Equities research analysts expect Tanger Factory Outlet Centers, Inc. (NYSE:SKT) to post $0.26 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Tanger Factory Outlet Centers’ earnings. Tanger Factory Outlet Centers posted earnings per share of $0.72 in the same quarter last year, which would indicate a negative year over year growth rate of 63.9%. The business is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, November 7th.

On average, analysts expect that Tanger Factory Outlet Centers will report full year earnings of $2.06 per share for the current year, with EPS estimates ranging from $2.05 to $2.07. For the next financial year, analysts forecast that the company will post earnings of $2.54 per share, with EPS estimates ranging from $2.49 to $2.57. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Tanger Factory Outlet Centers.

Tanger Factory Outlet Centers (NYSE:SKT) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The business had revenue of $119.60 million for the quarter, compared to the consensus estimate of $122.00 million. Tanger Factory Outlet Centers had a return on equity of 20.75% and a net margin of 29.65%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 earnings per share.

SKT has been the topic of several research analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $26.00 price target on shares of Tanger Factory Outlet Centers in a research note on Thursday, September 21st. BidaskClub raised Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. KeyCorp reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Friday, August 25th. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Finally, Boenning Scattergood set a $25.00 price target on Tanger Factory Outlet Centers and gave the stock a “sell” rating in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $30.50.

In other Tanger Factory Outlet Centers news, COO Thomas E. Mcdonough sold 10,734 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $26.74, for a total value of $287,027.16. Following the completion of the transaction, the chief operating officer now directly owns 180,551 shares in the company, valued at approximately $4,827,933.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Carrie A. Geldner sold 1,800 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $24.18, for a total value of $43,524.00. Following the completion of the transaction, the senior vice president now owns 53,511 shares of the company’s stock, valued at $1,293,895.98. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. raised its holdings in Tanger Factory Outlet Centers by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 303 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Tanger Factory Outlet Centers by 3.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,105 shares of the real estate investment trust’s stock valued at $331,000 after acquiring an additional 344 shares during the last quarter. BB&T Securities LLC raised its holdings in Tanger Factory Outlet Centers by 6.2% in the 2nd quarter. BB&T Securities LLC now owns 8,575 shares of the real estate investment trust’s stock valued at $222,000 after acquiring an additional 501 shares during the last quarter. Utah Retirement Systems raised its holdings in Tanger Factory Outlet Centers by 2.8% in the 2nd quarter. Utah Retirement Systems now owns 21,773 shares of the real estate investment trust’s stock valued at $566,000 after acquiring an additional 588 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Tanger Factory Outlet Centers by 9.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,513 shares of the real estate investment trust’s stock valued at $246,000 after acquiring an additional 649 shares during the last quarter. Institutional investors own 95.72% of the company’s stock.

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Tanger Factory Outlet Centers (SKT) traded down 1.10% during trading on Tuesday, hitting $25.08. The stock had a trading volume of 1,034,528 shares. Tanger Factory Outlet Centers has a 12-month low of $23.06 and a 12-month high of $37.34. The stock’s 50 day moving average price is $24.76 and its 200 day moving average price is $26.49. The firm has a market cap of $2.38 billion, a P/E ratio of 16.65 and a beta of 0.49.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be paid a $0.3425 dividend. This represents a $1.37 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date of this dividend is Monday, October 30th. Tanger Factory Outlet Centers’s payout ratio is currently 90.73%.

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.

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

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