Tanger Factory Outlet Centers (NYSE:SKT) Earns News Impact Rating of 0.13

News coverage about Tanger Factory Outlet Centers (NYSE:SKT) has trended somewhat positive recently, according to Accern Sentiment. The research firm identifies negative and positive media coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Tanger Factory Outlet Centers earned a daily sentiment score of 0.13 on Accern’s scale. Accern also gave news headlines about the real estate investment trust an impact score of 46.8088533406667 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.

Here are some of the news headlines that may have impacted Accern’s analysis:

Shares of Tanger Factory Outlet Centers (SKT) traded up 0.53% during midday trading on Tuesday, reaching $26.75. The company’s stock had a trading volume of 979,357 shares. Tanger Factory Outlet Centers has a 12 month low of $24.71 and a 12 month high of $42.20. The company’s 50-day moving average price is $26.12 and its 200-day moving average price is $31.56. The company has a market cap of $2.55 billion, a PE ratio of 13.65 and a beta of 0.45.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.35. Tanger Factory Outlet Centers had a net margin of 39.32% and a return on equity of 27.05%. The business had revenue of $121.37 million during the quarter, compared to the consensus estimate of $122.59 million. During the same period in the previous year, the business posted $0.56 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. On average, equities analysts anticipate that Tanger Factory Outlet Centers will post $1.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a $0.3425 dividend. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date is Thursday, July 27th. Tanger Factory Outlet Centers’s payout ratio is 69.90%.

Tanger Factory Outlet Centers declared that its Board of Directors has approved a share buyback plan on Friday, May 19th that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the real estate investment trust to buy up to 54% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Several research analysts have issued reports on SKT shares. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Saturday. BidaskClub upgraded Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a report on Thursday, June 29th. Citigroup Inc. upgraded Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating in a report on Monday, June 12th. ValuEngine lowered Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Jefferies Group LLC lowered Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and dropped their price target for the stock from $38.00 to $29.00 in a report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $35.71.

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In other Tanger Factory Outlet Centers news, Director Allan L. Schuman sold 32,930 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $28.52, for a total value of $939,163.60. Following the completion of the sale, the director now owns 43,953 shares of the company’s stock, valued at $1,253,539.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Chad Perry sold 8,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $27.57, for a total transaction of $220,560.00. Following the completion of the sale, the executive vice president now directly owns 78,112 shares of the company’s stock, valued at approximately $2,153,547.84. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Tanger Factory Outlet Centers Company Profile

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.

Insider Buying and Selling by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

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