Equities research analysts forecast that Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) will announce earnings per share (EPS) of $0.43 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Tanger Factory Outlet Centers’ earnings, with the lowest EPS estimate coming in at $0.41 and the highest estimate coming in at $0.44. Tanger Factory Outlet Centers also posted earnings of $0.43 per share in the same quarter last year. The firm is expected to issue its next earnings results on Monday, January 1st.
On average, analysts expect that Tanger Factory Outlet Centers will report full-year earnings of $1.73 per share for the current year, with EPS estimates ranging from $1.72 to $1.75. For the next financial year, analysts anticipate that the company will post earnings of $1.79 per share, with EPS estimates ranging from $1.77 to $1.80. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Tanger Factory Outlet Centers.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.21). The business had revenue of $108.87 million during the quarter, compared to analyst estimates of $101.62 million. Tanger Factory Outlet Centers had a return on equity of 5.04% and a net margin of 5.84%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $0.40 EPS.
Several analysts recently commented on the company. StockNews.com started coverage on Tanger Factory Outlet Centers in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research downgraded shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.50.
SKT stock opened at $17.76 on Wednesday. Tanger Factory Outlet Centers has a 1-year low of $15.51 and a 1-year high of $22.51. The company has a current ratio of 2.63, a quick ratio of 1.73 and a debt-to-equity ratio of 2.74. The business’s 50 day moving average is $17.12 and its 200-day moving average is $18.20. The firm has a market cap of $1.85 billion, a P/E ratio of 80.73, a P/E/G ratio of 1.25 and a beta of 1.77.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, April 28th. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 4.50%. Tanger Factory Outlet Centers’s dividend payout ratio is 363.65%.
In other news, CAO Thomas Joseph Guerrieri, Jr. sold 2,000 shares of the firm’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $17.25, for a total value of $34,500.00. Following the completion of the sale, the chief accounting officer now directly owns 45,894 shares in the company, valued at $791,671.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in Tanger Factory Outlet Centers by 2.2% in the 4th quarter. BlackRock Inc. now owns 18,684,681 shares of the real estate investment trust’s stock worth $360,240,000 after purchasing an additional 396,562 shares during the last quarter. State Street Corp increased its stake in shares of Tanger Factory Outlet Centers by 3.0% in the 4th quarter. State Street Corp now owns 5,551,704 shares of the real estate investment trust’s stock valued at $107,037,000 after buying an additional 161,242 shares during the period. Moors & Cabot Inc. bought a new stake in shares of Tanger Factory Outlet Centers during the third quarter worth $4,238,000. LSV Asset Management lifted its stake in shares of Tanger Factory Outlet Centers by 4.3% during the first quarter. LSV Asset Management now owns 2,397,297 shares of the real estate investment trust’s stock valued at $41,210,000 after acquiring an additional 99,308 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in Tanger Factory Outlet Centers by 11.0% in the fourth quarter. Nuveen Asset Management LLC now owns 2,111,808 shares of the real estate investment trust’s stock valued at $40,716,000 after acquiring an additional 209,406 shares during the last quarter. 82.24% of the stock is owned by institutional investors and hedge funds.
About Tanger Factory Outlet Centers (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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