Tanger Factory Outlet Centers (NYSE:SKT) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05, Yahoo Finance reports. The business had revenue of $126.49 million for the quarter, compared to analyst estimates of $122.67 million. Tanger Factory Outlet Centers had a net margin of 12.34% and a return on equity of 8.98%. Tanger Factory Outlet Centers updated its FY18 guidance to $2.43-2.49 EPS.

Shares of Tanger Factory Outlet Centers (SKT) traded down $1.62 on Wednesday, hitting $21.85. 6,599,083 shares of the stock were exchanged, compared to its average volume of 1,724,318. The company has a market cap of $2,030.00, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 2.98 and a beta of 0.44. 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 52-week low of $21.14 and a 52-week high of $34.76.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.343 per share. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 6.28%. Tanger Factory Outlet Centers’s payout ratio is presently 220.97%.

A number of brokerages have recently weighed in on SKT. ValuEngine lowered shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research lowered shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Jefferies Group reaffirmed a “hold” rating and set a $24.00 target price on shares of Tanger Factory Outlet Centers in a research note on Friday, December 22nd. Citigroup cut their target price on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating on the stock in a research note on Friday, November 10th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Thursday, November 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Tanger Factory Outlet Centers has a consensus rating of “Hold” and a consensus price target of $26.60.

In related news, CMO Carrie A. Geldner sold 2,250 shares of Tanger Factory Outlet Centers stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $24.50, for a total transaction of $55,125.00. Following the completion of the transaction, the chief marketing officer now directly owns 51,261 shares of the company’s stock, valued at approximately $1,255,894.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.80% of the company’s stock.

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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.

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

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