TCO Taubman Centers Dashboard

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

NYSE

Website

www.taubman.com

CEO

Robert S. Taubman

Incorporated

Michigan

Location

Michigan

Fiscal year end

Dec 31

Sector

Finance and Insurance > Other Financial Vehicles

Industry (SIC)

Real Estate Investment Trusts

Annaly Capital Management • Brookfield Property REIT • Simon Property • VEREIT • Erp Operating LTD Partnership • Equity Residential Properties Trust • Prologis • AGNC Investment • Boston Properties • Boston Properties LTD Partnership ...

SEC CIK

0000890319

Corporate docs

Articles of Incorporation & Bylaws

IRS number

382933632

TCO stock data

S&P 500

1M 1Y 2Y 5Y

Press releases

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Taubman Announces Taxable Allocations of 2020 Common and Preferred Share Dividend Distributions

22 Jan 21

The Taubman Company LLC announced today the tax allocations of the 2020 dividend distributions on the delisted Taubman Centers, Inc. common shares and 6.5% Series J and 6.25% Series K Cumulative Redeemable Preferred

Calendar

9 Nov 20

17 Apr 21

31 Dec 21

Financial summary

Financial statements Chart TCO financial data

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

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

Beta Read what these cash burn values mean

Recent insider trades

TCO insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	#Shares	#Remaining
29 Dec 20	Tysoe Ronald W	Common Stock	Sale back to company	Dispose D	No	No	33,211	0
29 Dec 20	Killefer Nancy	Common Stock	Sale back to company	Dispose D	No	No	5,126	0
29 Dec 20	Killefer Nancy	Common Stock	Sale back to company	Dispose D	No	No	4,818	5,126
29 Dec 20	Clark Mayree C	Common Stock	Sale back to company	Dispose D	No	No	13,134	0
29 Dec 20	William S Taubman	Common Stock	Sale back to company	Dispose D	Yes	No	186,837	0
29 Dec 20	William S Taubman	Common Stock	Sale back to company	Dispose D	Yes	No	711,504	0
29 Dec 20	William S Taubman	Common Stock	Sale back to company	Dispose D	Yes	No	203,588	0
29 Dec 20	William S Taubman	Common Stock	Sale back to company	Dispose D	Yes	No	100	0
29 Dec 20	William S Taubman	Common Stock	Sale back to company	Dispose D	Yes	No	43,032	0
29 Dec 20	William S Taubman	Limited Liability Company Interests Common Stock	Conversion	Aquire C	Yes	No	472,650	472,650

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q4 2020

TCO institutional ownership history Ownership history

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	Prev Q	Change
Total holders	5	255	-98.0%
Opened positions	1	21	-95.2%
Closed positions	251	37	+578.4%
Increased positions	0	82	EXIT
Reduced positions	2	97	-97.9%

13F shares	Current	Prev Q	Change
Total value	54.72M	2.14B	-97.4%
Total shares	451.19K	64.22M	-99.3%
Total puts	0	2.77M	EXIT
Total calls	0	4.18M	EXIT
Total put/call ratio	–	0.7	–

Largest owners	Shares	Value	Change
Ubs Global Asset Management Americas	314.67K	$10.48M	0.0%
MEAG MUNICH ERGO AssetManagement GmbH	134.1K	$4.71M	0.0%
DekaBank Deutsche Girozentrale	1.5K	$64K	NEW
BNP Paribas Arbitrage	918	$39.47M	-99.9%
Meeder Asset Management	1	$0	-99.9%
Integrated Core Strategies	0	$0
IFP Advisors	0	$0	EXIT

Largest transactions	Shares	Bought/sold	Change
Vanguard	0	-8.26M	EXIT
BLK Blackrock	0	-6.72M	EXIT
Pentwater Capital Management	0	-5.01M	EXIT
Healthcare Of Ontario Pension Plan Trust Fund	0	-2.69M	EXIT
STT State Street	0	-2.56M	EXIT
GS Goldman Sachs	0	-2.42M	EXIT
C Citigroup	0	-2.15M	EXIT
Westchester Capital Management	0	-1.95M	EXIT
Alpine Associates Management	0	-1.44M	EXIT
TIG Advisors	0	-1.33M	EXIT

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

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

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. senior Avg

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

From filing 10-Q 2020 Q3