Wall Street brokerages expect Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) to post earnings per share (EPS) of $0.40 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Tanger Factory Outlet Centers’ earnings, with the highest EPS estimate coming in at $0.42 and the lowest estimate coming in at $0.38. Tanger Factory Outlet Centers also posted earnings per share of $0.40 during the same quarter last year. The company is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Tanger Factory Outlet Centers will report full-year earnings of $1.73 per share for the current financial year, with EPS estimates ranging from $1.72 to $1.75. For the next financial year, analysts expect that the company will post earnings of $1.79 per share, with EPS estimates ranging from $1.77 to $1.80. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Tanger Factory Outlet Centers.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last issued its quarterly earnings data on Wednesday, February 16th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.03). Tanger Factory Outlet Centers had a return on equity of 1.82% and a net margin of 2.11%. During the same period in the previous year, the company posted $0.54 earnings per share.
A number of research firms have weighed in on SKT. StockNews.com began coverage on Tanger Factory Outlet Centers in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Friday, February 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Tanger Factory Outlet Centers has a consensus rating of “Hold” and an average target price of $16.50.
In related news, CAO Thomas Joseph Guerrieri, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $17.25, for a total value of $34,500.00. Following the sale, the chief accounting officer now directly owns 45,894 shares of the company’s stock, valued at $791,671.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Baldwin Brothers LLC MA bought a new stake in Tanger Factory Outlet Centers during the 1st quarter valued at approximately $34,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Tanger Factory Outlet Centers by 299.8% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,175 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 1,631 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Tanger Factory Outlet Centers in the 4th quarter worth approximately $63,000. Van ECK Associates Corp boosted its position in shares of Tanger Factory Outlet Centers by 19.2% in the 3rd quarter. Van ECK Associates Corp now owns 4,770 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 769 shares in the last quarter. Finally, Eagle Bay Advisors LLC boosted its position in shares of Tanger Factory Outlet Centers by 92.0% in the 3rd quarter. Eagle Bay Advisors LLC now owns 4,800 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 2,300 shares in the last quarter. 79.03% of the stock is currently owned by institutional investors and hedge funds.
NYSE SKT opened at $17.74 on Thursday. The stock’s 50-day simple moving average is $17.01 and its two-hundred day simple moving average is $18.17. Tanger Factory Outlet Centers has a twelve month low of $15.45 and a twelve month high of $22.51. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.80. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 253.46, a PEG ratio of 1.20 and a beta of 1.86.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Friday, April 29th will be paid a $0.20 dividend. The ex-dividend date is Thursday, April 28th. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 4.51%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 1,043.01%.
Tanger Factory Outlet Centers Company Profile (Get Rating)
Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger’s operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies.
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