Taubman Centers Reaches New 52-Week High (TCO)

NEW YORK ( TheStreet) -- Taubman Centers (NYSE: TCO) hit a new 52-week high Monday as it is currently trading at $70.15, above its previous 52-week high of $70.03 with 209,172 shares traded as of 11:55 a.m. ET. Average volume has been 628,700 shares over the past 30 days.

Taubman Centers has a market cap of $3.81 billion and is part of the financial sector and real estate industry. Shares are up 12.1% year to date as of the close of trading on Friday.

Taubman Centers, Inc. operates as a real estate investment trust. As of June 30, 2005, the company owned a 63% managing general partner's interest in The Taubman Realty Group Limited Partnership (the operating partnership). The company has a P/E ratio of 53.8, below the average real estate industry P/E ratio of 60.8 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Taubman Centers as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, compelling growth in net income, expanding profit margins and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Taubman Centers Ratings Report.

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