NYSE:SKT - Tanger Factory Outlet Centers Stock Price, News, & Analysis

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$18.12 +0.38 (+2.14 %)
(As of 05/21/2019 04:00 PM ET)
Previous Close$17.74
Today's Range$17.66 - $18.19
52-Week Range$17.66 - $24.91
Volume1.80 million shs
Average Volume1.42 million shs
Market Capitalization$1.71 billion
P/E Ratio7.31
Dividend Yield8.00%
Beta0.71
Tanger Factory Outlet Centers, Inc. (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 40 upscale outlet shopping centers. Tanger's operating properties are located in 20 states coast to coast and in Canada, totaling approximately 14.4 million square feet leased to over 2,900 stores operated by more than 500 different brand name companies. The Company has more than 38 years of experience in the outlet industry. Tanger Outlet Centers continue to attract more than 181 million shoppers annually. Tanger is furnishing a Form 8-K with the Securities and Exchange Commission that includes a supplemental information package for the quarter ended March 31, 2019.

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Industry, Sector and Symbol

Industry Real estate investment trusts
Sub-IndustryRetail REITs
SectorFinance
CUSIP87546510
Phone336-292-3010

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$494.68 million
Cash Flow$1.8836 per share
Book Value$5.35 per share

Profitability

Net Income$43.65 million

Miscellaneous

Employees285
Market Cap$1.71 billion
Next Earnings Date7/30/2019 (Estimated)
OptionableOptionable

Tanger Factory Outlet Centers (NYSE:SKT) Frequently Asked Questions

What is Tanger Factory Outlet Centers' stock symbol?

Tanger Factory Outlet Centers trades on the New York Stock Exchange (NYSE) under the ticker symbol "SKT."

How often does Tanger Factory Outlet Centers pay dividends? What is the dividend yield for Tanger Factory Outlet Centers?

Tanger Factory Outlet Centers announced a quarterly dividend on Thursday, February 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.355 per share on Wednesday, May 15th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 7.84%. The ex-dividend date of this dividend is Monday, April 29th. This is an increase from Tanger Factory Outlet Centers's previous quarterly dividend of $0.35. View Tanger Factory Outlet Centers' Dividend History.

How will Tanger Factory Outlet Centers' stock buyback program work?

Tanger Factory Outlet Centers declared that its Board of Directors has approved a share repurchase program on Sunday, June 4th 2017, which authorizes the company to repurchase $125,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization authorizes the company to reacquire up to 54% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

How were Tanger Factory Outlet Centers' earnings last quarter?

Tanger Factory Outlet Centers Inc. (NYSE:SKT) announced its quarterly earnings results on Monday, May, 6th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.57 by $0.09. The real estate investment trust earned $123.16 million during the quarter, compared to analyst estimates of $122.16 million. Tanger Factory Outlet Centers had a net margin of 16.76% and a return on equity of 15.71%. The company's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. View Tanger Factory Outlet Centers' Earnings History.

When is Tanger Factory Outlet Centers' next earnings date?

Tanger Factory Outlet Centers is scheduled to release their next quarterly earnings announcement on Tuesday, July 30th 2019. View Earnings Estimates for Tanger Factory Outlet Centers.

What guidance has Tanger Factory Outlet Centers issued on next quarter's earnings?

Tanger Factory Outlet Centers issued an update on its FY19 earnings guidance on Monday, May, 6th. The company provided earnings per share guidance of $2.22-2.28 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.25.

What price target have analysts set for SKT?

5 equities research analysts have issued twelve-month target prices for Tanger Factory Outlet Centers' shares. Their forecasts range from $15.00 to $27.00. On average, they anticipate Tanger Factory Outlet Centers' stock price to reach $21.25 in the next twelve months. This suggests a possible upside of 17.3% from the stock's current price. View Analyst Price Targets for Tanger Factory Outlet Centers.

What is the consensus analysts' recommendation for Tanger Factory Outlet Centers?

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Tanger Factory Outlet Centers in the last year. There are currently 3 sell ratings, 1 hold rating and 1 buy rating for the stock, resulting in a consensus recommendation of "Hold." View Analyst Ratings for Tanger Factory Outlet Centers.

What are Wall Street analysts saying about Tanger Factory Outlet Centers stock?

Here are some recent quotes from research analysts about Tanger Factory Outlet Centers stock:
  • 1. According to Zacks Investment Research, "Tanger Factory Outlet Centers, Inc. is a fully-integrated, self-administered and self-managed real estate investment trust which focuses exclusively on developing, acquiring, owning and operating factory outlet centers. Since entering the factory outlet center business, they have become one of the largest owners and operators of factory outlet centers in the United States. " (4/2/2019)
  • 2. Boenning Scattergood analysts commented, "We are initiating coverage of Centers (SKT) with an Outperform rating and a $27.00 price target. We consider the risks to the dividend to be low and we note that SKT has a strong balance sheet. Although it was recently downgraded by S&P to BBB from BBB+, we expect it will generate sufficient free cash flow in 2019 to reduce indebtedness. We believe SKT has created an extra layer of value by branding its properties. TangerOutlets® have a reputation for selling brand-name goods at a discount, and that reputation and branding draws shoppers to its centers. In 2018, same center NOI contracted because of high tenant closures and rent roll-downs as digital offerings disrupted traditional retailing, and we expect NOI to contract in 2019 and possibly longer." (3/25/2019)

Has Tanger Factory Outlet Centers been receiving favorable news coverage?

News coverage about SKT stock has trended somewhat negative this week, according to InfoTrie Sentiment Analysis. The research group ranks the sentiment of press coverage by monitoring more than six thousand news and blog sources in real-time. The firm ranks coverage of companies on a scale of -5 to 5, with scores closest to five being the most favorable. Tanger Factory Outlet Centers earned a media sentiment score of -1.2 on InfoTrie's scale. They also assigned media headlines about the real estate investment trust a news buzz of 10.0 out of 10, indicating that recent press coverage is extremely likely to have an effect on the company's share price in the next few days.

Are investors shorting Tanger Factory Outlet Centers?

Tanger Factory Outlet Centers saw a increase in short interest during the month of April. As of April 30th, there was short interest totalling 30,212,685 shares, an increase of 11.4% from the April 15th total of 27,119,020 shares. Based on an average daily trading volume, of 2,161,948 shares, the short-interest ratio is presently 14.0 days. Currently, 32.9% of the company's shares are short sold. View Tanger Factory Outlet Centers' Current Options Chain.

Who are some of Tanger Factory Outlet Centers' key competitors?

What other stocks do shareholders of Tanger Factory Outlet Centers own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Tanger Factory Outlet Centers investors own include AT&T (T), Delta Air Lines (DAL), Verizon Communications (VZ), Cisco Systems (CSCO), Simon Property Group (SPG), Ventas (VTR), WP Carey (WPC), Intel (INTC), Enterprise Products Partners (EPD) and AbbVie (ABBV).

Who are Tanger Factory Outlet Centers' key executives?

Tanger Factory Outlet Centers' management team includes the folowing people:
  • Mr. Steven B. Tanger, CEO & Director (Age 70)
  • Mr. Thomas E. McDonough, Pres & COO (Age 61)
  • Mr. James F. Williams CPA, Exec. VP & CFO (Age 54)
  • Mr. Gareth Taylor, Exec. VP, Gen. Counsel & Sec.
  • Ms. Lisa J. Morrison, Exec. VP of Leasing (Age 59)

Who are Tanger Factory Outlet Centers' major shareholders?

Tanger Factory Outlet Centers' stock is owned by a number of of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (14.33%), Principal Financial Group Inc. (7.06%), Ceredex Value Advisors LLC (2.67%), Northern Trust Corp (1.92%), Charles Schwab Investment Management Inc. (1.63%) and Dimensional Fund Advisors LP (1.56%). Company insiders that own Tanger Factory Outlet Centers stock include Carrie A Geldner, Carrie A Warren, Chad Perry, Charles Allen Worsham, Lisa J Morrison, Thomas E Mcdonough, Thomas Joseph Guerrieri Jr and Virginia R Summerell. View Institutional Ownership Trends for Tanger Factory Outlet Centers.

Which major investors are selling Tanger Factory Outlet Centers stock?

SKT stock was sold by a variety of institutional investors in the last quarter, including Morgan Stanley, Hsbc Holdings PLC, Strs Ohio, BlackRock Inc., Northstar Investment Advisors LLC, Wedge Capital Management L L P NC, Parametric Portfolio Associates LLC and Dupont Capital Management Corp. Company insiders that have sold Tanger Factory Outlet Centers company stock in the last year include Carrie A Warren, Chad Perry, Charles Allen Worsham, Lisa J Morrison, Thomas Joseph Guerrieri Jr and Virginia R Summerell. View Insider Buying and Selling for Tanger Factory Outlet Centers.

Which major investors are buying Tanger Factory Outlet Centers stock?

SKT stock was bought by a variety of institutional investors in the last quarter, including Renaissance Technologies LLC, Marshall Wace North America L.P., Man Group plc, Diamond Hill Capital Management Inc., Edmp Inc., Principal Financial Group Inc., Pennsylvania Trust Co and Pennsylvania Trust Co. View Insider Buying and Selling for Tanger Factory Outlet Centers.

How do I buy shares of Tanger Factory Outlet Centers?

Shares of SKT can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

What is Tanger Factory Outlet Centers' stock price today?

One share of SKT stock can currently be purchased for approximately $18.12.

How big of a company is Tanger Factory Outlet Centers?

Tanger Factory Outlet Centers has a market capitalization of $1.71 billion and generates $494.68 million in revenue each year. The real estate investment trust earns $43.65 million in net income (profit) each year or $2.48 on an earnings per share basis. Tanger Factory Outlet Centers employs 285 workers across the globe.

What is Tanger Factory Outlet Centers' official website?

The official website for Tanger Factory Outlet Centers is http://www.tangeroutlet.com/.

How can I contact Tanger Factory Outlet Centers?

Tanger Factory Outlet Centers' mailing address is 3200 NORTHLINE AVENUE SUITE 360, GREENSBORO NC, 27408. The real estate investment trust can be reached via phone at 336-292-3010 or via email at [email protected]


MarketBeat Community Rating for Tanger Factory Outlet Centers (NYSE SKT)

Community Ranking:  2.2 out of 5 (star star)
Outperform Votes:  316 (Vote Outperform)
Underperform Votes:  407 (Vote Underperform)
Total Votes:  723
MarketBeat's community ratings are surveys of what our community members think about Tanger Factory Outlet Centers and other stocks. Vote "Outperform" if you believe SKT will outperform the S&P 500 over the long term. Vote "Underperform" if you believe SKT will underperform the S&P 500 over the long term. You may vote once every thirty days.
This page was last updated on 5/21/2019 by MarketBeat.com Staff

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