Tanger (SKT) to Release Earnings on Tuesday

Tanger (NYSE:SKT) is set to release its earnings data after the market closes on Tuesday, April 30th. Analysts expect Tanger to post earnings of $0.50 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Tanger Stock Performance

NYSE:SKT opened at $28.88 on Friday. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.19 and a current ratio of 0.19. The company has a fifty day moving average of $28.46 and a two-hundred day moving average of $26.81. The stock has a market capitalization of $3.15 billion, a PE ratio of 31.39, a P/E/G ratio of 3.62 and a beta of 1.83. Tanger has a fifty-two week low of $18.00 and a fifty-two week high of $29.98.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, April 29th. This is a boost from Tanger’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a yield of 3.81%. Tanger’s dividend payout ratio is currently 113.04%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SKT shares. Bank of America upgraded shares of Tanger from an “underperform” rating to a “neutral” rating and increased their target price for the company from $24.00 to $31.00 in a research report on Friday, April 5th. 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. Finally, Citigroup upgraded shares of Tanger from a “neutral” rating to a “buy” rating and increased their target price for the company from $30.00 to $33.00 in a research report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.