Tanger Factory Outlet Centers Inc. Forecasted to Post FY2020 Earnings of $2.54 Per Share (SKT)

Tanger Factory Outlet Centers Inc. (NYSE:SKT) – Stock analysts at Jefferies Group issued their FY2020 earnings per share (EPS) estimates for Tanger Factory Outlet Centers in a research note issued to investors on Tuesday. Jefferies Group analyst O. Okusanya anticipates that the real estate investment trust will post earnings per share of $2.54 for the year. Jefferies Group has a “Hold” rating and a $24.00 price target on the stock.

A number of other analysts also recently weighed in on the company. Boenning Scattergood reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, February 15th. Evercore ISI downgraded Tanger Factory Outlet Centers from an “in-line” rating to an “underperform” rating in a research report on Thursday, February 15th. ValuEngine downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Finally, Citigroup dropped their price objective on 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. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Tanger Factory Outlet Centers presently has an average rating of “Hold” and a consensus target price of $26.60.

Tanger Factory Outlet Centers (NYSE SKT) traded up $0.50 during trading hours on Wednesday, hitting $22.43. The stock had a trading volume of 1,040,147 shares, compared to its average volume of 1,809,436. The company has a market cap of $2,129.50, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 2.96 and a beta of 0.44. The company has a current ratio of 0.07, a quick ratio of 0.10 and a debt-to-equity ratio of 2.88. Tanger Factory Outlet Centers has a 1 year low of $21.14 and a 1 year high of $34.76.

Tanger Factory Outlet Centers (NYSE:SKT) last released its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $126.49 million during the quarter, compared to the consensus estimate of $122.67 million. Tanger Factory Outlet Centers had a return on equity of 10.45% and a net margin of 13.80%.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were given a dividend of $0.343 per share. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a dividend yield of 6.12%. The ex-dividend date was Tuesday, January 30th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 195.71%.

In other Tanger Factory Outlet Centers news, CMO Carrie A. Geldner sold 2,250 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total value of $55,125.00. Following the completion of the transaction, the chief marketing officer now owns 51,261 shares of the company’s stock, valued at approximately $1,255,894.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Thomas E. Mcdonough sold 11,276 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $22.55, for a total value of $254,273.80. Following the completion of the transaction, the chief operating officer now directly owns 159,088 shares of the company’s stock, valued at approximately $3,587,434.40. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SKT. Principal Financial Group Inc. increased its holdings in Tanger Factory Outlet Centers by 29.5% in the 3rd quarter. Principal Financial Group Inc. now owns 5,110,454 shares of the real estate investment trust’s stock worth $124,797,000 after purchasing an additional 1,163,429 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Tanger Factory Outlet Centers in the 4th quarter worth about $24,612,000. AEW Capital Management L P increased its holdings in Tanger Factory Outlet Centers by 52.0% in the 4th quarter. AEW Capital Management L P now owns 1,589,020 shares of the real estate investment trust’s stock worth $42,125,000 after purchasing an additional 543,700 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Tanger Factory Outlet Centers by 352.5% in the 3rd quarter. Wells Fargo & Company MN now owns 553,927 shares of the real estate investment trust’s stock worth $13,526,000 after purchasing an additional 431,513 shares in the last quarter. Finally, King Street Capital Management L.P. acquired a new position in Tanger Factory Outlet Centers in the 3rd quarter worth about $9,280,000. 95.30% of the stock is 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.

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

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