Zacks: Brokerages Expect Tanger Factory Outlet Centers Inc. (SKT) to Post $0.63 EPS

Brokerages predict that Tanger Factory Outlet Centers Inc. (NYSE:SKT) will announce earnings per share of $0.63 for the current quarter, according to Zacks Investment Research. Three analysts have issued 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 posted earnings of $0.61 per share in the same quarter last year, which indicates a positive year over year growth rate of 3.3%. The firm is expected to issue its next earnings report after the market closes on Tuesday, February 13th.

On average, analysts expect that Tanger Factory Outlet Centers will report full-year earnings of $2.07 per share for the current year, with EPS estimates ranging from $2.05 to $2.08. For the next year, analysts forecast that the company will post earnings of $2.51 per share, with EPS estimates ranging from $2.44 to $2.54. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow 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) 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%. The business had revenue of $120.77 million for the quarter, compared to analysts’ expectations of $117.51 million.

Several research analysts have issued reports on SKT shares. Zacks Investment Research downgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Citigroup lowered their target price on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating on the stock in a report on Friday, November 10th. Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, November 9th. Jefferies Group reaffirmed a “hold” rating and issued a $24.00 target price on shares of Tanger Factory Outlet Centers in a report on Friday, December 22nd. Finally, ValuEngine downgraded shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $26.60.

Shares of Tanger Factory Outlet Centers (SKT) traded down $0.80 during trading on Thursday, reaching $22.74. 1,465,614 shares of the company’s stock traded hands, compared to its average volume of 1,490,000. Tanger Factory Outlet Centers has a 52 week low of $21.81 and a 52 week high of $34.88. 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 stock has a market cap of $2,150.00, a P/E ratio of 36.68, a P/E/G ratio of 3.01 and a beta of 0.44.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be issued a $0.343 dividend. This is an increase 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 6.03%. Tanger Factory Outlet Centers’s payout ratio is presently 220.97%.

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

Several large investors have recently modified their holdings of the company. Advisor Group Inc. boosted its holdings in Tanger Factory Outlet Centers by 6.5% during the second quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 303 shares in the last quarter. Capital Advisors Ltd. LLC purchased a new stake in Tanger Factory Outlet Centers during the third quarter worth about $134,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tanger Factory Outlet Centers by 34.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 2,107 shares in the last quarter. Telemus Capital LLC purchased a new stake in Tanger Factory Outlet Centers during the third quarter worth about $244,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Tanger Factory Outlet Centers during the third quarter worth about $289,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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

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