08/10/2020
Taubman Centers, Inc. Issues Second Quarter Results
- Earnings Lower Due to Impact of COVID-19 Pandemic - Amended $1.1 Billion Revolving Line of Credit Facility and Unsecured Term Loans to Provide Financial Flexibility Through the Pandemic - Starfield Anseong, Taubman Asia’s Fourth Investment, to Open on September 25th nearly 100 Percent Leased - Asia Sales Rebound Following COVID-19 Closures Taubman Centers, Inc. (NYSE: TCO) today reported financial results for the second quarter of 2020. June 30, 2020 Three Months Ended June 30, 2019 Three Months Ended June 30, 2020 Six Months Ended June 30, 2019 Six Months Ended Net income (loss) attributable to common shareowners, diluted (in thousands) ($34,069)(1) $6,266 ($14,197)(1) $21,384 Net income (loss) attributable to common shareowners (EPS) per diluted common share ($0.55)(1) $0.10 ($0.23)(1) $0.35 Funds from Operations (FFO) per diluted common share $0.29 $0.78 $1.08 $1.71 Growth rate (62.8)% (36.8)% Adjusted FFO (AFFO) per diluted common share $0.41(2)...
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08/06/2020
Taubman Schedules Second Quarter Earnings Release
Taubman Centers, Inc. (NYSE: TCO) will announce its second quarter 2020 earnings after the market closes on August 10, 2020. The company will not host a conference call this quarter. About Taubman Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong. www.taubman.com. Forward Looking Statement For ease of use, references in this press release to “Taubman Centers,”, “we”, “us”, “our”, “company,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc....
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06/30/2020
Taubman Centers Provides Business Update
All Malls are Now Open Taubman Centers, Inc. (NYSE: TCO) today announced that 100 percent of its operating properties in the U.S. and Asia, have reopened. Most U.S. centers were temporarily closed on March 19 in response to the COVID-19 pandemic and have reopened gradually using enhanced safety protocols, in compliance with all local, state and federal laws. “Nearly 85 percent of stores in our portfolio have reopened, with more opening every day,” said the company’s Chairman, President and CEO Robert S. Taubman. “We are pleased to safely welcome customers back, and we are encouraged by the results we are seeing.” In addition to the Company’s 21 centers in major markets across the U.S., the Company’s three Asia shopping centers - CityOn.Xi’an (Xi’an, China) , CityOn.Zhengzhou (Zhengzhou, Henan, China) and Starfield Hanam (Hanam, South Korea) have been open and operating since the end of February. Taken together, about 95 percent of stores in Asia have reopened and comparable sales per...
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