Tanger Factory Outlet Centers, Inc. (SKT) to Release Earnings on Tuesday
Tanger Factory Outlet Centers, Inc. (NYSE:SKT) is scheduled to release its earnings data after the market closes on Tuesday, November 7th. Analysts expect Tanger Factory Outlet Centers to post earnings of ($0.11) per share for the quarter.
Tanger Factory Outlet Centers (NYSE:SKT) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $119.60 million for the quarter, compared to analyst estimates of $122.00 million. During the same period last year, the company earned $0.59 EPS. The firm’s quarterly revenue was up 7.5% 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 $2.54 EPS for the next fiscal year.
Shares of Tanger Factory Outlet Centers, Inc. (SKT) opened at 23.01 on Tuesday. The firm has a 50-day moving average price of $24.72 and a 200-day moving average price of $26.17. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 15.28 and a beta of 0.49. Tanger Factory Outlet Centers, Inc. has a 52 week low of $22.65 and a 52 week high of $37.34.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be given a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend is Monday, October 30th. Tanger Factory Outlet Centers’s payout ratio is 90.73%.
In other Tanger Factory Outlet Centers news, SVP Carrie A. Geldner sold 1,800 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $24.18, for a total value of $43,524.00. Following the transaction, the senior vice president now directly owns 53,511 shares of the company’s stock, valued at approximately $1,293,895.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.80% of the company’s stock.
Several research analysts recently weighed in on the company. Zacks Investment Research lowered Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Jefferies Group LLC reissued a “hold” rating and set a $26.00 price target on shares of Tanger Factory Outlet Centers in a research report on Thursday, September 21st. KeyCorp reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Friday, August 25th. BidaskClub lowered Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Finally, Boenning Scattergood set a $25.00 price target on Tanger Factory Outlet Centers and gave the company a “sell” rating in a research report on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.60.
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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