Tanger Factory Outlet Centers, Inc. (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies. The Company has more than 39 years of experience in the outlet industry and is a publicly-traded REIT. Tanger is furnishing a Form 8-K with the Securities and Exchange Commission ("SEC") that includes a supplemental information package for the quarter ended September 30, 2020.
Tanger Factory Outlet Centers Stock Performance
Tanger Factory Outlet Centers stock opened at $17.97 on Wednesday. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 2.72. The company has a market capitalization of $1.88 billion, a P/E ratio of 46.08, a PEG ratio of 1.25 and a beta of 1.79. The stock's 50 day moving average is $15.36 and its 200 day moving average is $16.45. Tanger Factory Outlet Centers has a twelve month low of $13.77 and a twelve month high of $22.51.
Tanger Factory Outlet Centers (NYSE:SKT - Get Rating) last released its quarterly earnings data on Monday, August 8th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.23). The business had revenue of $105.84 million during the quarter, compared to the consensus estimate of $104.45 million. Tanger Factory Outlet Centers had a net margin of 9.75% and a return on equity of 8.55%. The business's revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. On average, equities research analysts predict that Tanger Factory Outlet Centers will post 1.75 earnings per share for the current fiscal year.
Tanger Factory Outlet Centers Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 29th were given a $0.20 dividend. The ex-dividend date was Thursday, July 28th. This represents a $0.80 annualized dividend and a yield of 4.45%. Tanger Factory Outlet Centers's dividend payout ratio (DPR) is presently 205.13%.
Analysts Set New Price Targets
SKT has been the topic of a number of research analyst reports. Compass Point reduced their price target on Tanger Factory Outlet Centers from $23.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, June 22nd. Evercore ISI boosted their price target on Tanger Factory Outlet Centers to $17.00 in a report on Monday.