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Taubman Centers (TCO)

Taubman Centers, Inc. operates as a real estate investment trust. It is engaged in the ownership, leasing, acquisition, disposition, development, expansion, and management of regional shopping centers. The company was founded by A. Alfred Taubman in 1950 and is headquartered in Bloomfield Hills, MI.

Company profile

Ticker
TCO, TCO-PJ, TCO-PK
Exchange
Website
CEO
Robert S. Taubman
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Anseong Holdings LLC • Beverly Associates L.P. • Beverly Partners 1, Inc. • CCK Solar LLC • Cherry Creek Holdings LLC • City Creek Center Associates LLC • Club Beverly LLC • Dolphin Mall Associates LLC • Dolphin Mall N-M Holding LLC • Great Lakes Crossing Land, LLC ...
IRS number
382933632

TCO stock data

Calendar

9 Nov 20
28 Sep 22
31 Dec 22
Quarter (USD) Sep 20 Jun 20 Mar 20 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 257.14M 257.14M 257.14M 257.14M 257.14M 257.14M
Cash burn (monthly) (no burn) (no burn) 12.2M 2.68M (no burn) (no burn)
Cash used (since last report) n/a n/a 292.32M 64.14M n/a n/a
Cash remaining n/a n/a -35.18M 193M n/a n/a
Runway (months of cash) n/a n/a -2.9 72.1 n/a n/a

Beta Read what these cash burn values mean

1.7% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 2 0 NEW
Opened positions 2 0 NEW
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 35.3B 0 NEW
Total shares 1.06M 0 NEW
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
BNP Paribas Arbitrage 1.06M $35.3B NEW
Crossmark Global 2.78K $213K NEW
Largest transactions Shares Bought/sold Change
BNP Paribas Arbitrage 1.06M +1.06M NEW
Crossmark Global 2.78K +2.78K NEW

Financial report summary

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Management Discussion
  • In addition to the results and trends in our operations discussed in the preceding sections, the following sections discuss certain transactions or events that affected operations during the three and nine months ended September 30, 2020 and 2019, or are expected to affect operations in the future.
  • In response to the COVID-19 pandemic, we temporarily closed most of our U.S. shopping centers in mid-March 2020. As of June 30, 2020, all of our U.S. centers had reopened and as of September 30, 2020, nearly all of our U.S. centers had reopened. Three of our properties were closed intermittently during the three months ended September 30, 2020 as a result of state regulations but are once again open (see "Current Operating Trends - COVID-19 Pandemic Portfolio Impact"). During the three months ended March 31, 2020, the closure of our U.S. shopping centers did not significantly affect our financial results; however, during both the three months ended September 30, 2020 and June 30, 2020, the financial results of our U.S. shopping centers were adversely impacted by the COVID-19 pandemic.
  • In Asia, our three operating centers experienced varying levels of disruption due to the COVID-19 pandemic. CityOn.Xi'an was closed for about a month in February, CityOn.Zhengzhou was closed for 10 days in February, and Starfield Hanam never closed. Our financial results in Asia were adversely impacted for the three months ended March 31, 2020, though our share of the impact was limited due to our partial ownership interests in the centers (see "Results of Operations - Partial Dispositions of Ownership Interests (Blackstone Transactions)"). However, sales in our centers in Asia have recovered during the nine months ended September 30, 2020 and for the three months ended September 30, 2020, tenant sales per square foot were up modestly.

Content analysis

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Positive
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Constraining
Legalese
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Readability
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Removed: build, expecting, fix, partnered, strong, unlevered