Research Analysts Set Expectations for Tanger Factory Outlet Centers, Inc.’s FY2018 Earnings (SKT)

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) – Investment analysts at Jefferies Group lowered their FY2018 earnings per share estimates for shares of Tanger Factory Outlet Centers in a research report issued to clients and investors on Monday. Jefferies Group analyst O. Okusanya now forecasts that the real estate investment trust will post earnings per share of $2.46 for the year, down from their prior forecast of $2.49. Jefferies Group has a “Hold” rating and a $26.00 price target on the stock.

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A number of other equities research analysts also recently commented on SKT. Bank of America Corporation raised Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 9th. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup Inc. lowered their price objective on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research report on Friday, November 10th. Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, November 9th. Finally, BidaskClub raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $27.00.

Shares of Tanger Factory Outlet Centers (NYSE:SKT) traded up $0.42 during trading hours on Tuesday, hitting $24.93. The stock had a trading volume of 2,173,119 shares, compared to its average volume of 1,589,768. The stock has a market capitalization of $2,360.00, a P/E ratio of 12.06, a P/E/G ratio of 3.35 and a beta of 0.47. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.10 and a current ratio of 0.10. Tanger Factory Outlet Centers has a twelve month low of $21.81 and a twelve month high of $37.34.

Hedge funds have recently bought and sold shares of the business. State Street Corp lifted its stake in shares of Tanger Factory Outlet Centers by 11.2% during the second quarter. State Street Corp now owns 11,298,397 shares of the real estate investment trust’s stock worth $293,533,000 after purchasing an additional 1,140,291 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Tanger Factory Outlet Centers by 29.5% during the third quarter. Principal Financial Group Inc. now owns 5,110,454 shares of the real estate investment trust’s stock worth $124,797,000 after purchasing an additional 1,163,429 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Tanger Factory Outlet Centers by 4.7% during the third quarter. Bank of New York Mellon Corp now owns 2,556,803 shares of the real estate investment trust’s stock worth $62,437,000 after purchasing an additional 115,480 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Tanger Factory Outlet Centers by 3.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,419,021 shares of the real estate investment trust’s stock worth $34,654,000 after purchasing an additional 42,345 shares in the last quarter. Finally, First Manhattan Co. lifted its stake in shares of Tanger Factory Outlet Centers by 32.1% during the third quarter. First Manhattan Co. now owns 1,408,982 shares of the real estate investment trust’s stock worth $34,407,000 after purchasing an additional 342,144 shares in the last quarter. 96.53% of the stock is owned by hedge funds and other institutional investors.

In other Tanger Factory Outlet Centers news, SVP Carrie A. Geldner sold 1,800 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $24.18, for a total transaction of $43,524.00. Following the completion of the sale, the senior vice president now owns 53,511 shares of the company’s stock, valued at $1,293,895.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.80% of the stock is currently owned by insiders.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st were given a dividend of $0.3425 per share. This represents a $1.37 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend was Monday, October 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 220.97%.

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.

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

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