Equities research analysts expect Tanger Factory Outlet Centers, Inc. (NYSE:SKT) to report sales of $92.08 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Tanger Factory Outlet Centers’ earnings. The lowest sales estimate is $90.42 million and the highest is $93.73 million. Tanger Factory Outlet Centers posted sales of $116.56 million during the same quarter last year, which suggests a negative year over year growth rate of 21%. The company is expected to issue its next quarterly earnings report on Monday, January 25th.
On average, analysts expect that Tanger Factory Outlet Centers will report full-year sales of $357.47 million for the current year, with estimates ranging from $346.01 million to $368.93 million. For the next financial year, analysts anticipate that the firm will post sales of $374.20 million, with estimates ranging from $363.73 million to $384.66 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Tanger Factory Outlet Centers.
Several research firms have issued reports on SKT. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on Tanger Factory Outlet Centers from $6.00 to $10.50 in a research note on Tuesday, December 15th. Smith Barney Citigroup upped their price objective on Tanger Factory Outlet Centers from $6.00 to $10.50 in a research note on Tuesday, December 15th. KeyCorp upgraded Tanger Factory Outlet Centers from an “underweight” rating to a “sector weight” rating in a research note on Monday, September 21st. Compass Point upgraded Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating and set a $7.50 target price on the stock in a research note on Monday, November 9th. Finally, BidaskClub upgraded Tanger Factory Outlet Centers from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $7.91.
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Hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd raised its stake in Tanger Factory Outlet Centers by 193.8% in the third quarter. Point72 Hong Kong Ltd now owns 4,577 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 3,019 shares in the last quarter. Sandy Spring Bank increased its stake in shares of Tanger Factory Outlet Centers by 450.0% during the second quarter. Sandy Spring Bank now owns 5,500 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 4,500 shares in the last quarter. Eii Capital Management Inc. bought a new position in shares of Tanger Factory Outlet Centers during the third quarter valued at approximately $55,000. Nissay Asset Management Corp Japan ADV bought a new position in shares of Tanger Factory Outlet Centers during the third quarter valued at approximately $64,000. Finally, Magnus Financial Group LLC bought a new position in shares of Tanger Factory Outlet Centers during the second quarter valued at approximately $100,000. 79.34% of the stock is owned by institutional investors.
NYSE:SKT opened at $10.53 on Friday. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 5.96. The stock’s 50 day moving average price is $9.00 and its two-hundred day moving average price is $7.16. The firm has a market capitalization of $984.06 million, a price-to-earnings ratio of 150.45 and a beta of 1.78. Tanger Factory Outlet Centers has a 12-month low of $4.05 and a 12-month high of $16.93.
Tanger Factory Outlet Centers Company Profile
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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