Tanger Factory Outlet Centers Inc. Declares Quarterly Dividend of $0.36 (NYSE:SKT)

Tanger Factory Outlet Centers Inc. (NYSE:SKT) announced a quarterly dividend on Thursday, July 11th, Zacks reports. Investors of record on Wednesday, July 31st will be given a dividend of 0.355 per share by the real estate investment trust on Thursday, August 15th. This represents a $1.42 dividend on an annualized basis and a yield of 8.69%. The ex-dividend date is Tuesday, July 30th.

Tanger Factory Outlet Centers stock opened at $16.34 on Friday. The stock has a market capitalization of $1.54 billion, a P/E ratio of 6.59 and a beta of 0.64. The company’s fifty day simple moving average is $16.57. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 3.33. Tanger Factory Outlet Centers has a 52-week low of $15.48 and a 52-week high of $24.91.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.09. Tanger Factory Outlet Centers had a net margin of 16.76% and a return on equity of 15.71%. The business had revenue of $123.16 million for the quarter, compared to analysts’ expectations of $122.16 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tanger Factory Outlet Centers will post 2.23 EPS for the current year.

In other news, SVP Carrie A. Warren sold 6,878 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $18.06, for a total value of $124,216.68. Following the transaction, the senior vice president now directly owns 50,623 shares in the company, valued at $914,251.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Virginia R. Summerell sold 20,604 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $18.18, for a total transaction of $374,580.72. The disclosure for this sale can be found here. Insiders have sold 31,482 shares of company stock worth $573,427 in the last quarter. Company insiders own 2.30% of the company’s stock.

A number of research firms have weighed in on SKT. Boenning Scattergood began coverage on shares of Tanger Factory Outlet Centers in a research report on Monday, March 25th. They set an “outperform” rating and a $27.00 price objective on the stock. Goldman Sachs Group upgraded shares of MICHELIN COMPAG/ADR from a “neutral” rating to a “buy” rating in a research report on Thursday, May 9th. Citigroup reiterated a “buy” rating on shares of Healthequity in a research report on Friday, June 28th. Zacks Investment Research cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Four research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Tanger Factory Outlet Centers presently has a consensus rating of “Hold” and a consensus price target of $21.00.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 40 upscale outlet shopping centers. Tanger's operating properties are located in 20 states coast to coast and in Canada, totaling approximately 14.4 million square feet leased to over 2,900 stores operated by more than 500 different brand name companies.

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Dividend History for Tanger Factory Outlet Centers (NYSE:SKT)

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