Shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) have been given a consensus recommendation of “Hold” by the ten brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $27.50.
SKT has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Jefferies Group reaffirmed a “hold” rating and set a $26.00 price objective on shares of Tanger Factory Outlet Centers in a research report on Thursday, September 21st. Citigroup cut their price objective on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research report on Friday, November 10th. Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, November 9th. Finally, ValuEngine downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st.
In other 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 value of $55,125.00. Following the completion of the transaction, the chief marketing officer now owns 51,261 shares of the company’s stock, valued at $1,255,894.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is currently owned by insiders.
Tanger Factory Outlet Centers (NYSE:SKT) traded down $0.25 on Friday, reaching $24.89. 995,500 shares of the company traded hands, compared to its average volume of 1,303,150. Tanger Factory Outlet Centers has a 1-year low of $21.81 and a 1-year high of $35.80. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market capitalization of $2,350.00, a PE ratio of 40.15, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52.
Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported ($0.17) earnings per share 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%. sell-side analysts anticipate that Tanger Factory Outlet Centers will post 2.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.343 per share. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, January 30th. This represents a $1.37 annualized dividend and a yield of 5.51%. Tanger Factory Outlet Centers’s payout ratio is presently 220.97%.
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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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