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.

A number of equities analysts have recently weighed in on the company. ValuEngine lowered Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research lowered Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Jefferies Group reaffirmed a “hold” rating and set a $24.00 target price on shares of Tanger Factory Outlet Centers in a research report on Friday, December 22nd. Citigroup lowered their target price on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating on the stock in a research report on Friday, November 10th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, November 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $26.60.

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.

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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.

Dividend History for Tanger Factory Outlet Centers (NYSE:SKT)

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