FY2018 EPS Estimates for Tanger Factory Outlet Centers, Inc. Decreased by Jefferies Group (NYSE:SKT)

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) – Analysts at Jefferies Group decreased their FY2018 earnings per share estimates for shares of Tanger Factory Outlet Centers in a research report issued on Monday, according to Zacks Investment Research. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings per share of $2.46 for the year, down from their previous forecast of $2.49. Jefferies Group has a “Hold” rating and a $26.00 price target on the stock.

Other analysts have also issued reports about the stock. Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Thursday, November 9th. Zacks Investment Research downgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. BidaskClub upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. KeyCorp reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Friday, August 25th. Finally, Bank of America upgraded shares of Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $27.00.

Shares of Tanger Factory Outlet Centers (SKT) opened at $24.84 on Tuesday. Tanger Factory Outlet Centers has a twelve month low of $21.81 and a twelve month high of $37.34. The firm has a market cap of $2,366.99, a P/E ratio of 12.22, a P/E/G ratio of 3.39 and a beta of 0.51. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.10 and a current ratio of 0.10.

Several hedge funds and other institutional investors have recently modified their holdings of SKT. Teachers Advisors LLC raised its position in shares of Tanger Factory Outlet Centers by 17.1% during the 1st quarter. Teachers Advisors LLC now owns 203,579 shares of the real estate investment trust’s stock worth $6,671,000 after acquiring an additional 29,696 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Tanger Factory Outlet Centers by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,340,529 shares of the real estate investment trust’s stock worth $43,930,000 after buying an additional 13,198 shares during the period. AQR Capital Management LLC increased its position in Tanger Factory Outlet Centers by 47.2% during the first quarter. AQR Capital Management LLC now owns 51,112 shares of the real estate investment trust’s stock worth $1,675,000 after buying an additional 16,396 shares during the period. Capstone Asset Management Co. increased its position in Tanger Factory Outlet Centers by 8.4% during the second quarter. Capstone Asset Management Co. now owns 10,446 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 810 shares during the period. Finally, OLD National Bancorp IN increased its position in Tanger Factory Outlet Centers by 56.6% during the second quarter. OLD National Bancorp IN now owns 17,283 shares of the real estate investment trust’s stock worth $449,000 after buying an additional 6,249 shares during the period. 98.49% of the stock is currently owned by institutional investors and hedge funds.

In related news, CMO Carrie A. Geldner sold 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total value of $55,125.00. Following the sale, the chief marketing officer now owns 51,261 shares in the company, valued at $1,255,894.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.80% of the stock is owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were issued a dividend of $0.3425 per share. The ex-dividend date was Monday, October 30th. This represents a $1.37 annualized dividend and a dividend yield of 5.52%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 220.97%.

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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.

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

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