Taubman Centers Reaches New 52-Week High (TCO)

NEW YORK ( TheStreet) -- Taubman Centers (NYSE: TCO) hit a new 52-week high Wednesday as it is currently trading at $77.38, above its previous 52-week high of $76.60 with 8,698 shares traded as of 9:38 a.m. ET. Average volume has been 499,900 shares over the past 30 days.

Taubman Centers has a market cap of $4.37 billion and is part of the financial sector and real estate industry. Shares are up 23.3% year to date as of the close of trading on Tuesday.

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 58.4, above the average real estate industry P/E ratio of 24.9 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, solid stock price performance, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Taubman Centers Ratings Report.

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