Tanger Factory Outlet Centers Inc. (SKT) Plans Dividend Increase – $0.34 Per Share
Tanger Factory Outlet Centers Inc. (NYSE:SKT) declared a quarterly dividend on Thursday, January 11th, Zacks reports. Stockholders of record on Wednesday, January 31st will be paid a dividend of 0.343 per share by the real estate investment trust on Thursday, February 15th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend is Tuesday, January 30th. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34.
Tanger Factory Outlet Centers has increased its dividend by an average of 12.7% annually over the last three years and has increased its dividend annually for the last 25 consecutive years. Tanger Factory Outlet Centers has a payout ratio of 56.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Tanger Factory Outlet Centers to earn $2.51 per share next year, which means the company should continue to be able to cover its $1.37 annual dividend with an expected future payout ratio of 54.6%.
Shares of Tanger Factory Outlet Centers (NYSE:SKT) traded up $0.27 during trading hours on Friday, hitting $24.87. The stock had a trading volume of 898,400 shares, compared to its average volume of 1,405,875. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.10 and a quick ratio of 0.10. Tanger Factory Outlet Centers has a one year low of $21.81 and a one year high of $35.83. The firm has a market capitalization of $2,350.00, a price-to-earnings ratio of 40.11, a price-to-earnings-growth ratio of 3.31 and a beta of 0.52.
In other news, CMO Carrie A. Geldner sold 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total transaction of $55,125.00. Following the transaction, the chief marketing officer now directly owns 51,261 shares of the company’s stock, valued at $1,255,894.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by corporate insiders.
Tanger Factory Outlet Centers Company Profile
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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