Zacks: Analysts Expect Tanger Factory Outlet Centers (SKT) Will Post Earnings of $0.58 Per Share

Equities research analysts expect Tanger Factory Outlet Centers (NYSE:SKT) to report earnings of $0.58 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Tanger Factory Outlet Centers’ earnings, with the highest EPS estimate coming in at $0.59 and the lowest estimate coming in at $0.58. Tanger Factory Outlet Centers also posted earnings per share of $0.58 during the same quarter last year. The company is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, May 1st.

According to Zacks, analysts expect that Tanger Factory Outlet Centers will report full year earnings of $2.45 per share for the current financial year, with EPS estimates ranging from $2.42 to $2.47. For the next year, analysts anticipate that the firm will report earnings of $2.52 per share, with EPS estimates ranging from $2.45 to $2.56. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Tanger Factory Outlet Centers.

How to Become a New Pot Stock Millionaire

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The company 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%.

Several equities analysts have weighed in on the company. ValuEngine downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Evercore ISI downgraded Tanger Factory Outlet Centers from an “in-line” rating to an “underperform” rating in a research report on Thursday, February 15th. Finally, Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, February 15th. Four analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.88.

In other news, VP Virginia R. Summerell sold 5,800 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $22.90, for a total transaction of $132,820.00. Following the sale, the vice president now owns 32,025 shares in the company, valued at $733,372.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas E. Mcdonough sold 11,276 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $22.55, for a total value of $254,273.80. Following the sale, the chief operating officer now owns 159,088 shares in the company, valued at approximately $3,587,434.40. The disclosure for this sale can be found here. Insiders have sold 17,515 shares of company stock worth $396,945 in the last 90 days. Insiders own 2.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Virtus Fund Advisers LLC boosted its holdings in Tanger Factory Outlet Centers by 5.9% in the fourth quarter. Virtus Fund Advisers LLC now owns 2,917,416 shares of the real estate investment trust’s stock valued at $77,341,000 after acquiring an additional 163,134 shares during the last quarter. AEW Capital Management L P boosted its holdings in Tanger Factory Outlet Centers by 52.0% in the fourth quarter. AEW Capital Management L P now owns 1,589,020 shares of the real estate investment trust’s stock valued at $42,125,000 after acquiring an additional 543,700 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tanger Factory Outlet Centers by 3.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,419,021 shares of the real estate investment trust’s stock valued at $34,654,000 after acquiring an additional 42,345 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Tanger Factory Outlet Centers by 7.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,040,024 shares of the real estate investment trust’s stock valued at $27,572,000 after acquiring an additional 71,863 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Tanger Factory Outlet Centers by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 955,927 shares of the real estate investment trust’s stock valued at $25,341,000 after acquiring an additional 26,625 shares during the last quarter.

Tanger Factory Outlet Centers stock traded up $0.06 during mid-day trading on Tuesday, hitting $21.45. 2,421,144 shares of the company were exchanged, compared to its average volume of 1,620,460. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market capitalization of $2,034.45, a price-to-earnings ratio of 8.72, a PEG ratio of 1.66 and a beta of 0.52. Tanger Factory Outlet Centers has a 12-month low of $21.14 and a 12-month high of $32.73.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Monday, April 30th will be issued a dividend of $0.35 per share. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, April 27th. This represents a $1.40 annualized dividend and a dividend yield of 6.53%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is 55.69%.

TRADEMARK VIOLATION WARNING: This piece was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2018/04/24/zacks-analysts-expect-tanger-factory-outlet-centers-skt-will-post-earnings-of-0-58-per-share.html.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc (NYSE: SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 500 different brand name companies.

Get a free copy of the Zacks research report on Tanger Factory Outlet Centers (SKT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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