Tanger Factory Outlet Centers (NYSE:SKT) Issues Earnings Results, Beats Expectations By $0.05 EPS

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.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another website, it was stolen and republished in violation of US and international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.dispatchtribunal.com/2018/02/21/tanger-factory-outlet-centers-skt-issues-earnings-results-beats-estimates-by-0-05-eps.html.

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.

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

Receive News & Ratings for Tanger Factory Outlet Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger Factory Outlet Centers and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply