Tanger Factory Outlet Centers Inc. (SKT) Expected to Announce Quarterly Sales of $122.67 Million

Brokerages predict that Tanger Factory Outlet Centers Inc. (NYSE:SKT) will announce sales of $122.67 million for the current quarter, according to Zacks. Three analysts have made estimates for Tanger Factory Outlet Centers’ earnings. The lowest sales estimate is $120.55 million and the highest is $125.26 million. Tanger Factory Outlet Centers posted sales of $124.56 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.5%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, February 13th.

On average, analysts expect that Tanger Factory Outlet Centers will report full year sales of $122.67 million for the current financial year, with estimates ranging from $473.61 million to $480.37 million. For the next financial year, analysts expect that the company will post sales of $481.89 million per share, with estimates ranging from $476.36 million to $491.11 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Tanger Factory Outlet Centers.

Several research analysts recently commented on SKT shares. Jefferies Group 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. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. ValuEngine cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, November 9th. Finally, Bank of America raised Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Tanger Factory Outlet Centers currently has a consensus rating of “Hold” and an average price target of $26.60.

Tanger Factory Outlet Centers (NYSE:SKT) opened at $25.92 on Friday. Tanger Factory Outlet Centers has a 52-week low of $21.81 and a 52-week high of $37.34. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.91. The company has a market capitalization of $2,422.76, a P/E ratio of 41.81, a P/E/G ratio of 3.28 and a beta of 0.52.

In other Tanger Factory Outlet Centers news, CMO Carrie A. Geldner sold 2,250 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total transaction of $55,125.00. Following the transaction, the chief marketing officer now owns 51,261 shares in the company, valued at approximately $1,255,894.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.80% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of SKT. Advisor Group Inc. increased its stake in shares of 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 purchasing an additional 303 shares during the last quarter. Salem Investment Counselors Inc. grew its position in Tanger Factory Outlet Centers by 164.2% during the 2nd quarter. Salem Investment Counselors Inc. now owns 4,900 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 3,045 shares during the last quarter. Capital Advisors Ltd. LLC bought a new stake in Tanger Factory Outlet Centers during the 3rd quarter worth $134,000. Riverhead Capital Management LLC grew its position in Tanger Factory Outlet Centers by 101.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,859 shares of the real estate investment trust’s stock worth $204,000 after acquiring an additional 3,959 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Tanger Factory Outlet Centers by 18.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 8,871 shares of the real estate investment trust’s stock worth $230,000 after acquiring an additional 1,358 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

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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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