BPR - Taubman Centers: You Get A Rolex For The Price Of A Timex
Based on the reasoned and extensive fundamental analysis my readers have come to expect, I'm about to make a strong case for Taubman Centers (TCO), and its unchallengeable value for serious REIT investors.
First, some helpful background:
In my recent overview article, The Mall REIT Conundrum, I explained, “the most commonly utilized method for determining a mall's classification (as A, B, C, or D) is the sales-per-square-foot of their in-line tenants.” This methodology is based on quantifiable sales per square foot metrics, with the disparity illustrated below:
I explained, “I consider Taubman Centers a