Key Developments: Taubman Centers Inc (TCO)
84.44USD
24 May 2013
$-0.43 (-0.51%)
$84.87
$84.75
$84.75
$83.39
329,307
551,560
$89.46
$70.40
Latest Key Developments (Source: Significant Developments)
Taubman Centers Inc Lowers High End Of Prior FY 2013 FFO Guidance To A Range In Line With Analysts' Estimates
Taubman Centers Inc adjusted guidance for fiscal 2013 and expects funds from operations (FFO) per diluted share to the range of $3.57 to $3.67 from the previous range of $3.57 to $3.70. The change includes the negative $0.065 impact of the Company's March 2013 Series K Preferred Stock offering. This guidance assumes comparable center NOI growth, excluding lease cancellation income, of at least 3% for the year. Fiscal 2013 EPS is expected to be in the range of $1.67 to $1.82. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO of $3.65 for fiscal 2013. Full Article
Taubman Centers Inc Increases Quarterly Common Dividend 8.1% To $0.50 Per Share
Taubman Centers Inc announced that it has declared a regular quarterly dividend of $0.50 per share of common stock, an increase of 8.1 %. The common dividend is payable March 29, 2013 to shareholders of record on March 18, 2013. Full Article
Taubman Centers Inc Issues FY 2013 FFO Guidance In Line With Analysts' Estimates
Taubman Centers Inc announced that for fiscal 2013, it expects fund from operation (FFO) per diluted share to be in the range of $3.57 to $3.70 and net income allocable to common shareholders for the year is expected to be in the range of $1.67 to $1.85. According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $3.67 for fiscal 2013. Full Article
Taubman Centers Inc Announces Acquisitions Of Additional Interests In International Plaza And Waterside Shops
Taubman Centers Inc announced the acquisition of an additional 49.9% interest in International Plaza (Tampa, Fla.) and an agreement to acquire an additional 25% interest in Waterside Shops (Naples, Fla.). The Company acquired its additional interest in International Plaza from CSAT, LP, increasing its ownership in the center to 100%. The $437 million purchase price for CSAT, LP's interest in the center consists of $275 million of cash and approximately $162 million of beneficial interest in debt. The Company has agreed to acquire a 50% interest in Waterside Shops from an affiliate of Oregon PERS (Oregon PERS) on a pari passu basis with an affiliate of The Forbes Company. Upon closing, the Company's ownership in the center will be 50%, the remaining interests are owned by an affiliate of The Forbes Company. The $155 million purchase price for Oregon PERS' interest in the center consists of $72.5 million of cash and $82.5 million of beneficial interest in debt. The Company's share of cash and beneficial interest in debt are $36.3 million and $41.3 million, respectively. The transaction is subject to lender approval and is expected to close within 10 days thereafter. The Forbes Company will continue to lease and manage the center. Full Article
Taubman Centers Inc Declares Common And Preferred Dividends
Taubman Centers Inc announced that it has declared a regular quarterly dividend of $0.4625 per share of common stock. The common dividend is payable on December 31, 2012 to shareholders of record on December 17, 2012 .The Board of Directors also declared a quarterly dividend of $0.40625 on its Series J Cumulative Preferred Shares . The preferred dividends will be payable on December 31, 2012 to shareholders of record on December 17, 2012 . Full Article
Taubman Centers Inc Raises FY 2012 FFO Guidance
Taubman Centers Inc raised fiscal 2012 funds from operations (FFO) per diluted share to $3.18 to $3.23 and adjusted FFO per diluted share to the range of $3.27 to $3.32. Adjusted FFO guidance excludes charges related to the redemption of preferred stock and the charge relating to the early refinancing of the loan on The Mall at Millenia. The Company is also raising its guidance on fiscal 2012 EPS to $1.30 to $1.37 per diluted share. The guidance now assumes comparable center NOI growth, excluding lease cancellation income, of about 6% for the year, up from a range of 5% to 6% previously. The Company's previous guidance on fiscal 2012 FFO per diluted share was a range of $3.13 to $3.18, its previous guidance on fiscal 2012 Adjusted FFO per diluted share was a range of $3.22 to $3.27, and its previous guidance on fiscal 2012 EPS was a range of $1.20 to $1.30 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $3.23 for fiscal 2012. Full Article
Taubman Centers Inc Declares Common And Preferred Dividends
Taubman Centers, Inc. announced that the Board of Directors has declared a regular quarterly dividend of $0.4625 per share of common stock. The common dividend is payable on September 28, 2012 to shareholders of record on September 17, 2012. The Board of Directors also declared a quarterly dividend of $0.21215278 on its Series J Cumulative Redeemable Preferred Stock. This represents a dividend from the date of issuance, August 14, 2012, through September 30, 2012. The preferred dividend will be payable on September 28, 2012 to shareholders of record on September 17, 2012. Full Article
Taubman Centers, Inc. Updates FY 2012 FFO Guidance To A Range In Line With Analysts' Estimates
Taubman Centers, Inc. updated its fiscal 2012 guidance and expects adjusted funds from operations (FFO) per share to the range of $3.22-$3.27 and EPS to $1.20-$1.30. According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $3.27 for fiscal 2012. Full Article
Taubman Centers, Inc. Announces Offering Of 2.5 Million Common Shares
Taubman Centers, Inc. announced that it plans to sell 2,500,000 common shares in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC). The underwriters will be granted a 30-day option to purchase up to an additional 375,000 common shares. The Company intends to use the net proceeds of this offering to reduce outstanding borrowings under its $715 million revolving lines of credit. The underwriters will be granted a 30-day option to purchase up to an additional 375,000 common shares. The Company intends to use the net proceeds of this offering to reduce outstanding borrowings under its $715 million revolving lines of credit. Full Article
Taubman Centers, Inc. Raises FY 2014 FFO Guidance
Taubman Centers, Inc. announced that for fiscal 2012, it expects adjusted funds from operations (FFO) per share to the range of $3.24-$3.29 and EPS to $1.27-$1.37. According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $3.24 for fiscal 2012. Full Article
Billionaire Taubman sexually harassed flight attendant -lawsuit
- Octogenarian billionaire mall developer A. Alfred Taubman has been sued for $29 million by a Michigan flight attendant who claimed he sexually harassed her numerous times aboard his private plane.
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