Tanger Factory Outlet Centers (NYSE:SKT) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $2.42-2.46 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.43.
Several brokerages recently weighed in on SKT. Scotiabank began coverage on shares of Tanger Factory Outlet Centers in a research note on Tuesday, October 16th. They issued an underperform rating on the stock. ValuEngine raised shares of Tanger Factory Outlet Centers from a strong sell rating to a sell rating in a research note on Saturday, September 1st. Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a sell rating to a hold rating in a research note on Thursday, September 6th. Finally, Citigroup boosted their price objective on shares of Tanger Factory Outlet Centers from $21.00 to $22.50 and gave the stock a neutral rating in a research note on Thursday, August 16th. Four equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Tanger Factory Outlet Centers presently has an average rating of Hold and an average price target of $21.83.
Shares of Tanger Factory Outlet Centers stock traded up $0.69 during trading on Friday, hitting $23.15. The company’s stock had a trading volume of 2,077,457 shares, compared to its average volume of 1,543,625. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. Tanger Factory Outlet Centers has a 52 week low of $19.86 and a 52 week high of $26.73. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 2.01 and a beta of 0.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $1.40 annualized dividend and a dividend yield of 6.05%. Tanger Factory Outlet Centers’s dividend payout ratio is 56.91%.
In other Tanger Factory Outlet Centers news, SVP Carrie A. Warren sold 2,000 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $24.14, for a total transaction of $48,280.00. Following the sale, the senior vice president now owns 53,501 shares of the company’s stock, valued at $1,291,514.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.
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 510 different brand name companies.
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