Taubman Centers (TCO) Tops Q2 AFFO by 4c; Raises Guidance

Taubman Centers (NYSE: TCO) reported Q2 AFFO of $0.76, $0.04 better than the analyst estimate of $0.72. Revenue for the quarter came in at $131.97 million versus the consensus estimate of $129.74 million.

Taubman Centers sees FY2015 AFFO of $3.28-$3.36, versus prior guidance of $3.20-$3.28 and the consensus of $3.27.

“We delivered another solid quarter,” said Robert S. Taubman, chairman, president and chief executive officer of Taubman Centers. “Our performance was driven by increased rents and net recoveries, as well as the excellent performance of The Mall at University Town Center in Sarasota, Florida.”

For earnings history and earnings-related data on Taubman Centers (TCO) click here.

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