Tanger Factory Outlet Centers Inc. (SKT) Raises Dividend to $0.34 Per Share
Tanger Factory Outlet Centers Inc. (NYSE:SKT) announced a quarterly dividend on Thursday, January 11th, Zacks reports. Investors of record on Wednesday, January 31st will be paid a dividend of 0.343 per share by the real estate investment trust on Thursday, February 15th. This represents a $1.37 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend is Tuesday, January 30th. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34.
Tanger Factory Outlet Centers has raised its dividend payment by an average of 12.7% per year over the last three years and has increased its dividend every year for the last 25 years. Tanger Factory Outlet Centers has a dividend payout ratio of 56.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tanger Factory Outlet Centers to earn $2.51 per share next year, which means the company should continue to be able to cover its $1.37 annual dividend with an expected future payout ratio of 54.6%.
Shares of Tanger Factory Outlet Centers (NYSE SKT) traded up $0.27 during mid-day trading on Friday, reaching $24.87. The company had a trading volume of 898,400 shares, compared to its average volume of 1,405,875. Tanger Factory Outlet Centers has a 1-year low of $21.81 and a 1-year high of $35.83. The company has a market capitalization of $2,350.00, a PE ratio of 40.11, a PEG ratio of 3.31 and a beta of 0.52. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.10 and a quick ratio of 0.10.
In other Tanger Factory Outlet Centers news, CMO Carrie A. Geldner sold 2,250 shares of the stock in a transaction that occurred 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 directly owns 51,261 shares in the company, valued at approximately $1,255,894.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is currently owned by corporate insiders.
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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.
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