Tanger Factory Outlet Centers (NYSE:SKT) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05, Yahoo Finance reports. Tanger Factory Outlet Centers had a net margin of 12.34% and a return on equity of 8.98%. The business had revenue of $126.49 million during the quarter, compared to analysts’ expectations of $122.67 million. Tanger Factory Outlet Centers updated its FY18 guidance to $2.43-2.49 EPS.
Shares of Tanger Factory Outlet Centers (SKT) traded down $1.60 during midday trading on Wednesday, hitting $21.87. 6,845,135 shares of the stock were exchanged, compared to its average volume of 1,727,377. The firm has a market cap of $2,030.00, a P/E ratio of 35.28, a P/E/G ratio of 2.98 and a beta of 0.44. Tanger Factory Outlet Centers has a 1 year low of $21.14 and a 1 year high of $34.76. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.91.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.343 per share. This represents a $1.37 dividend on an annualized basis and a yield of 6.27%. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, January 30th. Tanger Factory Outlet Centers’s payout ratio is presently 220.97%.
In other news, CMO Carrie A. Geldner sold 2,250 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $24.50, for a total value of $55,125.00. Following the transaction, the chief marketing officer now owns 51,261 shares in the company, valued at approximately $1,255,894.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is currently owned by 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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