TCO Taubman Centers

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
Industry (SIC)
SEC CIK
Corporate docs
IRS number
382933632
TCO stock data
()
Calendar
9 Nov 20
17 Apr 21
31 Dec 21
Financial summary
Quarter (USD) |
Sep 20 | Jun 20 | Mar 20 | Sep 19 | |
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Diluted EPS |
Annual (USD) |
Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
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Revenue | |||||
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Operating income | |||||
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | 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) | (positive/no burn) | (positive/no burn) | 12.2M | 2.68M | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | n/a | n/a | 80.5M | 17.66M | n/a | n/a |
Cash remaining | n/a | n/a | 176.64M | 239.48M | n/a | n/a |
Runway (months of cash) | n/a | n/a | 14.5 | 89.4 | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
29 Dec 20 | Tysoe Ronald W | Common Stock | Sale back to company | Dispose D | No | No | 0 | 33,211 | 0 | 0 |
29 Dec 20 | Killefer Nancy | Common Stock | Sale back to company | Dispose D | No | No | 0 | 5,126 | 0 | 0 |
29 Dec 20 | Killefer Nancy | Common Stock | Sale back to company | Dispose D | No | No | 0 | 4,818 | 0 | 5,126 |
29 Dec 20 | Clark Mayree C | Common Stock | Sale back to company | Dispose D | No | No | 0 | 13,134 | 0 | 0 |
29 Dec 20 | William S Taubman | Common Stock | Sale back to company | Dispose D | Yes | No | 0 | 186,837 | 0 | 0 |
29 Dec 20 | William S Taubman | Common Stock | Sale back to company | Dispose D | Yes | No | 0 | 711,504 | 0 | 0 |
29 Dec 20 | William S Taubman | Common Stock | Sale back to company | Dispose D | Yes | No | 0 | 203,588 | 0 | 0 |
29 Dec 20 | William S Taubman | Common Stock | Sale back to company | Dispose D | Yes | No | 0 | 100 | 0 | 0 |
29 Dec 20 | William S Taubman | Common Stock | Sale back to company | Dispose D | Yes | No | 0 | 43,032 | 0 | 0 |
29 Dec 20 | William S Taubman | Limited Liability Company Interests Common Stock | Conversion | Aquire C | Yes | No | 0 | 472,650 | 0 | 472,650 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
0.7% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 5 |
Opened positions | 1 |
Closed positions | 251 |
Increased positions | 0 |
Reduced positions | 2 |
13F shares |
Current |
---|---|
Total value | 54.72M |
Total shares | 451.19K |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners |
Shares | Value |
---|---|---|
Ubs Global Asset Management Americas | 314.67K | $10.48M |
MEAG MUNICH ERGO AssetManagement GmbH | 134.1K | $4.71M |
DekaBank Deutsche Girozentrale | 1.5K | $64K |
BNP Paribas Arbitrage | 918 | $39.47M |
Meeder Asset Management | 1 | $0 |
Integrated Core Strategies | 0 | $0 |
IFP Advisors | 0 | $0 |
Financial report summary
?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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Readability |
H.S. senior Avg
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New words:
CAO, career, Certified, Connecticut, deadline, dismissal, dismissed, distressed, expedient, Hurren, intermittently, joined, joining, Leopold, Lord, matter, modestly, Moran, Plante, PLLC, prejudice, Procedure, professional, progressive, publicly, regional, respond, Ryan, shortened, susceptible, Taylor, Vice
Removed:
build, expecting, fix, partnered, strong, unlevered
Financial reports
10-Q
2020 Q3
Quarterly report
9 Nov 20
10-Q
2020 Q2
Quarterly report
10 Aug 20
10-Q
2020 Q1
Quarterly report
5 May 20
10-K/A
2019 FY
Annual report (amended)
29 Apr 20
10-K
2019 FY
Annual report
27 Feb 20
10-Q
2019 Q3
Quarterly report
30 Oct 19
10-Q
2019 Q2
Quarterly report
26 Jul 19
10-Q
2019 Q1
Quarterly report
1 May 19
10-K
2018 FY
Annual report
28 Feb 19
10-Q
2018 Q3
Quarterly report
30 Oct 18
Current reports
8-K
Completion of Acquisition or Disposition of Assets
29 Dec 20
8-K
Submission of Matters to a Vote of Security Holders
28 Dec 20
8-K
Other Events
22 Dec 20
8-K
Entry into a Material Definitive Agreement
16 Nov 20
8-K
Taubman Centers, Inc. Issues Third Quarter Results
9 Nov 20
8-K
Taubman Centers, Inc. Issues Second Quarter Results
10 Aug 20
8-K
Submission of Matters to a Vote of Security Holders
28 Jul 20
8-K
Other Events
25 Jun 20
8-K
Taubman Centers Shareholders Approve Merger with Simon Property Group
25 Jun 20
8-K
Regulation FD Disclosure
22 Jun 20
Registration and prospectus
15-12B
Securities registration termination
29 Jan 21
POS AM
Prospectus update (post-effective amendment)
15 Jan 21
POS AM
Prospectus update (post-effective amendment)
15 Jan 21
POS AM
Prospectus update (post-effective amendment)
15 Jan 21
POS AM
Prospectus update (post-effective amendment)
15 Jan 21
POS AM
Prospectus update (post-effective amendment)
15 Jan 21
POS AM
Prospectus update (post-effective amendment)
15 Jan 21
S-8 POS
Registration of securities for employees (post-effective amendment)
15 Jan 21
S-8 POS
Registration of securities for employees (post-effective amendment)
15 Jan 21
S-8 POS
Registration of securities for employees (post-effective amendment)
15 Jan 21
Proxies
DEFA14A
Additional proxy soliciting materials
22 Dec 20
DEFA14A
Additional proxy soliciting materials
15 Dec 20
DEFM14A
Proxy related to merger
4 Dec 20
PREM14A
Preliminary proxy related to merger
25 Nov 20
DEFA14A
Additional proxy soliciting materials
16 Nov 20
DEF 14A
Definitive proxy
2 Jul 20
DEFA14A
Additional proxy soliciting materials
22 Jun 20
DEFA14A
Additional proxy soliciting materials
10 Jun 20
DEFM14A
Proxy related to merger
29 May 20
PRER14A
Preliminary revised proxy
26 May 20
Other
EFFECT
Notice of effectiveness
25 Jan 21
EFFECT
Notice of effectiveness
25 Jan 21
EFFECT
Notice of effectiveness
25 Jan 21
EFFECT
Notice of effectiveness
25 Jan 21
EFFECT
Notice of effectiveness
25 Jan 21
EFFECT
Notice of effectiveness
25 Jan 21
UPLOAD
Letter from SEC
24 Jan 21
UPLOAD
Letter from SEC
20 Jun 17
UPLOAD
Letter from SEC
16 Apr 17
CORRESP
Correspondence with SEC
13 Apr 17
Ownership
SC 13G/A
TAUBMAN CENTERS / COHEN & STEERS ownership change
16 Feb 21
SC 13G/A
TAUBMAN CENTERS / FMR ownership change
8 Feb 21
SC 13G
TAUBMAN CENTERS / INTEGRATED CORE STRATEGIES ownership change
5 Jan 21
4
TAUBMAN CENTERS / Cornelia Connelly Marakovits ownership change
31 Dec 20
4
TAUBMAN CENTERS / Simon Leopold ownership change
31 Dec 20
4
TAUBMAN CENTERS / MICHAEL J EMBLER ownership change
31 Dec 20
4
TAUBMAN CENTERS / MICHELLE J GOLDBERG ownership change
31 Dec 20
4
TAUBMAN CENTERS / ROBERT S TAUBMAN ownership change
31 Dec 20
4
TAUBMAN CENTERS / Janice L Fields ownership change
31 Dec 20
4
TAUBMAN CENTERS / Ryan Hurren ownership change
31 Dec 20
Transcripts
2019 Q3
Earnings call transcript
30 Oct 19
2019 Q2
Earnings call transcript
26 Jul 19
2019 Q1
Earnings call transcript
2 May 19
2018 Q4
Earnings call transcript
14 Feb 19
2018 Q3
Earnings call transcript
30 Oct 18
2018 Q2
Earnings call transcript
31 Jul 18
2017 Q4
Earnings call transcript
27 Apr 18
2017 Q4
Earnings call transcript
9 Feb 18
2017 Q3
Earnings call transcript
5 Nov 17
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