Tanger Factory Outlet Centers, Inc. (NYSE:SKT) – Stock analysts at Boenning Scattergood reduced their Q4 2017 EPS estimates for Tanger Factory Outlet Centers in a research report issued on Thursday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will post earnings per share of $0.63 for the quarter, down from their previous forecast of $0.64. Boenning Scattergood currently has a “Sell” rating and a $25.00 target price on the stock. Boenning Scattergood also issued estimates for Tanger Factory Outlet Centers’ Q3 2018 earnings at $0.63 EPS, Q4 2018 earnings at $0.67 EPS and FY2018 earnings at $2.55 EPS.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.59 EPS for the quarter, beating the consensus estimate of $0.58 by $0.01. Tanger Factory Outlet Centers had a return on equity of 20.75% and a net margin of 29.65%. The company had revenue of $119.60 million for the quarter, compared to analysts’ expectations of $122 million. During the same period last year, the firm posted $0.59 earnings per share. Tanger Factory Outlet Centers’s revenue was up 7.5% compared to the same quarter last year.

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Several other research analysts also recently weighed in on the company. BidaskClub upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Saturday, July 15th. Bank of America Corporation downgraded Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $28.00 to $25.50 in a research note on Friday, June 23rd. Jefferies Group LLC downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and dropped their target price for the stock from $38.00 to $29.00 in a research note on Friday, June 16th. Finally, Citigroup Inc. upgraded Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating in a research note on Monday, June 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $32.43.

Shares of Tanger Factory Outlet Centers (SKT) opened at 26.47 on Monday. The company’s 50 day moving average price is $26.42 and its 200 day moving average price is $30.10. The stock has a market capitalization of $2.52 billion, a PE ratio of 17.58 and a beta of 0.46. Tanger Factory Outlet Centers has a 52-week low of $24.71 and a 52-week high of $41.29.

A number of hedge funds have recently bought and sold shares of the stock. Glen Harbor Capital Management LLC increased its stake in Tanger Factory Outlet Centers by 3.9% in the first quarter. Glen Harbor Capital Management LLC now owns 3,476 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 132 shares during the last quarter. RMR Advisors LLC purchased a new stake in Tanger Factory Outlet Centers during the second quarter valued at $114,000. Elkfork Partners LLC increased its stake in Tanger Factory Outlet Centers by 3.9% in the first quarter. Elkfork Partners LLC now owns 4,424 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 168 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in Tanger Factory Outlet Centers by 3.9% in the first quarter. Meadow Creek Investment Management LLC now owns 5,372 shares of the real estate investment trust’s stock valued at $176,000 after buying an additional 204 shares during the last quarter. Finally, World Asset Management Inc increased its stake in Tanger Factory Outlet Centers by 13.7% in the first quarter. World Asset Management Inc now owns 6,624 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 798 shares during the last quarter. Institutional investors and hedge funds own 94.92% of the company’s stock.

In other Tanger Factory Outlet Centers news, COO Thomas E. Mcdonough sold 10,734 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $26.74, for a total transaction of $287,027.16. Following the sale, the chief operating officer now owns 180,551 shares in the company, valued at approximately $4,827,933.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.10% of the stock is currently owned by insiders.

Tanger Factory Outlet Centers announced that its Board of Directors has approved a share repurchase program on Friday, May 19th that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 54% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.3425 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.37 annualized dividend and a yield of 5.18%. Tanger Factory Outlet Centers’s payout ratio is presently 90.73%.

About Tanger Factory Outlet Centers

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 and Estimates for Tanger Factory Outlet Centers (NYSE:SKT)

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