Tanger (NYSE:SKT) Announces Quarterly Earnings Results

Key Points

• Tanger (NYSE:SKT) reported a quarterly EPS of $0.58, exceeding expectations by $0.02 and updated its FY 2025 guidance to 2.240-2.310 EPS.
• The company declared a quarterly dividend of $0.2925 per share, representing an annual yield of 3.8% and a payout ratio of 139.29%.
• Analysts show a mixed sentiment towards Tanger, with five "hold" ratings and five "buy" ratings, and a consensus target price of $36.40.

Tanger (NYSE:SKT - Get Free Report) posted its earnings results on Monday. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02, Zacks reports. The company had revenue of $133.44 million during the quarter, compared to analyst estimates of $132.02 million. Tanger had a return on equity of 15.45% and a net margin of 18.22%. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. Tanger updated its FY 2025 guidance to 2.240-2.310 EPS.

Tanger Stock Down 0.3%

NYSE:SKT traded down $0.10 during trading hours on Friday, reaching $31.84. 154,238 shares of the stock were exchanged, compared to its average volume of 960,862. The firm has a 50 day moving average of $30.84 and a 200 day moving average of $31.84. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.11 and a quick ratio of 0.14. The stock has a market cap of $3.60 billion, a PE ratio of 36.25, a PEG ratio of 2.14 and a beta of 1.23. Tanger has a twelve month low of $27.14 and a twelve month high of $37.57.

Tanger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 3.7%. Tanger's dividend payout ratio is 132.95%.

Analyst Ratings Changes

Several equities research analysts have weighed in on SKT shares. LADENBURG THALM/SH SH began coverage on shares of Tanger in a report on Friday, July 18th. They issued a "buy" rating and a $35.00 target price on the stock. Evercore ISI raised Tanger to a "hold" rating in a research note on Friday, May 2nd. Scotiabank decreased their target price on Tanger from $38.00 to $33.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Finally, Barclays initiated coverage on Tanger in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $33.00 price target on the stock. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Tanger presently has a consensus rating of "Moderate Buy" and an average target price of $36.40.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Tanger by 436.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust's stock valued at $27,073,000 after buying an additional 651,961 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Tanger by 2.8% in the 1st quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust's stock valued at $4,905,000 after purchasing an additional 3,995 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Tanger by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust's stock worth $2,171,000 after buying an additional 3,631 shares during the last quarter. AQR Capital Management LLC increased its position in Tanger by 17.8% during the first quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust's stock worth $1,291,000 after buying an additional 5,765 shares during the last quarter. Finally, United Services Automobile Association bought a new stake in Tanger in the first quarter valued at approximately $233,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Company Profile

Tanger Inc NYSE: SKT is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.