Equities research analysts forecast that Tanger Factory Outlet Centers Inc. (NYSE:SKT) will post $0.60 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Tanger Factory Outlet Centers’ earnings. The lowest EPS estimate is $0.58 and the highest is $0.63. Tanger Factory Outlet Centers posted earnings of $0.58 per share in the same quarter last year, which indicates a positive year over year growth rate of 3.4%. The firm is scheduled to report its next quarterly earnings report on Monday, May 7th.
On average, analysts expect that Tanger Factory Outlet Centers will report full-year earnings of $2.50 per share for the current financial year, with EPS estimates ranging from $2.44 to $2.54. For the next year, analysts anticipate that the company will report earnings of $2.57 per share, with EPS estimates ranging from $2.48 to $2.62. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Tanger Factory Outlet Centers.
Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.05. The firm had revenue of $126.49 million during the quarter, compared to analyst estimates of $122.67 million. Tanger Factory Outlet Centers had a net margin of 13.80% and a return on equity of 10.45%.
In related news, COO Thomas E. Mcdonough sold 11,276 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $22.55, for a total transaction of $254,273.80. Following the completion of the sale, the chief operating officer now directly owns 159,088 shares in the company, valued at approximately $3,587,434.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Carrie A. Geldner sold 2,250 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $24.50, for a total transaction of $55,125.00. Following the sale, the chief marketing officer now owns 51,261 shares of the company’s stock, valued at $1,255,894.50. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.
A number of large investors have recently bought and sold shares of SKT. Capital Advisors Ltd. LLC bought a new stake in Tanger Factory Outlet Centers during the 3rd quarter valued at $134,000. Envestnet Asset Management Inc. raised its holdings in Tanger Factory Outlet Centers by 69.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 6,963 shares of the real estate investment trust’s stock worth $185,000 after purchasing an additional 2,863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tanger Factory Outlet Centers by 34.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 2,107 shares in the last quarter. Telemus Capital LLC bought a new position in Tanger Factory Outlet Centers in the 3rd quarter worth $244,000. Finally, Xact Kapitalforvaltning AB bought a new position in Tanger Factory Outlet Centers in the 4th quarter worth $263,000. Institutional investors own 95.30% of the company’s stock.
Shares of Tanger Factory Outlet Centers (NYSE:SKT) traded up $0.18 on Friday, hitting $22.57. 1,110,000 shares of the stock were exchanged, compared to its average volume of 1,880,000. The company has a market cap of $2,130.00, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 2.96 and a beta of 0.44. The company has a current ratio of 0.07, a quick ratio of 0.10 and a debt-to-equity ratio of 2.88. Tanger Factory Outlet Centers has a 1 year low of $21.14 and a 1 year high of $34.76.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were issued a dividend of $0.343 per share. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date was Tuesday, January 30th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 185.14%.
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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.
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