Tanger Factory Outlet Centers (NYSE:SKT) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.43-2.49 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.51.
A number of equities research analysts have weighed in on the company. Jefferies Group restated a hold rating and set a $24.00 price target on shares of Tanger Factory Outlet Centers in a research report on Friday, December 22nd. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a hold rating to a sell rating in a research report on Wednesday, January 10th. Citigroup lowered their price target on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a sell rating on the stock in a research report on Friday, November 10th. ValuEngine downgraded Tanger Factory Outlet Centers from a buy rating to a hold rating in a research report on Sunday, December 31st. 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 investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has an average rating of Hold and an average target price of $26.60.
Shares of Tanger Factory Outlet Centers (NYSE:SKT) opened at $21.81 on Thursday. The firm has a market capitalization of $2,218.58, a PE ratio of 31.16, a price-to-earnings-growth 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. Tanger Factory Outlet Centers has a 12-month low of $21.14 and a 12-month high of $34.76.
The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.37 annualized dividend and a dividend yield of 6.29%. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. Tanger Factory Outlet Centers’s payout ratio is currently 195.71%.
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 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 document filed with the SEC, which can be accessed through this link. 4.80% of the stock is currently owned by insiders.
COPYRIGHT VIOLATION NOTICE: “Tanger Factory Outlet Centers (SKT) Updates FY18 Earnings Guidance” was first reported by Week Herald and is the sole property of of Week Herald. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at https://weekherald.com/2018/02/15/tanger-factory-outlet-centers-skt-updates-fy18-earnings-guidance.html.
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.
Receive News & Ratings for Tanger Factory Outlet Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger Factory Outlet Centers and related companies with MarketBeat.com's FREE daily email newsletter.