Here’s Why Taubman Centers Stock Is Soaring Today
At a time when retail bankruptcies are plentiful and malls are feeling the impact, it might seem odd that a real estate investment trust, or REIT, that invests in mall properties would be spiking. But that's exactly what's happening, and it's not even because of a strong earnings report.
Taubman Centers (NYSE: TCO), which invests in high-end mall properties, has reportedly been in talks with massive mall REIT Simon Property Group (NYSE: SPG), with the latter interested in a potential acquisition.
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Source Fool.com
