Clearly Taubman is expanding its trademark luxury brand in Asia with a strategic focus on diversification; however, the company has spent a few years studying the trade area and, as explained (on the recent earnings call) by CEO, Bobby Taubman, the growth will be moderately executed:
In Asia, we now have a platform and good strategic partners. However, we believe it's important to walk before we run. We're very focused on execution. We're not the lead in these initial projects; however, we always make sure that we have control over design and leasing. This is a marathon, it is not a sprint.
Taubman: A Consistent Dividend Platform
Taubman Centers, founded by A. Alford Taubman in 1950 and public since 1992, is less than a month away from celebrating its 20-year anniversary as a REIT. The Bloomfield Hills-based company has maintained a consistent cash payout history during the Great Recession and Taubman was one of a handful of U.S. REITs that were not forced to sell assets of raise equity in 2009 or 2010. The company's two-decade record was recently explained by the company's CEO Bobby Taubman, during the recent earnings call:
In less than a month, on November 20th, we will have been a REIT for 20 years. As we approach this anniversary, I'm very pleased to say that as of the end of September, our company's total shareholder return for both the 10- and 15-year periods was number one among all U.S. REITs operating during those periods. We've also done very well on our one, three and five-year bases. We're proud of this consistent performance. And we'd like to thank the many employees and shareholders who have supported us over now these 20 years.
Taubman shares are trading at $77.94 per share and the current market capitalization is $4.809 billion. The current dividend yield is 2.37% and the year-to-date total return is 27.86%, compared with the S&P Index (in the same period) that returned 14.26% or the SNL US REIT Equity Index that returned 15.06%. At the time of publication, the author held no positions in any of the stocks mentioned.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV