Media coverage about Tanger Factory Outlet Centers (NYSE:SKT) has trended somewhat positive on Monday, Accern Sentiment reports. Accern scores the sentiment of media coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Tanger Factory Outlet Centers earned a coverage optimism score of 0.14 on Accern’s scale. Accern also gave news articles about the real estate investment trust an impact score of 45.3398039142949 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
A number of analysts have recently issued reports on the company. KeyCorp reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Friday, August 25th. BidaskClub lowered Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Boenning Scattergood set a $25.00 target price on Tanger Factory Outlet Centers and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Saturday, July 15th. Finally, Bank of America Corporation lowered Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $28.00 to $25.50 in a research report on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $32.43.
Shares of Tanger Factory Outlet Centers (NYSE:SKT) opened at 24.12 on Monday. The company has a 50-day moving average price of $25.21 and a 200 day moving average price of $28.34. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 16.02 and a beta of 0.47. Tanger Factory Outlet Centers has a one year low of $23.06 and a one year high of $40.19.
Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. The business had revenue of $119.60 million during the quarter, compared to analyst estimates of $122 million. Tanger Factory Outlet Centers had a net margin of 29.65% and a return on equity of 20.75%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, analysts forecast that Tanger Factory Outlet Centers will post $0.78 EPS for the current fiscal year.
Tanger Factory Outlet Centers declared that its Board of Directors has approved a share buyback plan on Friday, May 19th that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 54% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a dividend of $0.3425 per share. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend was Thursday, July 27th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 90.73%.
In other news, SVP Carrie A. Geldner sold 1,800 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $24.18, for a total transaction of $43,524.00. Following the completion of the transaction, the senior vice president now owns 53,511 shares of the company’s stock, valued at $1,293,895.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas E. Mcdonough sold 10,734 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $26.74, for a total transaction of $287,027.16. Following the transaction, the chief operating officer now directly owns 180,551 shares of the company’s stock, valued at approximately $4,827,933.74. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by corporate insiders.
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.
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