Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $1.71-$1.79 for the period. The company issued revenue guidance of -.
Shares of SKT traded up $0.45 during trading hours on Monday, hitting $17.59. The company’s stock had a trading volume of 71,130 shares, compared to its average volume of 1,026,426. The company has a 50 day moving average price of $17.05. Tanger Factory Outlet Centers has a 52-week low of $15.45 and a 52-week 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 has a market cap of $1.84 billion, a P/E ratio of 77.91, a price-to-earnings-growth ratio of 1.18 and a beta of 1.77.
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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). Tanger Factory Outlet Centers had a net margin of 5.84% and a return on equity of 5.07%. The business had revenue of $108.87 million during the quarter, compared to analysts’ expectations of $101.62 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Tanger Factory Outlet Centers will post 1.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, April 29th will be issued a dividend of $0.20 per share. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, April 28th. This represents a $0.80 dividend on an annualized basis and a yield of 4.55%. Tanger Factory Outlet Centers’s payout ratio is presently 363.65%.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a buy rating to a hold rating in a report on Wednesday, May 4th. StockNews.com began coverage on shares of Tanger Factory Outlet Centers in a report on Thursday, March 31st. They set a hold rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Tanger Factory Outlet Centers has an average rating of Hold and an average target price of $16.50.
In other news, CAO Thomas Joseph Guerrieri, Jr. sold 2,000 shares of the company’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 owns 45,894 shares of the company’s stock, valued at $791,671.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management purchased a new stake in Tanger Factory Outlet Centers during the fourth quarter valued at about $63,000. Royal Bank of Canada boosted its position in Tanger Factory Outlet Centers by 69.4% during the third quarter. Royal Bank of Canada now owns 23,820 shares of the real estate investment trust’s stock valued at $388,000 after buying an additional 9,762 shares during the period. Millennium Management LLC purchased a new stake in Tanger Factory Outlet Centers during the third quarter valued at about $461,000. Allstate Corp purchased a new stake in Tanger Factory Outlet Centers during the fourth quarter valued at about $728,000. Finally, State of Tennessee Treasury Department boosted its position in Tanger Factory Outlet Centers by 1.1% during the fourth quarter. State of Tennessee Treasury Department now owns 58,755 shares of the real estate investment trust’s stock valued at $1,133,000 after buying an additional 659 shares during the period. 82.24% of the stock is currently owned by institutional investors and hedge funds.
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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