Tanger Factory Outlet Centers (SKT) Issues FY18 Earnings Guidance

Tanger Factory Outlet Centers (NYSE:SKT) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.43-2.49 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.51.

Tanger Factory Outlet Centers (NYSE:SKT) traded up $0.19 on Tuesday, reaching $23.47. The company had a trading volume of 1,374,942 shares, compared to its average volume of 1,572,454. The company has a market capitalization of $2,190.00, a PE ratio of 37.82, a PEG ratio of 2.92 and a beta of 0.44. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.91. Tanger Factory Outlet Centers has a 1-year low of $21.81 and a 1-year high of $34.76.

The company also recently announced 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 represents a $1.37 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date is Tuesday, January 30th. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. Tanger Factory Outlet Centers’s dividend payout ratio is currently 220.97%.

A number of research analysts recently commented on SKT shares. Zacks Investment Research cut Tanger Factory Outlet Centers from a hold rating to a sell rating in a research note on Wednesday, October 25th. Boenning Scattergood reaffirmed a hold rating on shares of Tanger Factory Outlet Centers in a research note on Thursday, November 9th. Jefferies Group reaffirmed 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. ValuEngine cut Tanger Factory Outlet Centers from a buy rating to a hold rating in a research note on Sunday, December 31st. Finally, 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. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Tanger Factory Outlet Centers has a consensus rating of Hold and an average target price of $26.60.

In other news, CMO Carrie A. Geldner sold 2,250 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,255,894.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.80% of the stock is currently owned by company 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.

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

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