Tanger Inc. (NYSE:SKT) Stock to Pay Quarterly Dividend of $0.31

Key Points

• Tanger declared a quarterly dividend of $0.3125 per share, payable November 13 to shareholders of record October 30. The annualized dividend is $1.25 per share, representing a 3.5% yield.
• Tanger has increased its dividend for four consecutive years, but its current 127.6% payout ratio exceeds earnings coverage. Analysts expect improved coverage next year, with projected earnings of $2.62 per share and a 47.7% payout ratio.
• In its latest quarter, Tanger reported $0.29 in EPS and $156.39 million in revenue, exceeding analyst estimates, while revenue rose 11.2% year over year.

Tanger Inc. (NYSE:SKT - Get Free Report) announced a quarterly dividend on Thursday, October 15th. Shareholders of record on Friday, October 30th will be given a dividend of $0.3125 per share by the real estate investment trust on Friday, November 13th. This represents a $1.25 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, October 30th.

Tanger has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Tanger has a payout ratio of 127.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Tanger to earn $2.62 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 47.7%.

Tanger Stock Performance

SKT traded up $0.92 during mid-day trading on Thursday, reaching $35.25. 1,336,232 shares of the company traded hands, compared to its average volume of 967,385. The company's fifty day moving average price is $36.67 and its 200-day moving average price is $37.50. The stock has a market capitalization of $4.05 billion, a P/E ratio of 32.04, a P/E/G ratio of 1.70 and a beta of 1.12. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 2.65. Tanger has a 52-week low of $31.13 and a 52-week high of $42.53.

Tanger (NYSE:SKT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. Tanger had a return on equity of 17.72% and a net margin of 20.74%. The firm had revenue of $156.39 million for the quarter, compared to the consensus estimate of $142.58 million. During the same period last year, the business posted $0.58 EPS. The company's revenue for the quarter was up 11.2% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. On average, sell-side analysts expect that Tanger will post 2.50 EPS for the current year.

Tanger Company Profile

Tanger Inc is a real estate investment trust that owns, operates and develops open-air outlet shopping centers. The company leases retail space to a broad range of brand-name and designer retailers, including apparel, footwear, accessories, home goods and other consumer-oriented businesses.

Founded in 1981 by Stanley K. Tanger, the company helped establish the outlet-center format in the United States. Tanger's properties are designed to serve both local shoppers and tourists, with tenants offering merchandise through outlet and value-oriented retail concepts.

Tanger serves markets across the United States and Canada through a portfolio of outlet centers located near major metropolitan areas, tourist destinations and highway corridors.

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