Tanger Factory Outlet Centers (SKT) Given Daily Media Sentiment Rating of 0.09
Media coverage about Tanger Factory Outlet Centers (NYSE:SKT) has been trending somewhat positive recently, according to Accern. The research group identifies positive and negative news coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Tanger Factory Outlet Centers earned a news sentiment score of 0.09 on Accern’s scale. Accern also gave news articles about the real estate investment trust an impact score of 64 out of 100, meaning that recent news coverage is somewhat likely to have an impact on the company’s share price in the next several days.
Here are some of the media stories that may have effected Accern’s analysis:
- Stock to Watch: Tanger Factory Outlet Centers, Inc. (SKT) – Morning Times (wallstreetmorning.com)
- Should You Buy This Dividend Aristocrat On Sale? – Seeking Alpha (seekingalpha.com)
- Tanger Factory Outlet Centers, Inc. (SKT) Expected to Post Earnings of $0.58 Per Share (americanbankingnews.com)
- Mr. Buffett, It’s Time For Tanger – Seeking Alpha (seekingalpha.com)
- Tanger Factory Outlet Centers : Outlet Centers Schedules Second Quarter 2017 Earnings Release and Conference Call (4-traders.com)
A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Wednesday, March 29th. Jefferies Group LLC downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and decreased their price target for the company from $38.00 to $29.00 in a report on Friday, June 16th. Bank of America Corporation downgraded Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $28.00 to $25.50 in a report on Friday, June 23rd. Evercore ISI raised Tanger Factory Outlet Centers from a “hold” rating to an “outperform” rating in a report on Friday, March 3rd. Finally, ValuEngine downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $36.08.
Shares of Tanger Factory Outlet Centers (NYSE:SKT) traded up 1.77% on Wednesday, reaching $27.06. The company’s stock had a trading volume of 1,090,186 shares. The stock has a 50-day moving average price of $26.61 and a 200-day moving average price of $32.00. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 13.81 and a beta of 0.46. Tanger Factory Outlet Centers has a 1-year low of $24.71 and a 1-year high of $42.20.
Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by $0.35. The firm had revenue of $121.37 million for the quarter, compared to analysts’ expectations of $122.59 million. Tanger Factory Outlet Centers had a return on equity of 27.05% and a net margin of 39.32%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS. On average, equities research analysts forecast that Tanger Factory Outlet Centers will post $1.01 EPS for the current year.
In other Tanger Factory Outlet Centers news, EVP Chad Perry sold 8,000 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $27.57, for a total value of $220,560.00. Following the transaction, the executive vice president now directly owns 78,112 shares in the company, valued at approximately $2,153,547.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas E. Mcdonough sold 10,409 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $32.69, for a total value of $340,270.21. Following the completion of the transaction, the chief operating officer now owns 191,285 shares in the company, valued at $6,253,106.65. The disclosure for this sale can be found here. Insiders sold a total of 51,339 shares of company stock worth $1,499,994 over the last quarter. Company insiders own 2.10% of the company’s stock.
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About Tanger Factory Outlet Centers
Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.
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