Tanger (NYSE:SKT) Updates FY 2025 Earnings Guidance

Key Points

• Tanger (NYSE:SKT) has updated its FY 2025 earnings guidance, projecting earnings per share (EPS) of 2.240-2.310, which exceeds the consensus estimate of 2.214.
• The company recently announced a quarterly dividend of $0.2925, reflecting an annualized yield of 3.8% and a payout ratio of 139.29%.
• Tanger's stock has received mixed analyst ratings, with five analysts rating it as a buy and five as a hold, while the average price target is set at $36.40.

Tanger (NYSE:SKT - Get Free Report) issued an update on its FY 2025 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.240-2.310 for the period, compared to the consensus earnings per share estimate of 2.214. The company issued revenue guidance of -.

Tanger Trading Down 0.4%

Shares of NYSE:SKT traded down $0.14 on Friday, hitting $31.80. 133,602 shares of the company's stock were exchanged, compared to its average volume of 960,752. Tanger has a 12 month low of $27.14 and a 12 month high of $37.57. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 36.16, a price-to-earnings-growth ratio of 2.14 and a beta of 1.23. The business's 50 day simple moving average is $30.84 and its two-hundred day simple moving average is $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.

Tanger (NYSE:SKT - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $133.44 million for 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 firm's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Analysts anticipate that Tanger will post 2.24 EPS for the current fiscal year.

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be issued a $0.2925 dividend. 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 payout ratio is presently 132.95%.

Analyst Ratings Changes

Several analysts recently commented on the company. Scotiabank dropped their price target on Tanger from $38.00 to $33.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Evercore ISI upgraded Tanger to a "hold" rating in a research report on Friday, May 2nd. Barclays assumed coverage on Tanger in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $33.00 price target for the company. Finally, LADENBURG THALM/SH SH assumed coverage on Tanger in a research report on Friday, July 18th. They set a "buy" rating and a $35.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tanger has an average rating of "Moderate Buy" and an average target price of $36.40.

Hedge Funds Weigh In On Tanger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 worth $27,073,000 after purchasing an additional 651,961 shares during the period. Royal Bank of Canada lifted its position in shares of Tanger by 2.8% during 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 acquiring an additional 3,995 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Tanger by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust's stock valued at $2,171,000 after acquiring an additional 3,631 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Tanger by 17.8% during the 1st quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust's stock valued at $1,291,000 after acquiring an additional 5,765 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of Tanger during the 1st quarter valued at $233,000. 85.23% of the stock is owned by 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.