Somewhat Favorable Media Coverage Extremely Likely to Affect Tanger Factory Outlet Centers (SKT) Share Price
Media headlines about Tanger Factory Outlet Centers (NYSE:SKT) have trended somewhat positive this week, according to Alpha One Sentiment Analysis. Alpha One, a unit of Accern, identifies negative and positive news coverage by reviewing more than twenty million news and blog sources. Alpha One ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Tanger Factory Outlet Centers earned a coverage optimism score of 0.12 on Alpha One’s scale. Alpha One also assigned news coverage about the real estate investment trust an impact score of 100 out of 100, meaning that recent news coverage is extremely likely to have an impact on the stock’s share price in the immediate future.
These are some of the media stories that may have effected AlphaOne Sentiment’s scoring:
- Tanger Factory Outlet Centers, Inc. breached its 50 day moving average in a Bullish Manner : SKT-US : April 19, 2017 (finance.yahoo.com)
- Research Reports Coverage on REIT Stocks — Tanger Factory, Kite Realty, Ramco-Gershenson, and Hospitality Properties (bizjournals.com)
- Tanger Factory Outlet Centers (SKT) Receiving Positive Media Coverage, Study Shows (americanbankingnews.com)
- Tanger Factory Outlet Centers Inc. (SKT) Receives Consensus Rating of “Hold” from Brokerages (americanbankingnews.com)
- $0.57 Earnings Per Share Expected for Tanger Factory Outlet Centers Inc. (SKT) This Quarter (americanbankingnews.com)
A number of research analysts recently weighed in on the company. Zacks Investment Research cut Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Thursday, January 5th. Jefferies Group LLC reduced their target price on Tanger Factory Outlet Centers from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 27th. Finally, Evercore ISI upgraded Tanger Factory Outlet Centers from a “hold” rating to an “outperform” rating in a report on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Tanger Factory Outlet Centers currently has an average rating of “Hold” and an average target price of $40.11.
Shares of Tanger Factory Outlet Centers (NYSE:SKT) traded down 0.30% on Thursday, reaching $33.39. The company had a trading volume of 896,023 shares. Tanger Factory Outlet Centers has a 52-week low of $30.98 and a 52-week high of $42.20. The stock has a market capitalization of $3.18 billion, a PE ratio of 16.61 and a beta of 0.41. The company has a 50 day moving average price of $32.58 and a 200 day moving average price of $34.42.
Tanger Factory Outlet Centers (NYSE:SKT) last posted its earnings results on Tuesday, February 14th. The real estate investment trust reported $0.61 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $124.60 million for the quarter, compared to the consensus estimate of $122.17 million. Tanger Factory Outlet Centers had a net margin of 60.55% and a return on equity of 42.50%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. On average, equities research analysts anticipate that Tanger Factory Outlet Centers will post $1.01 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 28th will be issued a dividend of $0.3425 per share. This represents a $1.37 dividend on an annualized basis and a yield of 4.10%. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, April 26th. Tanger Factory Outlet Centers’s dividend payout ratio is 44.98%.
In other Tanger Factory Outlet Centers news, COO Thomas E. Mcdonough sold 10,409 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $32.69, for a total transaction of $340,270.21. Following the completion of the sale, the chief operating officer now directly owns 191,285 shares in the company, valued at $6,253,106.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Virginia R. Summerell sold 7,000 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $34.19, for a total transaction of $239,330.00. Following the sale, the vice president now owns 31,322 shares of the company’s stock, valued at $1,070,899.18. The disclosure for this sale can be found here. Insiders have sold 38,054 shares of company stock valued at $1,284,414 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.
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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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