Brokerages Anticipate Tanger Factory Outlet Centers Inc. (SKT) to Post $0.57 EPS

Equities analysts forecast that Tanger Factory Outlet Centers Inc. (NYSE:SKT) will announce earnings per share of $0.57 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Tanger Factory Outlet Centers’ earnings. The highest EPS estimate is $0.58 and the lowest is $0.55. Tanger Factory Outlet Centers posted earnings of $0.56 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.8%. The business is expected to announce its next quarterly earnings report after the market closes on Monday, May 1st.

On average, analysts expect that Tanger Factory Outlet Centers will report full year earnings of $2.45 per share for the current fiscal year, with EPS estimates ranging from $2.43 to $2.45. For the next fiscal year, analysts forecast that the firm will post earnings of $2.59 per share, with EPS estimates ranging from $2.58 to $2.61. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Tanger Factory Outlet Centers.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its earnings results on Tuesday, February 14th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.61. Tanger Factory Outlet Centers had a net margin of 60.55% and a return on equity of 42.50%. The business had revenue of $124.60 million for the quarter, compared to analyst estimates of $122.17 million. During the same period in the prior year, the company posted $0.58 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis.

Several brokerages have issued reports on SKT. Zacks Investment Research downgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Thursday, January 5th. Jefferies Group LLC raised shares of Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and upped their price target for the company from $41.00 to $42.00 in a report on Wednesday, January 4th. Finally, Evercore ISI raised shares of Tanger Factory Outlet Centers from a “hold” rating to an “outperform” rating in a report on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $40.11.

In other Tanger Factory Outlet Centers news, EVP Chad Perry sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $34.45, for a total value of $103,350.00. Following the sale, the executive vice president now owns 89,112 shares of the company’s stock, valued at $3,069,908.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carrie A. Geldner sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $33.75, for a total transaction of $67,500.00. Following the completion of the sale, the senior vice president now directly owns 56,756 shares in the company, valued at approximately $1,915,515. The disclosure for this sale can be found here. Insiders sold 38,054 shares of company stock worth $1,284,414 in the last ninety days. Insiders own 2.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in SKT. BlackRock Inc. increased its position in shares of Tanger Factory Outlet Centers by 4.7% in the third quarter. BlackRock Inc. now owns 377,436 shares of the real estate investment trust’s stock valued at $14,704,000 after buying an additional 17,087 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of Tanger Factory Outlet Centers by 1.5% in the third quarter. Suntrust Banks Inc. now owns 97,217 shares of the real estate investment trust’s stock valued at $3,784,000 after buying an additional 1,428 shares during the last quarter. Northern Trust Corp increased its position in shares of Tanger Factory Outlet Centers by 7.0% in the third quarter. Northern Trust Corp now owns 1,201,265 shares of the real estate investment trust’s stock valued at $46,801,000 after buying an additional 78,916 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Tanger Factory Outlet Centers by 7.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 253,700 shares of the real estate investment trust’s stock valued at $8,944,000 after buying an additional 16,523 shares during the last quarter. Finally, FMR LLC increased its position in shares of Tanger Factory Outlet Centers by 57.4% in the fourth quarter. FMR LLC now owns 1,201,600 shares of the real estate investment trust’s stock valued at $42,993,000 after buying an additional 438,200 shares during the last quarter. 94.39% of the stock is currently owned by institutional investors and hedge funds.

WARNING: “Brokerages Anticipate Tanger Factory Outlet Centers Inc. (SKT) to Post $0.57 EPS” was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://sportsperspectives.com/2017/05/20/brokerages-anticipate-tanger-factory-outlet-centers-inc-skt-to-post-0-57-eps-updated-updated-updated.html.

Tanger Factory Outlet Centers (NYSE:SKT) traded down 0.30% during midday trading on Monday, hitting $33.39. 896,023 shares of the stock traded hands. Tanger Factory Outlet Centers has a one year low of $30.98 and a one year high of $42.20. The company has a market cap of $3.18 billion, a P/E ratio of 16.61 and a beta of 0.41. The company’s 50 day moving average is $32.57 and its 200-day moving average is $34.41.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 28th will be issued a $0.3425 dividend. This represents a $1.37 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Wednesday, April 26th. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.33. Tanger Factory Outlet Centers’s dividend payout ratio is 44.98%.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

5 Day Chart for NYSE:SKT

Get a free copy of the Zacks research report on Tanger Factory Outlet Centers (SKT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Tanger Factory Outlet Centers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger Factory Outlet Centers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply