Tanger (SKT) to Release Earnings on Tuesday

Tanger (NYSE:SKT) is scheduled to announce its earnings results after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.50 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Tanger Price Performance

Shares of SKT stock opened at $28.88 on Monday. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.19 and a quick ratio of 0.19. The company’s 50-day simple moving average is $28.46 and its two-hundred day simple moving average is $26.87. Tanger has a one year low of $18.00 and a one year high of $29.98. The company has a market capitalization of $3.15 billion, a P/E ratio of 31.39, a P/E/G ratio of 3.65 and a beta of 1.83.

Tanger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.275 per share. The ex-dividend date is Monday, April 29th. This is an increase from Tanger’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.81%. Tanger’s dividend payout ratio (DPR) is currently 119.57%.

Analysts Set New Price Targets

SKT has been the topic of a number of recent research reports. Citigroup upgraded shares of Tanger from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $33.00 in a research note on Friday, March 22nd. Bank of America upgraded shares of Tanger from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $24.00 to $31.00 in a research note on Friday, April 5th. Finally, Evercore ISI increased their target price on shares of Tanger from $28.00 to $29.00 and gave the company an “in-line” rating in a research report on Wednesday, February 28th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tanger presently has an average rating of “Hold” and a consensus price target of $29.00.

About Tanger

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.