Tanger Factory Outlet Centers Inc. (NYSE:SKT) – Stock analysts at Jefferies Group lowered their FY2018 earnings estimates for shares of Tanger Factory Outlet Centers in a report issued on Tuesday. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings of $2.44 per share for the year, down from their previous forecast of $2.45. Jefferies Group currently has a “Hold” rating and a $24.00 target price on the stock. Jefferies Group also issued estimates for Tanger Factory Outlet Centers’ FY2019 earnings at $2.48 EPS.

A number of other analysts have also weighed in on SKT. Zacks Investment Research lowered Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Boenning Scattergood raised Tanger Factory Outlet Centers from an “under perform” rating to a “neutral” rating in a research note on Friday, November 3rd. Bank of America raised Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research note on Thursday, November 9th. Citigroup dropped their price objective on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research note on Friday, November 10th. Finally, ValuEngine lowered Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $26.60.

Shares of Tanger Factory Outlet Centers (NYSE SKT) traded down $0.40 on Wednesday, reaching $24.73. The company’s stock had a trading volume of 1,141,100 shares, compared to its average volume of 1,352,340. The stock has a market capitalization of $2,340.00, a price-to-earnings ratio of 39.89, a P/E/G ratio of 3.21 and a beta of 0.52. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.10 and a current ratio of 0.10. Tanger Factory Outlet Centers has a 1-year low of $21.81 and a 1-year high of $35.83.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Tuesday, November 7th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.77). Tanger Factory Outlet Centers had a return on equity of 8.98% and a net margin of 12.34%.

Several institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of Tanger Factory Outlet Centers by 7.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,040,024 shares of the real estate investment trust’s stock valued at $27,572,000 after acquiring an additional 71,863 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Tanger Factory Outlet Centers by 12.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 45,200 shares of the real estate investment trust’s stock worth $1,198,000 after purchasing an additional 5,000 shares in the last quarter. Dean Investment Associates LLC raised its holdings in Tanger Factory Outlet Centers by 9.1% in the third quarter. Dean Investment Associates LLC now owns 283,853 shares of the real estate investment trust’s stock worth $6,932,000 after purchasing an additional 23,783 shares in the last quarter. Eii Capital Management Inc. bought a new position in Tanger Factory Outlet Centers in the third quarter worth $605,000. Finally, Ameritas Investment Partners Inc. raised its holdings in Tanger Factory Outlet Centers by 29.6% in the third quarter. Ameritas Investment Partners Inc. now owns 36,776 shares of the real estate investment trust’s stock worth $868,000 after purchasing an additional 8,400 shares in the last quarter.

In related news, CMO Carrie A. Geldner sold 2,250 shares of the company’s 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 completion of the transaction, the chief marketing officer now owns 51,261 shares in the company, valued at $1,255,894.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.80% of the stock is owned by corporate insiders.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be issued a dividend of $0.343 per share. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date is Tuesday, January 30th. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. Tanger Factory Outlet Centers’s dividend payout ratio is currently 220.97%.

ILLEGAL ACTIVITY WARNING: This piece was posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be read at https://www.americanbankingnews.com/2018/01/17/fy2018-eps-estimates-for-tanger-factory-outlet-centers-inc-skt-lowered-by-analyst.html.

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.

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

Receive News & Ratings for Tanger Factory Outlet Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger Factory Outlet Centers and related companies with MarketBeat.com's FREE daily email newsletter.