Wall Street brokerages predict that Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) will announce earnings of $0.40 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Tanger Factory Outlet Centers’ earnings, with estimates ranging from $0.38 to $0.42. Tanger Factory Outlet Centers also posted earnings of $0.40 per share in the same quarter last year. The business is scheduled to issue its next quarterly earnings report on Wednesday, May 4th.
On average, 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 anticipate that the business will post earnings of $1.79 per share, with EPS estimates ranging from $1.77 to $1.80. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Tanger Factory Outlet Centers.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last released its quarterly earnings results on Wednesday, February 16th. The real estate investment trust reported $0.12 EPS for the quarter, missing the Thomson Reuters’ 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 firm posted $0.54 EPS.
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Separately, Zacks Investment Research raised Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Friday, February 25th. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.17.
A number of institutional investors have recently bought and sold shares of SKT. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Tanger Factory Outlet Centers by 299.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,175 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 1,631 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Tanger Factory Outlet Centers in the fourth quarter valued at $63,000. Van ECK Associates Corp lifted its position in shares of Tanger Factory Outlet Centers by 19.2% in the third quarter. Van ECK Associates Corp now owns 4,770 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 769 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in shares of Tanger Factory Outlet Centers by 92.0% in the third quarter. Eagle Bay Advisors LLC now owns 4,800 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of Tanger Factory Outlet Centers in the third quarter valued at $81,000. 79.03% of the stock is currently owned by institutional investors.
Shares of SKT stock opened at $16.93 on Friday. The business’s fifty day moving average price is $17.57 and its 200 day moving average price is $18.11. Tanger Factory Outlet Centers has a 1-year low of $14.89 and a 1-year high of $22.51. The firm has a market capitalization of $1.76 billion, a PE ratio of 241.89, a P/E/G ratio of 1.17 and a beta of 1.87. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.73 and a quick ratio of 1.73.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 15th. Shareholders of record on Monday, January 31st were issued a $0.183 dividend. This represents a $0.73 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Friday, January 28th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is 1,043.01%.
About Tanger Factory Outlet Centers (Get Rating)
Tanger Factory Outlet Centers, Inc is a fully-integrated, self-administered and self-managed real estate investment trust. It focuses on developing, acquiring, owning, operating and managing outlet shopping centers. The company was founded by Stanley K. Tanger in 1981 and is headquartered in Greensboro, NC.
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