Equities research analysts expect Tanger Factory Outlet Centers Inc. (NYSE:SKT) to report sales of $116.95 million for the current quarter, according to Zacks. Three analysts have provided estimates for Tanger Factory Outlet Centers’ earnings, with the lowest sales estimate coming in at $115.36 million and the highest estimate coming in at $118.48 million. Tanger Factory Outlet Centers reported sales of $119.61 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.2%. The company is scheduled to issue its next quarterly earnings report on Tuesday, August 7th.

On average, analysts expect that Tanger Factory Outlet Centers will report full year sales of $480.72 million for the current year, with estimates ranging from $476.00 million to $484.18 million. For the next fiscal year, analysts forecast that the business will post sales of $486.96 million per share, with estimates ranging from $478.85 million to $494.67 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Tanger Factory Outlet Centers.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.34). Tanger Factory Outlet Centers had a net margin of 13.85% and a return on equity of 10.97%. The company had revenue of $123.50 million for the quarter, compared to the consensus estimate of $120.93 million. During the same quarter in the previous year, the company posted $0.58 EPS. Tanger Factory Outlet Centers’s quarterly revenue was up 1.8% compared to the same quarter last year.

Several research analysts have commented on SKT shares. Evercore ISI downgraded shares of Tanger Factory Outlet Centers from an “in-line” rating to an “underperform” rating in a research note on Thursday, February 15th. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, February 15th. ValuEngine cut shares of Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Finally, KeyCorp cut shares of Tanger Factory Outlet Centers from a “sector weight” rating to an “underweight” rating and set a $19.00 target price on the stock. in a report on Wednesday, May 2nd. Five equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Sell” and an average price target of $23.70.

SKT traded up $0.01 on Friday, reaching $22.93. The company had a trading volume of 48,683 shares, compared to its average volume of 1,065,040. The company has a market capitalization of $2.15 billion, a P/E ratio of 9.31, a P/E/G ratio of 1.80 and a beta of 0.52. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.05 and a quick ratio of 0.05. Tanger Factory Outlet Centers has a 52-week low of $19.86 and a 52-week high of $27.88.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, April 30th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, April 27th. This represents a $1.40 annualized dividend and a yield of 6.11%. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. Tanger Factory Outlet Centers’s payout ratio is 56.91%.

In other news, SVP Charles Allen Worsham sold 4,400 shares of the business’s stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $21.12, for a total transaction of $92,928.00. Following the sale, the senior vice president now owns 36,043 shares in the company, valued at approximately $761,228.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Carrie A. Warren sold 2,357 shares of the business’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $20.80, for a total transaction of $49,025.60. Following the sale, the senior vice president now owns 55,501 shares in the company, valued at approximately $1,154,420.80. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Tanger Factory Outlet Centers by 34.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock valued at $216,000 after acquiring an additional 2,107 shares during the period. GSA Capital Partners LLP bought a new position in shares of Tanger Factory Outlet Centers during the 1st quarter valued at approximately $238,000. Xact Kapitalforvaltning AB bought a new position in shares of Tanger Factory Outlet Centers during the 4th quarter valued at approximately $263,000. Finally, Lido Advisors LLC bought a new position in shares of Tanger Factory Outlet Centers during the 4th quarter valued at approximately $265,000. Hedge funds and other institutional investors own 99.06% of the company’s stock.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc (NYSE: SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 500 different brand name companies.

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

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