Wall Street analysts forecast that Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) will report $101.46 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Tanger Factory Outlet Centers’ earnings. The highest sales estimate is $104.07 million and the lowest is $98.85 million. Tanger Factory Outlet Centers reported sales of $97.47 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.1%. The firm is scheduled to report its next earnings results after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Tanger Factory Outlet Centers will report full year sales of $418.07 million for the current year, with estimates ranging from $414.33 million to $421.81 million. For the next fiscal year, analysts anticipate that the business will report sales of $425.98 million, with estimates ranging from $420.36 million to $431.59 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Tanger Factory Outlet Centers.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last issued its quarterly earnings results on Wednesday, February 16th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.03). Tanger Factory Outlet Centers had a net margin of 2.11% and a return on equity of 1.82%. During the same period last year, the firm posted $0.54 earnings per share.
Shares of SKT opened at $17.19 on Friday. Tanger Factory Outlet Centers has a twelve month low of $15.45 and a twelve month high of $22.51. The stock’s 50 day moving average is $17.04 and its two-hundred day moving average is $18.16. The firm has a market capitalization of $1.80 billion, a PE ratio of 245.61, a P/E/G ratio of 1.20 and a beta of 1.86. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.80.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Friday, April 29th will be paid a dividend of $0.20 per share. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, April 28th. This represents a $0.80 annualized dividend and a dividend yield of 4.65%. Tanger Factory Outlet Centers’s payout ratio is 1,043.01%.
In other news, CAO Thomas Joseph Guerrieri, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $17.25, for a total transaction of $34,500.00. Following the sale, the chief accounting officer now owns 45,894 shares of the company’s stock, valued at approximately $791,671.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.80% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. UBS Group AG lifted its stake in Tanger Factory Outlet Centers by 31.2% in the 3rd quarter. UBS Group AG now owns 360,900 shares of the real estate investment trust’s stock valued at $5,883,000 after buying an additional 85,750 shares in the last quarter. GSI Capital Advisors LLC purchased a new stake in Tanger Factory Outlet Centers in the 3rd quarter valued at approximately $3,767,000. Public Sector Pension Investment Board lifted its stake in Tanger Factory Outlet Centers by 9.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 225,496 shares of the real estate investment trust’s stock valued at $3,676,000 after buying an additional 19,516 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Tanger Factory Outlet Centers in the 4th quarter valued at approximately $413,000. Finally, Swiss National Bank raised its holdings in Tanger Factory Outlet Centers by 8.0% in the 3rd quarter. Swiss National Bank now owns 222,700 shares of the real estate investment trust’s stock valued at $3,630,000 after acquiring an additional 16,500 shares during the last quarter. 79.03% of the stock is currently owned by hedge funds and other institutional investors.
About Tanger Factory Outlet Centers (Get Rating)
Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies.
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