Tanger Factory Outlet Centers (NYSE:SKT) is set to release its earnings data after the market closes on Monday, April 30th. Analysts expect Tanger Factory Outlet Centers to post earnings of $0.25 per share for the quarter. Tanger Factory Outlet Centers has set its FY18 guidance at $2.43-2.49 EPS.
Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.05. Tanger Factory Outlet Centers had a net margin of 13.80% and a return on equity of 10.45%. The firm had revenue of $126.49 million for the quarter, compared to analysts’ expectations of $122.67 million. On average, analysts expect Tanger Factory Outlet Centers to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
SKT stock opened at $21.52 on Monday. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.07 and a current ratio of 0.07. Tanger Factory Outlet Centers has a twelve month low of $21.14 and a twelve month high of $33.37. The company has a market cap of $2,034.46, a price-to-earnings ratio of 8.75, a P/E/G ratio of 1.66 and a beta of 0.52.
A number of analysts have weighed in on the stock. ValuEngine cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Evercore ISI cut shares of Tanger Factory Outlet Centers from an “in-line” rating to an “underperform” rating in a report on Thursday, February 15th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, February 15th. Four research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $24.88.
In other news, COO Thomas E. Mcdonough sold 11,276 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $22.55, for a total transaction of $254,273.80. Following the transaction, the chief operating officer now directly owns 159,088 shares in the company, valued at $3,587,434.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Virginia R. Summerell sold 5,800 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $22.90, for a total transaction of $132,820.00. Following the transaction, the vice president now owns 32,025 shares in the company, valued at $733,372.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,515 shares of company stock worth $396,945. Insiders own 2.10% of the company’s stock.
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 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 500 different brand name companies.
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