Tanger Factory Outlet Centers (SKT) Issues Earnings Results
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%.
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.
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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