Taubman Centers (TCO) : Traders are bullish on Taubman Centers (TCO) as it has outperformed the S&P 500 by a wide margin of 0.9% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.79%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.3% in the last 1 week, and is up 0.76% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 1.16% and the 50-Day Moving Average is 2.58%.The 200 Day SMA reached 8.89%. Taubman Centers, Inc. is up 13.8% in the last 3-month period. Year-to-Date the stock performance stands at 3.18%.
Taubman Centers (NYSE:TCO): After opening at $78.21, the stock dipped to an intraday low of $78.21 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $79.46 and the buying power remained strong till the end. The stock closed at $79.16 for the day, a gain of 1.75% for the day session. The total traded volume was 293,336. The stocks close on the previous trading day was $77.8.
Taubman Centers, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Taubman Realty Group Limited Partnership (TRG) is a partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties. The Company owns, leases, acquires, disposes of, develops, expands and manages regional and super-regional shopping centers and interests therein. The Companys portfolio of operating centers, as of December 31, 2014, consisted of 18 urban and suburban shopping centers in 10 states. The centers are located in metropolitan areas, including Denver, Detroit, Los Angeles, Miami, Nashville, New York City, Orlando, Salt Lake City, San Francisco, Sarasota, Saint Louis, Tampa and Washington, D.C. The centers range in size between 236,000 and 1.6 million square feet of gross leasable area (GLA) and between 186,000 and 671,000 square feet of Mall GLA with an average of 1 million and 0.5 million square feet, respectively.