JPMorgan Chase & Co. Reiterates Neutral Rating for Tanger Factory Outlet Centers (SKT)
Tanger Factory Outlet Centers (NYSE:SKT)‘s stock had its “neutral” rating restated by equities researchers at JPMorgan Chase & Co. in a research report issued on Tuesday. They currently have a $38.00 price objective on the stock, up from their previous price objective of $36.00. JPMorgan Chase & Co.’s price target points to a potential upside of 5.23% from the company’s current price.
In other Tanger Factory Outlet Centers news, SVP Charles Allen Worsham unloaded 1,400 shares of Tanger Factory Outlet Centers stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $35.60, for a total value of $49,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Tanger Factory Outlet Centers (NYSE:SKT) traded down 0.91% on Tuesday, hitting $35.78. The stock had a trading volume of 195,810 shares. Tanger Factory Outlet Centers has a one year low of $30.06 and a one year high of $36.77. The stock’s 50-day moving average is $35.74 and its 200-day moving average is $34.2. The company has a market cap of $3.348 billion and a price-to-earnings ratio of 32.21.
Tanger Factory Outlet Centers (NYSE:SKT) last announced its earnings results on Tuesday, April 29th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by $0.02. The company had revenue of $102.84 million for the quarter, compared to the consensus estimate of $99.03 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, analysts predict that Tanger Factory Outlet Centers will post $1.95 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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