On 12/12/13, Taubman Centers, Inc.'s 6.500% Series J Cumulative Redeemable Preferred Stock (TCO.PRJ) will trade ex-dividend, for its quarterly dividend of $0.4062, payable on 12/31/13. As a percentage of TCO.PRJ's recent share price of $22.65, this dividend works out to approximately 1.79%, so look for shares of TCO.PRJ to trade 1.79% lower — all else being equal — when TCO.PRJ shares open for trading on 12/12/13. On an annualized basis, the current yield is approximately 7.18%, which compares to an average yield of 7.52% in the "REITs" preferred stock category, according to Preferred Stock Channel.
As of last close, TCO.PRJ was trading at a 9.52% discount to its liquidation preference amount. The chart below shows the one year performance of TCO.PRJ shares, versus TCO:
Below is a dividend history chart for TCO.PRJ, showing historical dividends prior to the most recent $0.4062 on Taubman Centers, Inc.'s 6.500% Series J Cumulative Redeemable Preferred Stock :
According to the ETF Finder at ETF Channel, Taubman Centers, Inc. (TCO) makes up 4.09% of the iShares Retail Real Estate Capped ETF (RTL) which is trading lower by about 0.3% on the day Tuesday.