Tanger Factory Outlet Centers, Inc. Forecasted to Earn Q1 2022 Earnings of $0.31 Per Share (NYSE:SKT)

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) – Investment analysts at KeyCorp cut their Q1 2022 EPS estimates for shares of Tanger Factory Outlet Centers in a report issued on Tuesday, April 6th. KeyCorp analyst T. Thomas now anticipates that the real estate investment trust will post earnings of $0.31 per share for the quarter, down from their previous estimate of $0.40. KeyCorp also issued estimates for Tanger Factory Outlet Centers’ Q2 2022 earnings at $0.27 EPS, Q3 2022 earnings at $0.31 EPS and Q4 2022 earnings at $0.35 EPS.

Several other equities analysts have also commented on SKT. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on Tanger Factory Outlet Centers from $6.00 to $10.50 in a research report on Tuesday, December 15th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $12.50 price target (up previously from $11.00) on shares of Tanger Factory Outlet Centers in a research report on Monday, March 15th. Smith Barney Citigroup lifted their price target on Tanger Factory Outlet Centers from $6.00 to $10.50 in a research report on Tuesday, December 15th. Finally, Zacks Investment Research lowered Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Saturday, January 16th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $9.64.

Shares of SKT stock opened at $16.00 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 4.49. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -399.90 and a beta of 2.10. The stock has a fifty day moving average of $16.11 and a 200 day moving average of $11.29. Tanger Factory Outlet Centers has a 52 week low of $5.00 and a 52 week high of $22.40.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings data on Wednesday, February 17th. The real estate investment trust reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.14). Tanger Factory Outlet Centers had a negative net margin of 0.76% and a negative return on equity of 0.82%.

Institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd grew its stake in shares of Tanger Factory Outlet Centers by 193.8% during the 3rd quarter. Point72 Hong Kong Ltd now owns 4,577 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 3,019 shares during the period. Prime Capital Investment Advisors LLC grew its stake in shares of Tanger Factory Outlet Centers by 45.5% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 3,200 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 1,000 shares during the period. Van ECK Associates Corp grew its stake in shares of Tanger Factory Outlet Centers by 33.2% during the 4th quarter. Van ECK Associates Corp now owns 3,638 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 907 shares during the period. Planned Solutions Inc. bought a new stake in shares of Tanger Factory Outlet Centers during the 4th quarter valued at about $48,000. Finally, Penbrook Management LLC bought a new stake in shares of Tanger Factory Outlet Centers during the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 73.45% of the company’s stock.

In related news, Director Thomas Reddin sold 10,000 shares of Tanger Factory Outlet Centers stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $17.50, for a total value of $175,000.00. Also, CMO Carrie A. Warren sold 4,087 shares of Tanger Factory Outlet Centers stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $17.81, for a total value of $72,789.47. Insiders sold a total of 15,087 shares of company stock valued at $265,449 over the last quarter. 2.20% of the stock is owned by corporate insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Investors of record on Friday, January 29th were issued a $0.1775 dividend. The ex-dividend date was Thursday, January 28th. This represents a $0.71 annualized dividend and a yield of 4.44%. Tanger Factory Outlet Centers’s payout ratio is 31.28%.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies.

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

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