Tanger Factory Outlet Centers (NYSE:SKT) issued its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.05, Yahoo Finance reports. Tanger Factory Outlet Centers had a net margin of 13.80% and a return on equity of 10.45%. The company had revenue of $126.49 million during the quarter, compared to analysts’ expectations of $122.67 million. Tanger Factory Outlet Centers updated its FY18 guidance to $2.43-2.49 EPS.
Shares of Tanger Factory Outlet Centers (SKT) traded down $0.49 during trading hours on Wednesday, reaching $22.03. 1,021,829 shares of the company traded hands, compared to its average volume of 1,814,214. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.07 and a quick ratio of 0.10. The firm has a market cap of $2,100.00, a price-to-earnings ratio of 31.70, a P/E/G ratio of 2.96 and a beta of 0.44. Tanger Factory Outlet Centers has a 12-month low of $21.14 and a 12-month high of $34.76.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were paid a dividend of $0.343 per share. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a yield of 6.23%. The ex-dividend date of this dividend was Tuesday, January 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 195.71%.
Several equities research analysts have recently issued reports on SKT shares. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Boenning Scattergood raised shares of Tanger Factory Outlet Centers from an “under perform” rating to a “neutral” rating in a research report on Friday, November 3rd. Bank of America raised shares of Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 9th. Citigroup decreased their price objective on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research report on Friday, November 10th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $24.00 price objective on shares of Tanger Factory Outlet Centers in a research report on Friday, December 22nd. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Tanger Factory Outlet Centers currently has a consensus rating of “Hold” and an average target price of $26.60.
In other Tanger Factory Outlet Centers news, COO Thomas E. Mcdonough sold 11,276 shares of Tanger Factory Outlet Centers stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $22.55, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Carrie A. Geldner sold 2,250 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total transaction 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 disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.
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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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