TCO - Taubman Centers, Inc.

NYSE - NYSE Delayed Price. Currency in USD
44.38
+1.67 (+3.91%)
At close: 4:02PM EDT

44.38 0.00 (0.00%)
After hours: 4:18PM EDT

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Commodity Channel Index

Commodity Channel Index

Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close42.71
Open44.17
Bid44.26 x 900
Ask47.02 x 1200
Day's Range43.36 - 44.78
52 Week Range26.24 - 54.49
Volume1,391,341
Avg. Volume3,362,542
Market Cap2.718B
Beta (5Y Monthly)-0.08
PE Ratio (TTM)13.36
EPS (TTM)3.32
Earnings DateApr 27, 2020 - May 03, 2020
Forward Dividend & Yield2.70 (6.32%)
Ex-Dividend DateMar 12, 2020
1y Target Est50.50
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Overvalued
-28% Est. Return
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  • GlobeNewswire

    MINI, TCO, ETFC, and GCAP SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Reminds Investors of Investigations of Mergers

    WILMINGTON, Del., April 02, 2020 -- Rigrodsky & Long, P.A. announces that it is investigating: Mobile Mini, Inc. (NASDAQ GS: MINI) regarding possible breaches of fiduciary.

  • GlobeNewswire

    Lifshitz Law Firm, P.C. Announces Investigation of Mobile Mini, Inc. (MINI), Qiagen N.V., (QGEN), Taubman Centers, Inc. (TCO) and Wright Medical Group N.V. (WMGI)

    NEW YORK, April 02, 2020 -- Mobile Mini, Inc. (MINI) Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the sale of.

  • Plaza restaurants call out landlord for lack of rent assistance
    American City Business Journals

    Plaza restaurants call out landlord for lack of rent assistance

    Although local restaurants have adapted to meet government orders regarding COVID-19, it hasn't come without a financial burden or concerns regarding continued operations. Plaza restaurant owners are now voicing concerns about their landlord's lack of assistance.

  • ACCESSWIRE

    INVESTIGATION ALERT: Halper Sadeh LLP Investigates the Sale of These Companies - FSCT, TCO, RESI

    NEW YORK, NY / ACCESSWIRE / April 1, 2020 / Halper Sadeh LLP, a global investor rights law firm, continues to investigate whether the following proposed mergers are fair to shareholders. Halper Sadeh LLP ...

  • How the Shopping Mall Can Survive Covid-19
    Bloomberg

    How the Shopping Mall Can Survive Covid-19

    (Bloomberg Opinion) -- Lakeside shopping center, just outside of London, is a mecca of consumerism. It’s situated in the county of Essex, which loves shopping so much that a reality TV show captures the exploits of its glamorous, bauble-buying residents.But since last week, the mall has been open for only essential purchases, in line with government guidance. Its owner Intu Properties Plc said last Thursday that it had collected just 29% of the rent due from its tenants there and around the country. At the same time last year, it had received 77% of the amount due. Occupants including Associated British Foods Plc’s Primark and Swedish fashion retailer Hennes & Mauritz AB, which has shuttered thousands of stores around the world, are withholding payments or seeking better terms.It’s a scenario that’s being repeated on both sides of the Atlantic. Cheesecake Factory Inc., which has 294 stores throughout the U.S. and Canada, said in a  filing last week that it would not pay its April rent, and that was in discussions with its landlords, a who’s who of American mall owners.While consumer-facing groups such as apparel chains have been the first shoe to drop, landlords look set to be the next. Retailers are bracing for a prolonged shutdown. On Monday, Macy’s  Inc. said it was forloughing most of its 130,000 strong workforce after losing the majority of its sales because of store closures.No wonder some, such as U.S. mall owner Taubman Centers Inc., are fighting back. It told tenants in a memo that they still have to pay, although it added that it’s working with affected occupiers.The developing stand-off will do nothing to help the plight of stores, nor in the longer term, shopping center owners. As I have argued, the fall-out from the catastrophic loss of business from the coronavirus retail crisis needs to be shared. Some consequences will have to be borne downstream, by suppliers; some upstream, by landlords.But this could be tricky. With fixed assets like malls, it’s not easy to adjust the cost base. Some also have significant borrowings. Lenders may have to bear some of the burden, while government relief looks increasingly necessary. My colleague Brian Chappatta has warned of the potential dangers to the mortgage market.Intu, which owns 17 U.K. malls including Manchester’s Trafford Center and the Metrocentre in Gateshead, is particularly vulnerable. Even before the outbreak, it was struggling under a mountain of borrowings. It said last Thursday that it was in talks with its lenders on waiving covenants, and that it could access the U.K. government’s 330 billion-pound ($410 billion) support mechanism.Meanwhile, in the U.S., mall owners CBL & Associates Properties Inc.,  Macerich Co. and Taubman stand out for their above average net debt-to-Ebitda ratios and heavy use of secured lending, according to Lindsay Dutch, an analyst at Bloomberg Intelligence.Others look to be in a better position.Simon Property Group Inc. has one of the strongest balance sheets. But it agreed in February to buy Taubman for $3.6 billion. This deal, if it goes ahead, together with the Covid-19 impact, could increase Simon’s net debt to 7 times Ebitda at the end of 2020, from 5.6 times a year earlier, according to Moody’s. Taubman has some prize assets, such as the Short Hills Mall in New Jersey and the Gardens Mall in Florida , but the higher leverage and integration will be more challenging in the current environment.Indeed, there will be pain even for the most solid operators. Simon is the biggest landlord to Cheesecake Factory, according to analysts at RBC Capital Markets.But even when the virus abates, the retail landscape won’t be the same. Some weaker stores and restaurants will not re-open their doors. For others, it will take considerable time for demand to return to normal.A  frank conversation between retailers and landlords is needed to settle on ways for making it easier for everyone to weather this crisis. Alterations could include moving to monthly rent payments in cases where retailers are still expected to pay quarterly installments in advance, and doing so without any additional fees to facilitate the switch. Making it easier for tenants to break leases would also avoid time consuming and costly processes to exit agreements.While that may seem to favor retailers more than landlords, mall owners too have something to gain. The pandemic, and the retail  shake-out that will inevitably follow,  will exacerbate the divergence between the most muscular stores and restaurants and the laggards. It will also polarize the vibrant malls and secondary locations even more.To prosper in this new reality, mall owners will need to ensure they can attract the most desirable brands. The retailers that do emerge from the wreckage will remember how they were treated when the chips were down. On both sides, even-handed negotiations are the best way to help all parties recover, rather than risking bringing about the death of the mall for once and for all.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • GlobeNewswire

    SHAREHOLDER ALERT: WeissLaw LLP Reminds QUMU, FSCT and TCO Shareholders About Its Ongoing Investigations

    WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Qumu Corporation (QUMU) in connection with the proposed acquisition of the company by Synacor, Inc. (“SYNC”). Under the terms of the acquisition agreement, QUMU shareholders will receive 1.61 shares of SYNC common stock for each share of QUMU they own, which represents an implied per-share merger consideration of a mere $1.49 per share based upon SYNC’s March 30, 2020 closing price of $0.93.

  • Mall Owner Taubman To Tenants: Pay Your Rent
    Benzinga

    Mall Owner Taubman To Tenants: Pay Your Rent

    U.S. mall owner Taubman Centers, Inc. (NYSE: TCO) is warning tenants against skipping rent payments, CNBC reported Sunday.Taubman Says Rent 'Essential'The real estate investment trust wrote in a March 25 memo obtained by CNBC that the rental income it receives from tenants is "essential" for it to meet its own financial obligations, like paying lenders on mortgages and utility expenses.The Taubman memo reportedly said "all tenants will be expected" to stay true to their original lease obligations, despite financial difficulties related to the coronavirus.So far, restaurant chain Cheesecake Factory Inc (NASDAQ: CAKE) is the most notable national mall tenant to confirm it won't pay rent in April, although the company said it is in various stages of discussions with its landlords.RBC Capital Markets and Costar Realty found just one Cheesecake Factory located within a Taubman property.Taubman Sale Underway Taubman ultimately bears the financial responsibility of managing its malls, even if they are entirely shut down. But landlords and tenants will ultimately end up "sharing the burden" in some form, Green Street Advisors retail analyst Vince Tibone told CNBC.In February, Simon Property Group (NYSE: SPG) announced the acquisition of 80% of Taubman in a $3.6-billion deal that's expected to close this year. What's Next For Taubman Taubman is "attempting to navigate" through the complex landscape the "best way we can" and plans on "being as flexible as we can," a company spokeswoman told CNBC.So far, "most" tenants understand the status quo, she said, although the company acknowledges the situation is "much harder" for smaller and less-established occupants that may only have a presence in one mall.Taubman shares were down 0.73% at $46.05 at the time of publication Monday, while Simon Property shares were down 4.37% at $55.63. Related Links:Carly Fiorina Blasts Corporate Bailout Funding In T Coronavirus Relief BillGrubHub CEO: Independent Restaurants Are 'Really Hurting'Photo by ChildofMidnight via Wikimedia. See more from Benzinga * Instacart Employees Ready To Strike After 'Insulting' Proposal * Carly Fiorina Blasts Corporate Bailout Funding In T Coronavirus Relief Bill * Ex-FDA Chief Gottlieb Expects Coronavirus Therapeutic Option By Summer(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • GlobeNewswire

    SHAREHOLDER ALERT: Halper Sadeh LLP Investigates the Sale of These Companies – HXL, OPB, FSCT, TCO

    NEW YORK, March 30, 2020 -- Halper Sadeh LLP, a global investor rights law firm, continues to investigate whether the following proposed mergers are fair to shareholders..

  • Taubman Centers, owner of Tampa's International Plaza and other Florida luxury malls, tells tenants they still have to pay April rent
    American City Business Journals

    Taubman Centers, owner of Tampa's International Plaza and other Florida luxury malls, tells tenants they still have to pay April rent

    A spokeswoman for Taubman Centers told the Tampa Bay Business Journal that it is willing to be flexible, but it still has obligations as a landlord.

  • Moody's

    Simon International Finance, S.C.A. -- Moody's affirms Simon Property's ratings, revises outlook to negative

    Moody's Investors Service ("Moody's") affirms Simon Property Group L.P.'s ('Simon Property' or 'REIT')A2 senior unsecured debt rating and P-1 short-term debt rating. In the same rating action, Moody's has affirmed the ratings of its affiliates, Simon International Finance, S.C.A. and Simon Property Group, Inc. The rating outlook has been revised to negative from stable. The ratings affirmation reflects the retail REIT's large and high-quality portfolio of assets, proven track record through prior disruptions in the retail landscape and strong liquidity position.

  • GlobeNewswire

    SHAREHOLDER ALERT: WeissLaw LLP Reminds FSCT, TCO, and GILT Shareholders About Its Ongoing Investigations

    NEW YORK, March 24, 2020 -- If you own shares in any of the companies listed above and would like to discuss our investigations or have any questions concerning this.

  • ACCESSWIRE

    SHAREHOLDER INVESTIGATION: Are Shareholders Getting a Fair Deal? Halper Sadeh LLP Investigates the Sale of These Companies - DLPH, FG, TCO

    NEW YORK, NY / ACCESSWIRE / March 24, 2020 / Halper Sadeh LLP, a global investor rights law firm, continues to investigate whether the following proposed mergers are fair to shareholders. Halper Sadeh ...

  • GlobeNewswire

    TTPH, TCO, LM, and WLTW SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Reminds Investors of Investigations of Mergers

    WILMINGTON, DE., March 24, 2020 -- Rigrodsky & Long, P.A. announces that it is investigating: Tetraphase Pharmaceuticals, Inc. (NASDAQ GS: TTPH) regarding possible.

  • GlobeNewswire

    Are Shareholders Getting a Fair Deal? Halper Sadeh LLP Investigates the Sale of These Companies – HXL, DLPH, FG, TCO

    NEW YORK, March 24, 2020 -- Halper Sadeh LLP, a global investor rights law firm, continues to investigate whether the following proposed mergers are fair to shareholders..

  • GlobeNewswire

    Lifshitz Law Firm, P.C. Announces Investigation of Neon Therapeutics, Inc., Qiagen N.V., Stein Mart, Inc., and Taubman Centers, Inc.

    NEW YORK, March 23, 2020 -- Neon Therapeutics, Inc. (NTGN) Lifshitz & Miller announces investigation into possible breach of fiduciary duties in connection with the sale.

  • ACCESSWIRE

    SHAREHOLDER ALERT: Monteverde & Associates PC is Investigating the Following Transaction

    NEW YORK, NY / ACCESSWIRE / March 20, 2020 / Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the Empire State Building in New ...

  • Taubman Shuts Properties to Contain Coronavirus Outbreak
    Zacks

    Taubman Shuts Properties to Contain Coronavirus Outbreak

    Closure of Taubman Centers (TCO) properties comes in line with the global efforts to contain the coronavirus pandemic.

  • Taubman Centers Temporarily Closes Shopping Malls Due To Coronavirus
    Benzinga

    Taubman Centers Temporarily Closes Shopping Malls Due To Coronavirus

    Taubman Centers, Inc. (NYSE: TCO) announced Thursday that it will temporarily close all but two of the company's U.S. shopping centers in response to the coronavirus pandemic. The closures will be effective through March 29 or later if required by the government."After numerous discussions with state and local officials, we will temporarily cease operations in all but two centers this evening," CEO Robert Taubman said in a statement. "We are clearly in unprecedented times and this is right decision for our shoppers, retailers, employees and these communities."Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Taubman Centers shares were trading up 2.73% at $42.33 at the time of publication Thursday afternoon. The stock has a 52-week high of $54.50 and a 52-week low of $26.24.Related Link:Simon Property Group Announces .6B Take-Private Acquisition Of Taubman GroupBeverly Center photo by ChildofMidnight via Wikimedia. See more from Benzinga * Simon Property Group Announces .6B Acquisition Of Taubman Group(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • MarketWatch

    Taubman Centers to close all but 2 of its malls, at least through March 29

    Taubman Centers Inc. said Thursday that it will close all but two of its U.S. malls starting the close of business, in response to the COVID-19 pandemic. The real estate investment trust said the shopping center would remain closed through March 29, or later if required by state or local government. "We are clearly in unprecedented times and this is right decision for our shoppers, retailers, employees and these communities," said Chief Executive Robert Taubman. The two "open-air, street-front" retail centers staying open are Country Club Plaza in Kansas City, Missouri and International Market Place in Waikiki, Hawaii. In China, Taubman said the two malls its operates have been open since late February, while the one mall it operates in South Korea never closed. The stock rose 1.8% in afternoon trading. It has lost 22.3% over the past month, while the SPDR Real Estate Select Sector ETF has dropped 29.7% and the S&P 500 has declined 28.4%.

  • Business Wire

    Taubman Centers, Inc. to Temporarily Close Shopping Centers in Response to COVID-19

    Taubman Centers, Inc. (NYSE: TCO) today announced the temporary closures of all but two of the company’s U.S. shopping centers in response to COVID-19. The closures will be effective at the close of business on March 19 and will continue through March 29, or later if required by state or local government.

  • ACCESSWIRE

    SHAREHOLDER ALERT: Halper Sadeh LLP Investigates the Sale of These Companies; Are Shareholders Getting a Fair Deal? - DLPH, FSCT, TCO

    NEW YORK, NY / ACCESSWIRE / March 19, 2020 / Halper Sadeh LLP, a global investor rights law firm, continues to investigate whether the following proposed mergers are fair to shareholders. Halper Sadeh ...

  • Business Wire

    TAUBMAN CENTERS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Taubman Centers, Inc. - TCO

    Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of Taubman Centers, Inc. (NYSE: TCO) to Simon Property Group, Inc. (NYSE: SPG). Under the terms of the proposed transaction, shareholders of Taubman will receive only $52.50 in cash for each share of Taubman that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

  • Coronavirus sows doubt over corporate acquirers coming through
    Reuters

    Coronavirus sows doubt over corporate acquirers coming through

    Its economic impact now has investors doubting whether many companies who shook on mergers and acquisitions will see them completed. Traders and fund managers say the spread between agreed deal prices and subsequent trading in the stock of the acquisition targets is the widest they have come across. "I have been doing this for 25 years, and I have never seen panic like this coming out of merger arbitrage spreads," said Roy Behren, managing member of Westchester Capital Management, which has $4.1 billion in assets under management, most of it invested in merger arbitrage.

  • ACCESSWIRE

    SHAREHOLDER INVESTIGATION: Halper Sadeh LLP Investigates the Sale of These Companies; Are Shareholders Getting a Fair Deal? - TCO, RESI, LM

    NEW YORK, NY / ACCESSWIRE / March 17, 2020 / Halper Sadeh LLP, a global investor rights law firm, continues to investigate whether the following proposed mergers are fair to shareholders. Halper Sadeh ...

  • GlobeNewswire

    TCO, OPB, FSB, and FG SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Reminds Investors of Investigations of Mergers

    WILMINGTON, Del., March 17, 2020 -- Rigrodsky & Long, P.A. announces that it is investigating: Taubman Centers, Inc. (NYSE: TCO) regarding possible breaches of fiduciary.