Wall Street brokerages forecast that Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) will post $0.42 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Tanger Factory Outlet Centers’ earnings. The highest EPS estimate is $0.44 and the lowest is $0.41. Tanger Factory Outlet Centers posted earnings of $0.43 per share in the same quarter last year, which would indicate a negative year over year growth rate of 2.3%. The company is scheduled to announce its next earnings report on Monday, January 1st.
On average, analysts expect that Tanger Factory Outlet Centers will report full-year earnings of $1.74 per share for the current year, with EPS estimates ranging from $1.73 to $1.75. For the next year, analysts anticipate that the firm will report earnings of $1.79 per share, with EPS estimates ranging from $1.79 to $1.80. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Tanger Factory Outlet Centers.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.21). The business had revenue of $108.87 million for the quarter, compared to analysts’ expectations of $101.62 million. Tanger Factory Outlet Centers had a return on equity of 5.04% and a net margin of 5.84%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS.
SKT has been the subject of several research reports. StockNews.com assumed coverage on shares of Tanger Factory Outlet Centers in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday. 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 company. Based on data from MarketBeat, Tanger Factory Outlet Centers presently has a consensus rating of “Hold” and an average target price of $17.00.
In other Tanger Factory Outlet Centers news, CAO Thomas Joseph Guerrieri, Jr. sold 2,000 shares of the business’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $17.25, for a total value of $34,500.00. Following the transaction, the chief accounting officer now directly owns 45,894 shares of the company’s stock, valued at approximately $791,671.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Reddin sold 10,000 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $18.00, for a total transaction of $180,000.00. Following the sale, the director now owns 45,654 shares in the company, valued at $821,772. The disclosure for this sale can be found here. 5.80% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tompkins Financial Corp lifted its stake in Tanger Factory Outlet Centers by 87.5% during the first quarter. Tompkins Financial Corp now owns 1,500 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 700 shares during the last quarter. Cyrus J. Lawrence LLC bought a new position in Tanger Factory Outlet Centers during the first quarter worth $28,000. Baldwin Brothers LLC MA bought a new position in Tanger Factory Outlet Centers during the first quarter worth $34,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Tanger Factory Outlet Centers by 299.8% during the fourth 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 during the last quarter. Finally, Neo Ivy Capital Management bought a new position in Tanger Factory Outlet Centers during the fourth quarter worth $63,000. 82.24% of the stock is owned by hedge funds and other institutional investors.
NYSE SKT traded down $0.34 on Wednesday, reaching $17.17. The company had a trading volume of 844,616 shares, compared to its average volume of 1,124,789. The firm’s 50 day moving average price is $17.26 and its 200 day moving average price is $17.99. Tanger Factory Outlet Centers has a 12 month low of $15.51 and a 12 month high of $22.51. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 2.74. The stock has a market capitalization of $1.79 billion, a PE ratio of 78.05, a price-to-earnings-growth ratio of 1.25 and a beta of 1.77.
The company also recently disclosed 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. 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 yield of 4.66%. The ex-dividend date of this dividend was Thursday, April 28th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 363.65%.
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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