Tanger (NYSE:SKT) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

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) released its quarterly earnings data on Monday. The real estate investment trust reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02, Zacks reports. Tanger had a net margin of 17.65% and a return on equity of 15.13%. Tanger updated its FY 2025 guidance to 2.240-2.310 EPS.

Tanger Stock Performance

Tanger stock traded up $0.97 during trading hours on Monday, reaching $30.49. 1,292,751 shares of the stock were exchanged, compared to its average volume of 957,032. The stock has a market cap of $3.45 billion, a P/E ratio of 36.29, a P/E/G ratio of 1.95 and a beta of 1.23. The firm's 50 day moving average is $30.65 and its 200 day moving average is $31.86. Tanger has a 52-week low of $26.62 and a 52-week high of $37.57. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.14 and a current ratio of 0.14.

Tanger Announces Dividend

The company also recently disclosed 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 is Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 3.8%. Tanger's dividend payout ratio is presently 139.29%.

Analyst Upgrades and Downgrades

SKT has been the subject of several analyst reports. LADENBURG THALM/SH SH started coverage on Tanger in a report on Friday, July 18th. They issued a "buy" rating and a $35.00 price objective for the company. Evercore ISI raised Tanger to a "hold" rating in a report on Friday, May 2nd. Barclays assumed coverage on shares of Tanger in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $33.00 target price on the stock. Finally, Scotiabank lowered their target price on shares of Tanger from $38.00 to $33.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $36.40.

Hedge Funds Weigh In On Tanger

A number of large investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Tanger by 436.9% during 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 worth $27,073,000 after buying an additional 651,961 shares in the last quarter. Royal Bank of Canada increased its position in Tanger by 2.8% during the first quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust's stock worth $4,905,000 after buying an additional 3,995 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 in the last quarter. AQR Capital Management LLC grew its holdings in shares of 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 in the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Tanger during the first quarter worth about $233,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

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.

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