Tanger Factory Outlet Centers, Inc. (NYSE:SKT) is set to post its quarterly earnings results after the market closes on Tuesday, August 1st. Analysts expect Tanger Factory Outlet Centers to post earnings of $0.24 per share for the quarter. Tanger Factory Outlet Centers has set its FY17 guidance at $2.40-2.45 EPS.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.35. Tanger Factory Outlet Centers had a return on equity of 27.05% and a net margin of 39.32%. The firm had revenue of $121.37 million for the quarter, compared to analysts’ expectations of $122.59 million. During the same period last year, the firm earned $0.56 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts expect Tanger Factory Outlet Centers to post $2.41 EPS for the current fiscal year and $2.55 EPS for the next fiscal year.

Shares of Tanger Factory Outlet Centers, Inc. (SKT) opened at 27.14 on Tuesday. The stock has a market cap of $2.58 billion, a P/E ratio of 13.85 and a beta of 0.45. Tanger Factory Outlet Centers, Inc. has a 1-year low of $24.71 and a 1-year high of $42.20. The company’s 50-day moving average is $26.23 and its 200 day moving average is $30.49.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Thursday, July 27th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 69.90%.

Tanger Factory Outlet Centers announced that its board has initiated a stock buyback program on Friday, May 19th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase up to 54% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Several analysts recently issued reports on SKT shares. Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Wednesday, March 29th. ValuEngine downgraded shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Citigroup Inc. raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating in a report on Monday, June 12th. Jefferies Group LLC downgraded shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and reduced their price target for the company from $38.00 to $29.00 in a report on Friday, June 16th. Finally, Bank of America Corporation downgraded shares of Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $28.00 to $25.50 in a report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.71.

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In related news, Director Allan L. Schuman sold 32,930 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $28.52, for a total transaction of $939,163.60. Following the transaction, the director now owns 43,953 shares of the company’s stock, valued at approximately $1,253,539.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chad Perry sold 8,000 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $27.57, for a total transaction of $220,560.00. Following the transaction, the executive vice president now directly owns 78,112 shares in the company, valued at approximately $2,153,547.84. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

Earnings History for Tanger Factory Outlet Centers (NYSE:SKT)

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