Tanger Factory Outlet Centers Inc. (SKT) Plans Quarterly Dividend of $0.23
Tanger Factory Outlet Centers (NYSE:SKT) announced a quarterly dividend on Thursday, October 10th, American Banking News reports. Shareholders of record on Wednesday, October 30th will be paid a dividend of $0.225 per share on Friday, November 15th. This represents a $0.90 annualized dividend and a dividend yield of 2.74%.
SKT has been the subject of a number of recent research reports. Analysts at RBC Capital reiterated an “outperform” rating on shares of Tanger Factory Outlet Centers in a research note to investors on Friday, September 27th. They now have a $32.78 price target on the stock. On the ratings front, analysts at Jefferies Group downgraded shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, September 18th. They now have a $35.00 price target on the stock, down previously from $40.00. Finally, analysts at Bank of America Corp. downgraded shares of Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating in a research note to investors on Friday, August 9th. They now have a $36.00 price target on the stock, down previously from $41.00. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.05.
Shares of Tanger Factory Outlet Centers (NYSE:SKT) opened at 33.16 on Thursday. Tanger Factory Outlet Centers has a 1-year low of $30.06 and a 1-year high of $39.45. The stock has a 50-day moving average of $32.12 and a 200-day moving average of $34.35. The company has a market cap of $3.095 billion and a P/E ratio of 47.19.
Tanger Factory Outlet Centers (NYSE:SKT) last released its earnings data on Tuesday, July 30th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.01. The company had revenue of $91.00 million for the quarter, compared to the consensus estimate of $89.26 million. During the same quarter last year, the company posted $0.39 earnings per share. Tanger Factory Outlet Centers’s revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that Tanger Factory Outlet Centers will post $1.81 earnings per share for the current fiscal year.
Tanger Factory Outlet Centers, Inc is a fully integrated, self-administered and self-managed real estate investment trust (NYSE:SKT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.
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