Tanger Inc. (NYSE:SKT) Plans Quarterly Dividend of $0.31

Key Points

• Tanger declared a quarterly dividend of $0.3125 per share, payable May 15 to shareholders of record April 30 (ex-dividend April 30); this is a 6.8% increase from the prior $0.29 and implies a 3.4% yield.
• Dividend sustainability is a concern: the company currently has a 119.4% payout ratio (unable to cover the dividend with current earnings and relying on its balance sheet), though analysts forecast $2.34 EPS next year implying a projected payout ratio of about 50%.
• Stock snapshot: SKT traded near $36.41 with a 52‑week range of $28.69–$37.95, market cap ~ $4.17B and a trailing P/E of 36.41.

Tanger Inc. (NYSE:SKT - Get Free Report) declared a quarterly dividend on Monday, April 13th. Shareholders of record on Thursday, April 30th will be paid a dividend of 0.3125 per share by the real estate investment trust on Friday, May 15th. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, April 30th. This is a 6.8% increase from Tanger's previous quarterly dividend of $0.29.

Tanger has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Tanger has a payout ratio of 119.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Tanger to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 50.0%.

Tanger Stock Performance

Shares of Tanger stock traded down $0.06 during trading hours on Monday, reaching $36.41. The company had a trading volume of 749,689 shares, compared to its average volume of 1,007,929. Tanger has a one year low of $28.69 and a one year high of $37.95. The business has a fifty day simple moving average of $34.96 and a 200 day simple moving average of $33.92. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $4.17 billion, a PE ratio of 36.41, a price-to-earnings-growth ratio of 1.75 and a beta of 1.20.

About Tanger

Tanger Factory Outlet Centers, Inc NYSE: SKT is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company's portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger's centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.

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