Tanger Factory Outlet Centers (NYSE:SKT) releases earnings guidance for fiscal 2022

Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) updated its earnings guidance for fiscal 2022 on Monday. The company provided EPS guidance of $1.71 to $1.79 for the period. The company gave a sales forecast of -.

Shares of SKT rose $0.45 during trading hours on Monday to hit $17.59. The company’s shares had a trading volume of 71,130 shares compared to an average volume of 1,026,426. The company has a 50-day moving average price of $17.05. Tanger Factory Outlet Centers has a 52-week low of $15.45 and a 52-week high of $22.51. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt to equity ratio of 2.80. The company has a market cap of $1.84 billion, a P/E of 77.91, a price-to-earnings-to-growth ratio of 1.18 and a beta of 1.77.

Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The Real Estate Investment Trust reported earnings per share of $0.19 for the quarter, missing analyst consensus estimates of $0.40 ($0.21). Tanger Factory Outlet Centers had a net margin of 5.84% and a return on equity of 5.07%. The company posted revenue of $108.87 million for the quarter, compared to analysts’ expectations of $101.62 million. In the same quarter last year, the company reported earnings per share of $0.40. The company’s quarterly revenue increased 8.1% year over year. As a group, sell-side analysts expect Tanger Factory Outlet Centers to post 1.73 YTD EPS.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, April 29 will receive a dividend of $0.20 per share. This is an increase from Tanger Factory Outlet Centers’ prior quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday April 28th. That equates to an annual dividend of $0.80 and a yield of 4.55%. Tanger Factory Outlet Centers payout ratio is currently 363.65%.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Tanger Factory Outlet Centers from a buy rating to a hold rating in a report Wednesday, May 4th. StockNews.com began reporting shares of Tanger Factory Outlet Centers in a report on Thursday, March 31st. You set a hold rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Tanger Factory Outlet Centers has an average rating of Hold and an average target price of $16.50.

Also on Friday, March 11, CAO Thomas Joseph Guerrieri, Jr. sold 2,000 shares of the company’s stock in a transaction. The shares sold at an average price of $17.25 for a total value of $34,500.00. Following the transaction, the Chief Accounting Officer now owns 45,894 shares of the Company, valued at $791,671.50. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Company insiders own 5.80% of the company’s shares.

Institutional investors and hedge funds have recently added to or reduced their holdings in the stock. Neo Ivy Capital Management acquired a new interest in Tanger Factory Outlet Centers valued at approximately $63,000 during the fourth quarter. The Royal Bank of Canada increased its position in Tangier factory outlet centers by 69.4% in the third quarter. The Royal Bank of Canada now owns 23,820 shares of the Real Estate Investment Trust worth $388,000 after purchasing an additional 9,762 shares during the period. Millennium Management LLC acquired a new interest in Tanger Factory Outlet Centers valued at approximately $461,000 during the third quarter. Allstate Corp acquired a new interest in Tanger Factory Outlet Centers valued at approximately $728,000 during the fourth quarter. Finally, the Tennessee Department of Treasury increased its position in Tanger factory outlet centers by 1.1% in the fourth quarter. The Tennessee Department of Treasury now owns 58,755 shares of Real Estate Investment Trust valued at $1,133,000 after purchasing an additional 659 shares during the period. 82.24% of the shares are currently owned by institutional investors and hedge funds.

Tanger Factory Outlet Centers Company Profile (get rating)

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of upscale, open-air outlet shopping centers that owns or has interests in a portfolio of 38 centers. Tangier’s corporate properties are located in 20 states and Canada, totaling approximately 14.1 million square feet leased to over 2,700 stores operated by more than 500 different brands.

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