$0.63 Earnings Per Share Expected for Tanger Factory Outlet Centers Inc. (SKT) This Quarter

Analysts forecast that Tanger Factory Outlet Centers Inc. (NYSE:SKT) will announce earnings per share (EPS) of $0.63 for the current 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 $0.64 and the lowest estimate coming in at $0.61. Tanger Factory Outlet Centers posted earnings of $0.25 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 152%. The business is expected to report its next quarterly earnings results on Tuesday, February 13th.

On average, analysts expect that Tanger Factory Outlet Centers will report full-year earnings of $2.07 per share for the current year, with EPS estimates ranging from $2.05 to $2.08. For the next financial year, analysts expect that the business will report earnings of $2.51 per share, with EPS estimates ranging from $2.46 to $2.55. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Tanger Factory Outlet Centers.

SKT has been the topic of several analyst reports. Boenning Scattergood reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, November 9th. Zacks Investment Research lowered shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. KeyCorp reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Friday, August 25th. Bank of America raised shares of Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a report on Thursday, November 9th. Finally, Jefferies Group reissued a “hold” rating and issued a $26.00 price target on shares of Tanger Factory Outlet Centers in a report on Thursday, September 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.00.

Shares of Tanger Factory Outlet Centers (SKT) traded down $0.16 during trading on Wednesday, reaching $26.04. 1,137,500 shares of the company’s stock traded hands, compared to its average volume of 1,563,499. The company has a market cap of $2,440.00, a price-to-earnings ratio of 12.78, a PEG ratio of 3.47 and a beta of 0.52. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.10 and a quick ratio of 0.10. Tanger Factory Outlet Centers has a 12-month low of $21.81 and a 12-month high of $37.34.

In other news, CMO Carrie A. Geldner sold 2,250 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were 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 of the company’s stock, valued at approximately $1,255,894.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.80% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Inc. grew its holdings in shares of Tanger Factory Outlet Centers by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 303 shares during the last quarter. BB&T Securities LLC grew its holdings in shares of Tanger Factory Outlet Centers by 6.2% in the 2nd quarter. BB&T Securities LLC now owns 8,575 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 501 shares during the last quarter. Utah Retirement Systems grew its holdings in shares of Tanger Factory Outlet Centers by 2.8% in the 2nd quarter. Utah Retirement Systems now owns 21,773 shares of the real estate investment trust’s stock worth $566,000 after purchasing an additional 588 shares during the last quarter. Arizona State Retirement System lifted its position in Tanger Factory Outlet Centers by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 40,700 shares of the real estate investment trust’s stock worth $1,057,000 after buying an additional 700 shares in the last quarter. Finally, Comerica Bank lifted its position in Tanger Factory Outlet Centers by 1.4% during the 2nd quarter. Comerica Bank now owns 75,370 shares of the real estate investment trust’s stock worth $2,046,000 after buying an additional 1,033 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

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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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