Analysts expect Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) to announce sales of $101.32 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Tanger Factory Outlet Centers’ earnings, with the lowest sales estimate coming in at $100.92 million and the highest estimate coming in at $101.71 million. Tanger Factory Outlet Centers posted sales of $96.82 million in the same quarter last year, which suggests a positive year over year growth rate of 4.6%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Tanger Factory Outlet Centers will report full year sales of $418.07 million for the current financial year, with estimates ranging from $414.33 million to $421.81 million. For the next year, analysts forecast that the firm will post sales of $425.98 million, with estimates ranging from $420.36 million to $431.59 million. Zacks’ sales 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 released its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.19 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 the consensus estimate of $101.62 million. Tanger Factory Outlet Centers had a return on equity of 5.07% and a net margin of 5.84%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the business posted $0.40 earnings per share.
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Several research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Tanger Factory Outlet Centers in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research downgraded shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Tanger Factory Outlet Centers currently has an average rating of “Hold” and a consensus price target of $16.50.
SKT opened at $17.41 on Friday. The company has a 50 day moving average of $17.11 and a 200 day moving average of $18.20. The company has a market cap of $1.82 billion, a PE ratio of 79.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.77. Tanger Factory Outlet Centers has a 12 month low of $15.45 and a 12 month high of $22.51. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.80.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, April 29th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.60%. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, April 28th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 363.65%.
In other Tanger Factory Outlet Centers news, CAO Thomas Joseph Guerrieri, Jr. sold 2,000 shares of the firm’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 completion of 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 legal filing with the SEC, which can be accessed through the SEC website. 5.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG lifted its holdings in shares of Tanger Factory Outlet Centers by 31.2% during the 3rd quarter. UBS Group AG now owns 360,900 shares of the real estate investment trust’s stock worth $5,883,000 after acquiring an additional 85,750 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Tanger Factory Outlet Centers by 9.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 225,496 shares of the real estate investment trust’s stock worth $3,676,000 after acquiring an additional 19,516 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Tanger Factory Outlet Centers during the 4th quarter worth $413,000. Swiss National Bank lifted its holdings in shares of Tanger Factory Outlet Centers by 8.0% during the 3rd quarter. Swiss National Bank now owns 222,700 shares of the real estate investment trust’s stock worth $3,630,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Harvest Investment Services LLC raised its position in Tanger Factory Outlet Centers by 47.3% in the 4th quarter. Harvest Investment Services LLC now owns 25,519 shares of the real estate investment trust’s stock worth $492,000 after purchasing an additional 8,199 shares during the period. 82.24% of the stock is owned by institutional investors.
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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