Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Expected to Announce Earnings of $0.25 Per Share

Analysts expect Tanger Factory Outlet Centers, Inc. (NYSE:SKT) to report earnings per share (EPS) of $0.25 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Tanger Factory Outlet Centers’ earnings. The lowest EPS estimate is $0.17 and the highest is $0.34. Tanger Factory Outlet Centers reported earnings per share of $0.10 in the same quarter last year, which would indicate a positive year-over-year growth rate of 150%. The business is expected to report its next quarterly earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that Tanger Factory Outlet Centers will report full-year earnings of $1.42 per share for the current year, with EPS estimates ranging from $1.37 to $1.50. For the next fiscal year, analysts forecast that the firm will post earnings of $1.51 per share, with EPS estimates ranging from $1.43 to $1.56. Zacks’ earnings per share calculations are an 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 data on Wednesday, May 5th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.32). Tanger Factory Outlet Centers had a return on equity of 10.59% and a net margin of 10.63%.

SKT has been the topic of several research reports. The Goldman Sachs Group restated a “sell” rating and set a $12.50 price target (up from $11.00) on shares of Tanger Factory Outlet Centers in a research note on Monday, March 15th. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Tanger Factory Outlet Centers has an average rating of “Hold” and a consensus price target of $9.64.

SKT traded up $0.05 on Friday, hitting $19.09. 27,513 shares of the stock traded hands, compared to its average volume of 4,017,392. Tanger Factory Outlet Centers has a 52 week low of $5.46 and a 52 week high of $22.40. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 3.19. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 44.28, a PEG ratio of 10.53 and a beta of 2.03. The business has a fifty day moving average of $17.22.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 14th. Shareholders of record on Friday, April 30th were issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Thursday, April 29th. Tanger Factory Outlet Centers’s payout ratio is 44.94%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Tanger Factory Outlet Centers by 6.5% during the first quarter. BlackRock Inc. now owns 17,511,460 shares of the real estate investment trust’s stock valued at $264,947,000 after purchasing an additional 1,073,077 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Tanger Factory Outlet Centers by 107.2% during the first quarter. Ameriprise Financial Inc. now owns 2,443,436 shares of the real estate investment trust’s stock valued at $36,969,000 after purchasing an additional 1,264,046 shares in the last quarter. LSV Asset Management boosted its holdings in Tanger Factory Outlet Centers by 42.6% during the first quarter. LSV Asset Management now owns 1,856,457 shares of the real estate investment trust’s stock valued at $28,088,000 after purchasing an additional 554,228 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Tanger Factory Outlet Centers by 5.3% during the first quarter. Geode Capital Management LLC now owns 1,777,126 shares of the real estate investment trust’s stock valued at $26,887,000 after purchasing an additional 89,816 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Tanger Factory Outlet Centers by 244.9% during the first quarter. Nuveen Asset Management LLC now owns 1,721,765 shares of the real estate investment trust’s stock valued at $26,051,000 after purchasing an additional 1,222,493 shares in the last quarter. 77.32% of the stock is currently owned by institutional investors.

About Tanger Factory Outlet Centers

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

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