Tanger Factory Outlet Centers (SKT) Updates FY18 Earnings Guidance

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.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.05. The firm had revenue of $126.49 million for the quarter, compared to the consensus estimate of $122.67 million. Tanger Factory Outlet Centers had a return on equity of 10.27% and a net margin of 13.80%. equities research analysts forecast that Tanger Factory Outlet Centers will post 2.51 EPS for the current fiscal year.

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.

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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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