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Last $70.62 USD
Change Today -0.32 / -0.45%
Volume 514.1K
TCO On Other Exchanges
Symbol
Exchange
Frankfurt
As of 8:04 PM 07/27/15 All times are local (Market data is delayed by at least 15 minutes).

taubman centers inc (TCO) Key Developments

Taubman Centers, Inc.(NYSE:TCO.PRJ) dropped from S&P Preferred Stock Index

Taubman Centers, Inc.(NYSE:TCO.PRJ) dropped from S&P Preferred Stock Index

Taubman Centers, Inc. Declares Common Stock and Preferred Shares Dividends Payable on June 30, 2015

The Board of Directors of Taubman Centers, Inc. declared a regular quarterly dividend of $0.565 per share of common stock. The common dividend is payable on June 30, 2015, to shareholders of record on June 15, 2015. The Board of Directors also declared quarterly dividends of $0.40625 on its 6.5% Series J Cumulative Preferred Shares and $0.390625 on its 6.25% Series K Cumulative Preferred Shares. The preferred dividends will be payable on June 30, 2015, to shareholders of record on June 15, 2015.

Taubman Centers, Inc. Reports Earnings and Operating Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Full Year of 2015

Taubman Centers, Inc. reported earnings and operating results for the first quarter ended March 31, 2015. For the quarter, the company reported net income of $51,000,000 against $526,157,000 a year ago. Net income attributable to company’s common shareowners was $29,622,000 or $0.47 per diluted share against $369,125,000 or $5.74 per diluted share a year ago. Funds from operations were $72,916,000 or $0.81 per diluted share against $81,223,000 or $0.90 per diluted share a year ago. Total revenue was $128,989,000 against $174,778,000 a year ago. EBITDA was $72,329,000 against $586,242,000 a year ago. For the quarter, comparable center NOI excluding lease cancellation income was up 3.7%. Including lease cancellation income, comparable center NOI growth was 5.3%. Average rent per square foot for the quarter was $60.12, up 4.2% from $57.71 in the comparable period last year. The company is adjusting its guidance for 2015 FFO per diluted share to $3.20 to $3.28 from the previous range of $3.18 to $3.28. This includes the impact of share repurchases through March 31, but excludes assumptions for future repurchases. This guidance also assumes comparable center NOI growth, excluding lease cancellation income, of 2.5% to 3% for the year, down from about 3%. This is due to lower than expected rent growth in the company's Consumer Price Index escalations in the majority of the company's tenant leases. 2015 EPS is expected to be in the range of $1.59 to $1.72.

Taubman Centers, Inc. Presents at REITWEEK 2015: NAREIT's Investor Forum, Jun-10-2015 10:15 AM

Taubman Centers, Inc. Presents at REITWEEK 2015: NAREIT's Investor Forum, Jun-10-2015 10:15 AM. Venue: New York Hilton Midtown, 1335 Avenue of the Americas, New York, NY 10019, United States. Speakers: Lisa A. Payne, Vice Chairman, Chief Financial Officer, Chief Administrative Officer Taubman Company LLC and Chief Financial Officer Taubman Company LLC, Robert S. Taubman, Chairman, Chief Executive Officer, President and Chairman of Executive Committee.

Taubman Centers, Inc. Names Michael Fenley as General Manager of New International Market Place in Waikiki

Taubman Centers, Inc. has named Michael Fenley as general manager of the new International Market Place currently under construction on Kalakaua Avenue in Waikiki, Hawaii. In this role, Fenley is responsible for operations, retailer and community relations and marketing for the center. A long-time Taubman executive, Fenley brings more than 30 years of experience to his new position. Most recently, he served as general manager of Sunvalley in the San Francisco Bay Area where he oversaw the multimillion-dollar renovation and remerchandising of the center. Prior to that, he served as general manager for six Taubman-owned super-regional shopping centers in Connecticut, Michigan, Nevada and California.

 

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