Wall Street brokerages forecast that Tanger Factory Outlet Centers, Inc. (NYSE:SKT) will post sales of $123.35 million for the current quarter, Zacks reports. Three analysts have provided estimates for Tanger Factory Outlet Centers’ earnings, with the lowest sales estimate coming in at $122.19 million and the highest estimate coming in at $125.26 million. Tanger Factory Outlet Centers reported sales of $124.56 million during the same quarter last year, which indicates a negative year over year growth rate of 1%. The firm is scheduled to report its next earnings results on Tuesday, February 13th.

According to Zacks, analysts expect that Tanger Factory Outlet Centers will report full year sales of $123.35 million for the current financial year, with estimates ranging from $474.82 million to $480.37 million. For the next financial year, analysts expect that the firm will report sales of $482.84 million per share, with estimates ranging from $475.32 million to $491.11 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Tanger Factory Outlet Centers.

Several equities analysts have commented on SKT shares. Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, November 9th. Zacks Investment Research lowered Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. BidaskClub upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. KeyCorp reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Friday, August 25th. Finally, Bank of America Corporation upgraded Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Tanger Factory Outlet Centers currently has an average rating of “Hold” and a consensus target price of $27.00.

In other news, SVP Carrie A. Geldner sold 1,800 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $24.18, for a total value of $43,524.00. Following the completion of the sale, the senior vice president now directly owns 53,511 shares in the company, valued at $1,293,895.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.80% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the company. Advisor Group Inc. increased its holdings in shares of Tanger Factory Outlet Centers by 6.5% during the second quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 303 shares in the last quarter. BB&T Securities LLC increased its holdings in shares of Tanger Factory Outlet Centers by 6.2% during the second quarter. BB&T Securities LLC now owns 8,575 shares of the real estate investment trust’s stock worth $222,000 after buying an additional 501 shares in the last quarter. Utah Retirement Systems increased its holdings in shares of Tanger Factory Outlet Centers by 2.8% during the second quarter. Utah Retirement Systems now owns 21,773 shares of the real estate investment trust’s stock worth $566,000 after buying an additional 588 shares in the last quarter. State Treasurer State of Michigan increased its holdings in shares of Tanger Factory Outlet Centers by 1.8% during the second quarter. State Treasurer State of Michigan now owns 39,800 shares of the real estate investment trust’s stock worth $1,034,000 after buying an additional 700 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Tanger Factory Outlet Centers by 1.8% during the second quarter. Arizona State Retirement System now owns 40,700 shares of the real estate investment trust’s stock worth $1,057,000 after buying an additional 700 shares in the last quarter. Institutional investors own 96.53% of the company’s stock.

Tanger Factory Outlet Centers (NYSE SKT) traded down $0.21 during midday trading on Thursday, hitting $24.51. The company had a trading volume of 1,743,600 shares, compared to its average volume of 1,587,129. Tanger Factory Outlet Centers has a fifty-two week low of $21.81 and a fifty-two week high of $37.34. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.91. The firm has a market cap of $2,360.00, a PE ratio of 12.06, a PEG ratio of 3.35 and a beta of 0.47.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were given a $0.3425 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.59%. Tanger Factory Outlet Centers’s payout ratio is 220.97%.

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Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

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Earnings History and Estimates for Tanger Factory Outlet Centers (NYSE:SKT)

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