Tanger Factory Outlet Centers (SKT) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Tanger Factory Outlet Centers (NYSE:SKT) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05, Yahoo Finance reports. Tanger Factory Outlet Centers had a return on equity of 10.27% and a net margin of 13.80%. The business had revenue of $126.49 million for the quarter, compared to the consensus estimate of $122.67 million. Tanger Factory Outlet Centers updated its FY18 guidance to $2.43-2.49 EPS.

Tanger Factory Outlet Centers (NYSE:SKT) opened at $21.81 on Thursday. Tanger Factory Outlet Centers has a 1 year low of $21.14 and a 1 year high of $34.76. The stock has a market capitalization of $2,218.58, a price-to-earnings ratio of 31.16, a PEG ratio of 3.00 and a beta of 0.44. 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 company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.343 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a dividend yield of 6.29%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is 195.71%.

SKT has been the topic of several analyst reports. Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday. ValuEngine cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Jefferies Group restated a “hold” rating and issued a $24.00 target price on shares of Tanger Factory Outlet Centers in a research report on Friday, December 22nd. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Bank of America upgraded Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 9th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company presently 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 Tanger Factory Outlet Centers stock in a transaction on 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 in the company, valued at approximately $1,255,894.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.80% of the stock is currently owned by company insiders.

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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.

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

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