$0.63 Earnings Per Share Expected for Tanger Factory Outlet Centers Inc. (SKT) This Quarter

Wall Street analysts expect Tanger Factory Outlet Centers Inc. (NYSE:SKT) to post $0.63 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Tanger Factory Outlet Centers’ earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.64. Tanger Factory Outlet Centers reported earnings of $0.61 per share during the same quarter last year, which would indicate a positive year over year growth rate of 3.3%. The business is expected to issue its next earnings report after the market closes on Tuesday, February 13th.

According to Zacks, analysts expect that Tanger Factory Outlet Centers will report full year earnings of $2.07 per share for the current financial year, with EPS estimates ranging from $2.05 to $2.08. For the next fiscal year, analysts expect that the firm will report earnings of $2.51 per share, with EPS estimates ranging from $2.44 to $2.54. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Tanger Factory Outlet Centers.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported ($0.17) EPS for the quarter, missing the Zacks’ 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%.

A number of research analysts have commented on the company. Zacks Investment Research cut Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. ValuEngine cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Bank of America upgraded Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research note on Thursday, November 9th. Citigroup reduced their price objective on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating on the stock in a research note on Friday, November 10th. Finally, Jefferies Group restated a “hold” rating and set a $24.00 price objective on shares of Tanger Factory Outlet Centers in a research note on Friday, December 22nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Tanger Factory Outlet Centers presently has an average rating of “Hold” and a consensus target price of $26.60.

Shares of Tanger Factory Outlet Centers (NYSE SKT) traded up $0.80 on Monday, hitting $25.84. The company’s stock had a trading volume of 1,669,235 shares, compared to its average volume of 1,290,000. The firm has a market capitalization of $2,440.00, a PE ratio of 41.68, a PEG ratio of 3.20 and a beta of 0.52. Tanger Factory Outlet Centers has a 12 month low of $21.81 and a 12 month high of $35.22. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.10 and a current ratio of 0.10.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be paid a $0.343 dividend. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.37 annualized dividend and a dividend yield of 5.31%. Tanger Factory Outlet Centers’s payout ratio is 220.97%.

In related news, CMO Carrie A. Geldner sold 2,250 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total value of $55,125.00. Following the transaction, the chief marketing officer now owns 51,261 shares in the company, valued at $1,255,894.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. lifted its stake in shares of Tanger Factory Outlet Centers by 6.5% in the second quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 303 shares in the last quarter. QS Investors LLC lifted its stake in shares of Tanger Factory Outlet Centers by 10.1% in the second quarter. QS Investors LLC now owns 19,048 shares of the real estate investment trust’s stock worth $495,000 after acquiring an additional 1,745 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Tanger Factory Outlet Centers by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 142,092 shares of the real estate investment trust’s stock worth $3,691,000 after acquiring an additional 2,704 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in shares of Tanger Factory Outlet Centers by 164.2% in the second 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 in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Tanger Factory Outlet Centers by 2.0% in the second quarter. Swiss National Bank now owns 161,200 shares of the real estate investment trust’s stock worth $4,188,000 after acquiring an additional 3,100 shares in the last quarter. Institutional investors and hedge funds own 99.47% 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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