Tanger Factory Outlet Centers Inc. to Post FY2018 Earnings of $2.39 Per Share, Jefferies Financial Group Forecasts (SKT)

Tanger Factory Outlet Centers Inc. (NYSE:SKT) – Analysts at Jefferies Financial Group decreased their FY2018 EPS estimates for shares of Tanger Factory Outlet Centers in a research note issued to investors on Tuesday, July 17th. Jefferies Financial Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings per share of $2.39 for the year, down from their prior forecast of $2.40.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.34). Tanger Factory Outlet Centers had a net margin of 13.85% and a return on equity of 10.97%. The firm had revenue of $123.50 million for the quarter, compared to the consensus estimate of $120.93 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis.

Other equities research analysts have also issued reports about the company. Boenning Scattergood reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Thursday, May 3rd. KeyCorp lowered Tanger Factory Outlet Centers from a “sector weight” rating to an “underweight” rating and set a $19.00 price objective on the stock. in a research note on Wednesday, May 2nd. ValuEngine lowered Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Five research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has a consensus rating of “Sell” and an average target price of $23.25.

SKT stock opened at $23.28 on Thursday. Tanger Factory Outlet Centers has a 1-year low of $19.86 and a 1-year high of $27.88. The company has a market capitalization of $2.21 billion, a PE ratio of 9.46, a P/E/G ratio of 1.87 and a beta of 0.51. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.05 and a current ratio of 0.05.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Tuesday, July 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 6.01%. Tanger Factory Outlet Centers’s dividend payout ratio is currently 56.91%.

In other news, SVP Carrie A. Warren sold 2,357 shares of the business’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $20.80, for a total value of $49,025.60. Following the transaction, the senior vice president now directly owns 55,501 shares of the company’s stock, valued at approximately $1,154,420.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Charles Allen Worsham sold 4,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $21.12, for a total value of $92,928.00. Following the completion of the transaction, the senior vice president now directly owns 36,043 shares in the company, valued at $761,228.16. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dean Investment Associates LLC lifted its holdings in Tanger Factory Outlet Centers by 6.3% during the 1st quarter. Dean Investment Associates LLC now owns 47,673 shares of the real estate investment trust’s stock worth $1,049,000 after buying an additional 2,824 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Tanger Factory Outlet Centers by 69.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,963 shares of the real estate investment trust’s stock worth $185,000 after buying an additional 2,863 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in Tanger Factory Outlet Centers by 15.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 22,000 shares of the real estate investment trust’s stock worth $484,000 after buying an additional 3,000 shares in the last quarter. BB&T Securities LLC lifted its holdings in Tanger Factory Outlet Centers by 22.4% during the 1st quarter. BB&T Securities LLC now owns 19,712 shares of the real estate investment trust’s stock worth $433,000 after buying an additional 3,606 shares in the last quarter. Finally, Suntrust Banks Inc. lifted its holdings in Tanger Factory Outlet Centers by 2.1% during the 1st quarter. Suntrust Banks Inc. now owns 197,692 shares of the real estate investment trust’s stock worth $4,348,000 after buying an additional 4,082 shares in the last quarter.

About Tanger Factory Outlet Centers

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 490 different brand name companies.

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

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