Tanger Inc. (NYSE:SKT) to Issue $0.29 Quarterly Dividend

Tanger Inc. (NYSE:SKT) announced a quarterly dividend on Thursday, January 15th. Stockholders of record on Friday, January 30th will be paid a dividend of 0.2925 per share by the real estate investment trust on Friday, February 13th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, January 30th.

Tanger has decreased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Tanger has a payout ratio of 119.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Tanger to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 50.0%.

Tanger Stock Performance

Shares of NYSE:SKT traded down $0.01 during trading on Thursday, hitting $33.50. 623,382 shares of the stock traded hands, compared to its average volume of 1,154,828. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 2.20. The company has a fifty day moving average price of $33.62 and a two-hundred day moving average price of $33.02. Tanger has a 52-week low of $28.69 and a 52-week high of $36.76. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 35.64, a P/E/G ratio of 1.87 and a beta of 1.06.

Tanger (NYSE:SKT) last released its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Tanger had a net margin of 19.15% and a return on equity of 15.75%. The company had revenue of $145.21 million during the quarter, compared to analysts’ expectations of $139.30 million. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. As a group, equities analysts predict that Tanger will post 2.24 EPS for the current year.

About Tanger

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company’s portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger’s centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.