Last €74.01 EUR
Change Today -1.02 / -1.36%
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As of 1:49 PM 01/26/15 All times are local (Market data is delayed by at least 15 minutes).

taubman centers inc (TU8) Snapshot

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01/23/15 - €75.03
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01/28/14 - €43.04
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taubman centers inc (TU8) 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 (TU8) Top Compensated Officers

Chief Executive Officer, President, Chairman,...
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 (TU8) Key Developments

Taubman Centers, Inc. and The Taubman Company LLC Announce Executive Changes

On December 11, 2014, Esther R. Blum, Senior Vice President, the Controller, and Chief Accounting Officer of Taubman Centers, Inc. (the company) and The Taubman Company, LLC (the Manager), notified the Company of her retirement effective March 13, 2015. Effective March 9, 2015, David A. Wolff will be appointed as the Chief Accounting Officer of the company and the Manager. Mr. Wolff, age 45, currently is Vice President, Financial Reporting of the Manager, a position he has held since March 2012.

Taubman Centers, Inc. Declares Regular Common and Preferred Dividends and Special Cash Dividend, Payable on December 31, 2014

The Board of Directors of Taubman Centers, Inc. declared a regular quarterly dividend of $0.54 per share of common stock. The common dividend is payable December 31, 2014, to shareholders of record on December 15, 2014. The Board of Directors also declared a special cash dividend of $4.75 per common share payable on December 31, 2014, to shareholders of record on December 15, 2014. 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 December 31, 2014, to shareholders of record on December 15, 2014.

Taubman Centers, Inc. Announces Expansion Plans

Taubman Centers, Inc. announced that in china, Xi’an will be the company's first center to open and is scheduled for late 2015. In Zhengzhou, the company now expects to open in spring 2016. In both Xi’an and Zhengzhou, of the roughly 1 million square feet of total center space, between 35% and 45% will be leased to a combination of Wangfujing, the company's department store anchor, and a large cinema. In both cases, the department store anchor and cinemas will be paying market rents. Another significant component of the center is roughly 20% to 25% of the total space and about 1/3 of the mall tenant area will be restaurants and fast food. This is about 3x the amount of space the company allocate to food in the U.S. Demand in the food categories has been very strong. The remaining roughly 40% of the space in both centers will be a mix of all other categories, including a focus on modern fashion which will include local and well-known international large format fast fashion retailers.


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