Tanger (SKT) Expected to Announce Earnings on Wednesday

Tanger (NYSE:SKT - Get Free Report) is expected to be posting its Q1 2025 quarterly earnings results after the market closes on Wednesday, April 30th. Analysts expect the company to announce earnings of $0.53 per share and revenue of $128.24 million for the quarter. Tanger has set its FY 2025 guidance at 2.220-2.300 EPS.

Tanger (NYSE:SKT - Get Free Report) last announced its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The firm had revenue of $132.17 million for the quarter, compared to analysts' expectations of $129.10 million. On average, analysts expect Tanger to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Tanger Trading Down 0.0 %

NYSE SKT traded down $0.01 during trading hours on Monday, hitting $32.09. 145,454 shares of the company were exchanged, compared to its average volume of 766,477. Tanger has a 52 week low of $25.94 and a 52 week high of $37.57. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. The stock has a 50-day moving average price of $32.94 and a 200 day moving average price of $33.93. The stock has a market cap of $3.63 billion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 2.97 and a beta of 1.49.

Tanger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Wednesday, April 30th. This is a positive change from Tanger's previous quarterly dividend of $0.28. Tanger's payout ratio is 134.48%.

Analyst Ratings Changes

SKT has been the topic of a number of research reports. The Goldman Sachs Group raised shares of Tanger from a "neutral" rating to a "buy" rating and raised their target price for the stock from $39.00 to $40.00 in a research report on Friday, March 28th. BMO Capital Markets initiated coverage on Tanger in a report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 price objective on the stock. Finally, Scotiabank lowered their target price on Tanger from $38.00 to $33.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Tanger presently has an average rating of "Moderate Buy" and an average price target of $37.00.

Insider Buying and Selling at Tanger

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total value of $404,750.00. Following the sale, the chief operating officer now owns 113,158 shares in the company, valued at $3,664,056.04. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.70% of the stock is currently owned by company insiders.

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.