Taubman Centers (TCO) Increases Quarterly Dividend by 5%

Much to the delight of its shareholders, Taubman Centers, Inc. TCO has announced regular quarterly dividend of 62.5 cents per share. This is an increase of 5% from the prior payment of 59.5 cents. The new dividend will be paid on Mar 31 to shareholders of record as of Mar 15.

Bloomfield Hills, MI-based Taubman is a retail real estate investment trust (“REIT”), which owns, develops, manages, acquires and operates regional and super-regional shopping centers throughout the U.S. The company has a good track record of raising its shareholders’ value. In fact, Taubman never slashed its common dividend since it went public in 1992. Instead, the company has hiked its payout 20 times since then.

In early February, Taubman reported fourth-quarter 2016 adjusted funds from operations (“FFO”) per share of $1.01, missing the Zacks Consensus Estimate of $1.03.

Currently, Taubman carries a Zacks Rank #3 (Hold). Shares of Taubman underperformed the Zacks categorized REIT and Equity Trust – Retail industry over the past three months. During that time frame, shares of the company declined 3.4%, whereas the industry gained 3.4%.

Investors interested in the REIT and Equity Trust – Retail industry, may consider stocks like Retail Properties of America, Inc. RPAI, Urban Edge Properties UE and Urstadt Biddle Properties Inc. UBA. All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.

Retail Properties of America’s first-quarter 2017 estimates for FFO remained stable at 25 cents per share over the past 30 days.

First-quarter 2017 estimates for FFO per share for Urban Edge Properties moved up 3.1% to 33 cents over the past 30 days.

Urstadt Biddle Properties’ first-quarter 2017 estimates for FFO remained stable at 33 cents per share over the past 30 days.

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Taubman Centers, Inc. (TCO): Free Stock Analysis Report
 
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