$0.60 EPS Expected for Tanger Factory Outlet Centers Inc. (SKT) This Quarter

Equities research analysts forecast that Tanger Factory Outlet Centers Inc. (NYSE:SKT) will post earnings of $0.60 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Tanger Factory Outlet Centers’ earnings, with the highest EPS estimate coming in at $0.62 and the lowest estimate coming in at $0.58. Tanger Factory Outlet Centers posted earnings per share of $0.59 in the same quarter last year, which would suggest a positive year over year growth rate of 1.7%. The company is scheduled to report its next quarterly earnings results on Tuesday, August 7th.

According to Zacks, analysts expect that Tanger Factory Outlet Centers will report full-year earnings of $2.44 per share for the current financial year, with EPS estimates ranging from $2.40 to $2.46. For the next financial year, analysts forecast that the company will post earnings of $2.49 per share, with EPS estimates ranging from $2.39 to $2.55. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Tanger Factory Outlet Centers.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.34). The business had revenue of $123.50 million during the quarter, compared to analyst estimates of $120.93 million. Tanger Factory Outlet Centers had a return on equity of 10.97% and a net margin of 13.85%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS.

Several research firms have recently weighed in on SKT. Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Boenning Scattergood reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, May 3rd. KeyCorp downgraded shares of Tanger Factory Outlet Centers from a “sector weight” rating to an “underweight” rating and set a $19.00 target price on the stock. in a research report on Wednesday, May 2nd. ValuEngine downgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Finally, Evercore ISI downgraded shares of Tanger Factory Outlet Centers from an “in-line” rating to an “underperform” rating in a research report on Thursday, February 15th. Five research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Tanger Factory Outlet Centers currently has a consensus rating of “Sell” and a consensus price target of $23.70.

In related news, SVP Carrie A. Warren sold 2,357 shares of the business’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $20.80, for a total transaction of $49,025.60. Following the transaction, the senior vice president now directly owns 55,501 shares of the company’s stock, valued at $1,154,420.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Virginia R. Summerell sold 5,800 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $22.90, for a total transaction of $132,820.00. Following the transaction, the vice president now directly owns 32,025 shares in the company, valued at $733,372.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,596 shares of company stock worth $191,697. 2.10% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in Tanger Factory Outlet Centers by 69.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,963 shares of the real estate investment trust’s stock valued at $185,000 after purchasing an additional 2,863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tanger Factory Outlet Centers by 34.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 2,107 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Tanger Factory Outlet Centers during the first quarter valued at approximately $238,000. Xact Kapitalforvaltning AB purchased a new position in Tanger Factory Outlet Centers during the fourth quarter valued at approximately $263,000. Finally, Lido Advisors LLC purchased a new position in Tanger Factory Outlet Centers during the fourth quarter valued at approximately $265,000.

Shares of Tanger Factory Outlet Centers opened at $20.90 on Tuesday, according to Marketbeat Ratings. The company has a market capitalization of $1.98 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 1.66 and a beta of 0.51. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.05 and a current ratio of 0.05. Tanger Factory Outlet Centers has a 12-month low of $19.86 and a 12-month high of $27.88.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Monday, April 30th were given a $0.35 dividend. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 6.70%. The ex-dividend date of this dividend was Friday, April 27th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is 56.91%.

Tanger Factory Outlet Centers Company Profile

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

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