratio (D/E): -41.24
Profit Margin: 0.17%
Enterprise Value (EV): $5,836,088,000
Enterprise Value to Revenue (EV/R): 11.99
Price to Sales (P/S): 4.41
Price to Book (P/B): -23.14
Peg Ratio: -0.05
P/E Ratio: -47.08
P/E High: 14.05
P/E Low: 8.89
Forward P/E Ratio: 21.80
Market Capitalization: $2,066,175,000
Beta: 0.74
Latest Volume: 653,293.00
Avg. Total Volume: 506,169
Avg. 10 Volume: 437,989.30
Avg. 30 Volume: 506,169.03
TTM EPS: -0.72
TTM Dividend Rate: 2.68
Shares Outstanding: 61,220,000
Float: 59,346,545.56
50-Day Moving Avg.: 38.37
200-Day Moving Avg.: 44.42

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Properties Owned by TCO


Properties owned:
26
Types:
1
States:
13
Countries:
3
Sample of REIT’s Properties (Image Source - REIT’s website) | See more pictures
TCO Sample Property
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Occupancy Rate


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Dividend History


Below are the most recent cash dividends paid by TCO, and the Ex-Dividend Date of the dividend. The percent difference from one dividend payment to the next has also been calculated for your convenience.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date

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Financial Statements Overview

Balance Sheet (Quarterly)

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Amounts in USD ($)

Balance Sheet 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Current Cash 63,234,000 73,711,000 135,445,000 142,929,000
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 0 0 0 0
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 825,138,000 763,147,000 691,221,000 732,475,000
Property, Plant & Equipment Net 174,633,000 175,521,000 0 0
Goodwill 0 0 0 0
Intangible Assets 0 0 0 48,052,000
Other Assets 87,911,000 89,600,000 256,710,000 21,845,000
Net Tangible Assets 56,930,000 -107,279,000 -116,731,000 -148,502,000
Total Assets 4,536,852,000 4,485,098,000 4,451,394,000 4,344,106,000
Accounts Payable 0 0 0 0
Liabilities (Other) 750,610,000 755,068,000 936,746,000 814,008,000
Current Liabilities (Other) 481,315,000 485,048,000 483,343,000 477,800,000
Total Current Liabilities 0 0 0 0
Current Long-term Debt 150,000,000 150,000,000 150,000,000 195,998,000
Long-term Debt 3,725,231,000 3,903,982,000 3,696,501,000 3,634,197,000
Total Liabilities 4,625,841,000 4,809,050,000 4,783,247,000 4,644,203,000
Minority Interest 94,648,000 4,240,000 8,230,000 3,475,000
Common Stock 61,213,170 612,000 612,000 611,000
Retained Earnings -637,055,000 -802,809,000 -767,622,000 -744,230,000
Treasury Stock 0 0 0 0
Capital Surplus 740,314,000 739,046,000 677,755,000 676,097,000
Shareholder Equity 56,930,000 -107,279,000 -116,731,000 -92,873,000

Income Statement (Quarterly)

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Amounts in USD ($)

Income Statement 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Total Revenue 162,106,000 160,330,000 161,046,000 168,417,000
Cost of Revenue 110,283,000 107,164,000 103,250,000 122,475,000
Gross Profit 51,823,000 53,166,000 57,796,000 45,942,000
Research and Development 0 0 0 0
Selling General and Admin 0 0 0 0
Operating Expense 119,915,000 115,718,000 111,826,000 134,104,000
Operating Income 42,191,000 44,612,000 49,220,000 33,013,000
Income Expense Net (Other) -27,738,000 -40,193,000 -33,615,000 -38,246,000
EBIT 42,191,000 44,612,000 49,220,000 33,013,000
Interest Income 37,295,000 37,938,000 37,723,000 36,883,000
Pretax Income 14,453,000 4,419,000 15,605,000 -5,233,000
Income Tax 2,021,000 2,364,000 539,000 553,000
Minority Interest 94,648,000 4,240,000 8,230,000 3,475,000
Net Income -62,561,000 12,044,000 20,881,000 8,864,000
Net Income Basic -68,345,000 6,259,000 15,097,000 3,079,000

Cash Flow

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Amounts in USD ($)

Cash Flow 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Net Income -62,561,000 12,044,000 20,881,000 8,864,000
Depreciation 47,849,000 44,259,000 44,956,000 -100,183,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change -10,477,000 -61,734,000 -7,484,000 9,638,000
Cash Flow 74,794,000 95,424,000 51,586,000 82,639,000
Capital Expenditures 0 0 0 -289,854,000
Investments -87,753,000 -54,930,000 -11,829,000 152,492,000
Investing Activity (Other) 0 0 0 92,072,000
Total Investing Cash Flows 168,015,000 -53,959,000 -11,806,000 -45,268,000
Dividends Paid -47,103,000 -47,080,000 -47,067,000 -45,782,000
Net Borrowings -179,069,000 -34,665,000 15,604,000 36,121,000
Cash Flow Financing -251,258,000 -100,970,000 -49,865,000 -27,303,000
Financing Cash Flows (Other) -25,086,000 -19,100,000 -17,821,000 -17,552,000
Exchange Rate Effect -2,028,000 -2,229,000 2,601,000 -430,000

About Taubman Centers, Inc.


Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
8 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 5.3
8 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.5
10 Dividend to AFFO Payout Ratio Health: Analysis of the REIT’s Dividend to AFFO Payout Ratios during the last four quarters. 8.9
10 Dividend to AFFO Payout Ratio Trend: Analysis of the REIT’s Dividend to AFFO Payout Ratios trend during the last two years. 7.8
Rating AFFO & Efficiency Section Avg. Rating
7 AFFO Trend: Analysis of the REIT’s AFFO trend during the last two years. 8.7
7 AFFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.7
5 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 7.1
6 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 8.0
Rating Leverage Section Avg. Rating
1 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 5.0
0 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 5.7
9 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.8
6 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 7.4
0 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.1
3 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.9
Rating Asset & Revenue Section Avg. Rating
6 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.8
7 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.3
Rating Properties Section Avg. Rating
8 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 8.3
9 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 8.2
8 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
6.1 Overall REITRating™ Score 6.5

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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