Analysts expect Tanger Factory Outlet Centers Inc. (NYSE:SKT) to post $0.62 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Tanger Factory Outlet Centers’ earnings. The highest EPS estimate is $0.62 and the lowest is $0.61. Tanger Factory Outlet Centers reported earnings of $0.66 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 6.1%. The company is expected to announce its next quarterly earnings results on Tuesday, February 12th.
On average, analysts expect that Tanger Factory Outlet Centers will report full-year earnings of $2.44 per share for the current year, with EPS estimates ranging from $2.42 to $2.45. For the next fiscal year, analysts anticipate that the business will post earnings of $2.43 per share, with EPS estimates ranging from $2.40 to $2.46. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Tanger Factory Outlet Centers.
Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The business had revenue of $124.24 million for the quarter, compared to analysts’ expectations of $119.47 million. Tanger Factory Outlet Centers had a return on equity of 9.57% and a net margin of 11.16%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 earnings per share.
In other news, SVP Carrie A. Warren sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Lisa J. Morrison sold 8,500 shares of the firm’s stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $23.89, for a total value of $203,065.00. Following the sale, the vice president now directly owns 41,167 shares in the company, valued at approximately $983,479.63. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKT. Bank of Montreal Can raised its position in shares of Tanger Factory Outlet Centers by 111.5% during the second quarter. Bank of Montreal Can now owns 44,867 shares of the real estate investment trust’s stock worth $1,054,000 after purchasing an additional 23,652 shares during the period. Nisa Investment Advisors LLC raised its position in Tanger Factory Outlet Centers by 24.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 50,200 shares of the real estate investment trust’s stock valued at $1,179,000 after buying an additional 10,000 shares during the last quarter. ARP Americas LP acquired a new stake in Tanger Factory Outlet Centers in the 2nd quarter valued at approximately $251,000. Dupont Capital Management Corp raised its position in Tanger Factory Outlet Centers by 111.2% in the 2nd quarter. Dupont Capital Management Corp now owns 58,545 shares of the real estate investment trust’s stock valued at $1,375,000 after buying an additional 30,831 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Tanger Factory Outlet Centers by 10.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 100,726 shares of the real estate investment trust’s stock valued at $2,366,000 after buying an additional 9,343 shares during the last quarter. 99.86% of the stock is currently owned by institutional investors.
Tanger Factory Outlet Centers stock traded up $0.12 during mid-day trading on Friday, hitting $23.35. The stock had a trading volume of 25,976 shares, compared to its average volume of 1,318,686. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 9.49, a P/E/G ratio of 1.87 and a beta of 0.42. Tanger Factory Outlet Centers has a 12 month low of $19.86 and a 12 month high of $26.73. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 3.33.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date was Tuesday, October 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 56.91%.
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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