Tanger (NYSE:SKT) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Tanger (NYSE:SKT) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02, Zacks reports. The company had revenue of $132.17 million during the quarter, compared to analyst estimates of $129.10 million. Tanger had a return on equity of 16.82% and a net margin of 18.65%. Tanger updated its FY 2025 guidance to 2.220-2.300 EPS.

Tanger Trading Down 0.9 %

NYSE:SKT opened at $35.62 on Friday. The firm has a market capitalization of $3.94 billion, a P/E ratio of 40.94, a PEG ratio of 2.87 and a beta of 1.91. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. Tanger has a one year low of $25.94 and a one year high of $37.57. The company’s 50-day simple moving average is $33.77 and its 200 day simple moving average is $33.16.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.275 per share. The ex-dividend date was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.09%. Tanger’s dividend payout ratio (DPR) is currently 126.44%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. BMO Capital Markets started coverage on shares of Tanger in a research note on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target on the stock. Citigroup increased their target price on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group upped their price objective on Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft assumed coverage on Tanger in a research report on Tuesday, December 17th. They set a “hold” rating and a $37.00 price objective on the stock. Finally, Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $40.00 in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.00.

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.