Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) declared a quarterly dividend on Friday, July 15th, Zacks reports. Investors of record on Friday, July 29th will be paid a dividend of 0.20 per share by the real estate investment trust on Monday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date is Thursday, July 28th.
Tanger Factory Outlet Centers has decreased its dividend by an average of 19.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Tanger Factory Outlet Centers has a dividend payout ratio of 111.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Tanger Factory Outlet Centers to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 44.9%.
Tanger Factory Outlet Centers Stock Up 1.7 %
Shares of SKT stock opened at $14.80 on Friday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 2.63 and a current ratio of 2.63. The stock’s 50 day simple moving average is $15.88 and its 200 day simple moving average is $16.87. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 67.28, a PEG ratio of 1.02 and a beta of 1.78. Tanger Factory Outlet Centers has a twelve month low of $13.77 and a twelve month high of $22.51.
Ad Vantage Point
A.I. Powered Stock Watchlist Now Available [Live]
Headlines claim that certain stocks are flying as China loosens its quarantine rules. But forget what you’re reading.
There’s a smarter and more efficient method to identify new trade opportunities like this in a couple clicks using artificial intelligence.
Spots are limited.
Save your seat now!
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last issued its earnings results 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). Tanger Factory Outlet Centers had a return on equity of 5.04% and a net margin of 5.84%. The business had revenue of $108.87 million for the quarter, compared to the consensus estimate of $101.62 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts predict that Tanger Factory Outlet Centers will post 1.75 EPS for the current year.
Analyst Upgrades and Downgrades
SKT has been the subject of several research analyst reports. Compass Point reduced their target price on Tanger Factory Outlet Centers from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, June 22nd. StockNews.com initiated coverage on Tanger Factory Outlet Centers in a research note on Thursday, March 31st. They set a “hold” rating for the company.
Insider Buying and Selling at Tanger Factory Outlet Centers
In other Tanger Factory Outlet Centers news, Director Thomas Reddin sold 10,000 shares of Tanger Factory Outlet Centers stock in a transaction on Monday, May 16th. The stock was sold at an average price of $18.00, for a total value of $180,000.00. Following the completion of the transaction, the director now directly owns 45,654 shares of the company’s stock, valued at approximately $821,772. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.
Institutional Investors Weigh In On Tanger Factory Outlet Centers
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers grew its position in shares of Tanger Factory Outlet Centers by 3.2% in the 1st quarter. Rhumbline Advisers now owns 350,524 shares of the real estate investment trust’s stock valued at $6,026,000 after buying an additional 10,789 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Tanger Factory Outlet Centers by 2.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 177,139 shares of the real estate investment trust’s stock worth $3,139,000 after buying an additional 3,486 shares during the period. First Trust Advisors LP raised its stake in Tanger Factory Outlet Centers by 48.5% during the 1st quarter. First Trust Advisors LP now owns 180,745 shares of the real estate investment trust’s stock worth $3,107,000 after buying an additional 59,039 shares during the period. Allianz Asset Management GmbH raised its stake in Tanger Factory Outlet Centers by 26.8% during the 1st quarter. Allianz Asset Management GmbH now owns 153,600 shares of the real estate investment trust’s stock worth $2,640,000 after buying an additional 32,467 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Tanger Factory Outlet Centers by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 89,645 shares of the real estate investment trust’s stock worth $1,541,000 after buying an additional 11,053 shares during the period. Institutional investors own 82.24% of the company’s stock.
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.
Recommended Stories
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].
Should you invest $1,000 in Tanger Factory Outlet Centers right now?
Before you consider Tanger Factory Outlet Centers, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Tanger Factory Outlet Centers wasn’t on the list.
While Tanger Factory Outlet Centers currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
