Supply Chain Council of European Union | Scceu.org
Operations

Tanger Factory Outlet Centers, Inc. Forecasted to Post FY2021 Earnings of $1.54 Per Share (NYSE:SKT)

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) – KeyCorp lifted their FY2021 earnings per share estimates for Tanger Factory Outlet Centers in a report released on Saturday, February 20th. KeyCorp analyst T. Thomas now expects that the real estate investment trust will post earnings of $1.54 per share for the year, up from their previous estimate of $1.49. KeyCorp also issued estimates for Tanger Factory Outlet Centers’ Q1 2022 earnings at $0.40 EPS, Q2 2022 earnings at $0.36 EPS, Q3 2022 earnings at $0.40 EPS, Q4 2022 earnings at $0.44 EPS and FY2022 earnings at $1.61 EPS.

SKT has been the subject of several other reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on Tanger Factory Outlet Centers from $6.00 to $10.50 in a research note on Tuesday, December 15th. Compass Point raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating and set a $7.50 price objective for the company in a research report on Monday, November 9th. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Saturday, January 16th. Finally, Smith Barney Citigroup boosted their target price on shares of Tanger Factory Outlet Centers from $6.00 to $10.50 in a research note on Tuesday, December 15th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Tanger Factory Outlet Centers has a consensus rating of “Hold” and a consensus price target of $7.91.

SKT stock opened at $15.75 on Tuesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 4.49. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -393.65 and a beta of 2.10. The stock’s fifty day simple moving average is $13.37 and its 200-day simple moving average is $9.02. Tanger Factory Outlet Centers has a 52-week low of $4.05 and a 52-week high of $20.96. Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings data on Wednesday, February 17th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.14). Tanger Factory Outlet Centers had a negative net margin of 0.76% and a negative return on equity of 0.82%.

(Ad)

If you’ve got money invested in the stock market, but are confused as to what to do next…This is the can’t-miss interview of 2021…

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Tanger Factory Outlet Centers by 5.0% during the fourth quarter. BlackRock Inc. now owns 16,438,383 shares of the real estate investment trust’s stock worth $163,726,000 after purchasing an additional 782,284 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Tanger Factory Outlet Centers by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,709,908 shares of the real estate investment trust’s stock valued at $17,031,000 after buying an additional 55,329 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Tanger Factory Outlet Centers by 26.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,352,638 shares of the real estate investment trust’s stock valued at $8,156,000 after buying an additional 279,381 shares during the period. Morgan Stanley increased its holdings in shares of Tanger Factory Outlet Centers by 24.3% in the fourth quarter. Morgan Stanley now owns 1,080,068 shares of the real estate investment trust’s stock worth $10,758,000 after acquiring an additional 211,134 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in Tanger Factory Outlet Centers by 381.0% in the 4th quarter. Royce & Associates LP now owns 1,010,162 shares of the real estate investment trust’s stock worth $10,061,000 after purchasing an additional 800,162 shares during the period. Institutional investors own 73.45% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Shareholders of record on Friday, January 29th were paid a dividend of $0.1775 per share. The ex-dividend date of this dividend was Thursday, January 28th. This represents a $0.71 annualized dividend and a yield of 4.51%. Tanger Factory Outlet Centers’s dividend payout ratio is 31.28%.

About Tanger Factory Outlet Centers

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.

Read More: How to calculate compound interest

Earnings History and Estimates for Tanger Factory Outlet Centers (NYSE:SKT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

7 Stocks to Buy For the Gig Economy

Before the global pandemic, it was referred to as a side hustle—a way for some individuals to make a little extra money. However, as the pandemic has changed the nature of how we work, and as consumers how we spend, the gig economy has become an essential way of life for many workers.

There is much that’s not known about the long-term effects of the pandemic. But if there’s one lesson we learn from history, it’s that there will be ripple effects. We believe that society will get back to something resembling normal. However, what that normal looks like may be different.

Americans were becoming less social since before the pandemic. Now consumers have begun to realize there truly is no reason to leave their house to shop for anything. And while many crave physical connection during these times, there will be many that have changed their purchasing habits for good.

Other elements of the gig economy, such as ride-hailing and home rentals, were devastated due to the pandemic. Those businesses are likely to come back.

And that’s why companies that have created the gig economy aren’t going away anytime soon. In this special report, we’ll highlight several stocks that investors should consider as the gig economy moves forward.

View the “7 Stocks to Buy For the Gig Economy”.

Related posts

Cheesecake Factory settles charges that it misled investors on impact pandemic was having on business

scceu

Tyler McQuarrie Wins FOX Factory 120 Pole

scceu

Serbia’s Bambi Success to build 2.9 mln euro coffee factory

scceu