Here’s Why Taubman Centers Stock Is Soaring Today [The Motley Fool]
TAUBMAN CENTERS (TCO)
Last taubman centers earnings: 2/10 07:32 am
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Source: The Motley Fool
Here’s Why Taubman Centers Stock Is Soaring Today The mall operator is up by more than 10%, but it’s not because of strong earnings. At a time when retail bankruptcies are plentiful and malls are feeling the impact, it might seem odd that a real estate investment trust , or REIT, that invests in mall properties would be spiking. But that's exactly what's happening, and it's not even because of a strong earnings report. Taubman Centers ( NYSE:TCO ) , which invests in high-end mall properties, has reportedly been in talks with massive mall REIT Simon Property Group ( NYSE:SPG ) , with the latter interested in a potential acquisition. To be clear, details are very light at this point. We have no idea if an acquisition price has been discussed, or how much Simon might be willing to pay, but it's fair to say that with Simon's market capitalization over $40 billion and Taubman's at less than $2 billion, it could easily afford to buy Taubman if it wanted to. And this isn't the first time
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