Revenue Update on Taubman Centers(NYSE:TCO)

Taubman Centers(NYSE:TCO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $158.89M. Analysts estimated a revenue of $147.45M. Earnings per share were $1.04. Analysts had estimated an EPS of $0.99.

Taubman Centers (TCO) shares turned negative on Thursdays trading session with the shares closing down -0.76 points or -0.96% at a volume of 1,48,608. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $79.87. The peak price level was also seen at $79.87 while the days lowest was $78.74. Finally the shares closed at $78.79. The 52-week high of the shares is $81.68 while the 52-week low is $63.32. According to the latest information available, the market cap of the company is $4,758 M.

Several Insider Transactions has been reported to the SEC. On Jun 6, 2016, David A. Wolff (CAO) sold 794 shares at $70.06 per share price.Also, On Mar 22, 2016, Robert S Taubman (CEO) purchased 2,240 shares at $70.18 per share price.On Feb 22, 2016, William S Taubman (Chief Operating Officer) sold 34,876 shares at $68.13 per share price, according to the Form-4 filing with the securities and exchange commission.

Taubman Centers Inc. is a self-administered and self-managed real estate investment trust (REIT). The Taubman Realty Group Limited Partnership (TRG) is a partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties. The Company owns leases acquires disposes of develops expands and manages regional and super-regional shopping centers and interests therein. The Company’s portfolio of operating centers as of December 31 2014 consisted of 18 urban and suburban shopping centers in 10 states. The centers are located in metropolitan areas including Denver Detroit Los Angeles Miami Nashville New York City Orlando Salt Lake City San Francisco Sarasota Saint Louis Tampa and Washington D.C. The centers range in size between 236000 and 1.6 million square feet of gross leasable area (GLA) and between 186000 and 671000 square feet of Mall GLA with an average of 1 million and 0.5 million square feet respectively.

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