Tanger Factory Outlet Centers Inc. (SKT) Given Average Rating of “Hold” by Analysts
Shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) have been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.50.
SKT has been the topic of a number of research analyst reports. Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, November 9th. Zacks Investment Research cut Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Bank of America upgraded Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a report on Thursday, November 9th. ValuEngine cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Jefferies Group reiterated a “hold” rating and issued a $26.00 target price on shares of Tanger Factory Outlet Centers in a report on Thursday, September 21st.
In related news, CMO Carrie A. Geldner sold 2,250 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total value of $55,125.00. Following the completion of the sale, the chief marketing officer now directly owns 51,261 shares of the company’s stock, valued at approximately $1,255,894.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.80% of the company’s stock.
Tanger Factory Outlet Centers (NYSE SKT) traded down $0.25 during trading on Friday, hitting $24.89. The company’s stock had a trading volume of 995,500 shares, compared to its average volume of 1,303,150. The company has a market cap of $2,350.00, a PE ratio of 40.15, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52. Tanger Factory Outlet Centers has a 52-week low of $21.81 and a 52-week high of $35.80. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.10 and a quick ratio of 0.10.
Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.77). Tanger Factory Outlet Centers had a return on equity of 8.98% and a net margin of 12.34%. sell-side analysts expect that Tanger Factory Outlet Centers will post 2.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a $0.343 dividend. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date of this dividend is Tuesday, January 30th. Tanger Factory Outlet Centers’s dividend payout ratio is presently 220.97%.
About Tanger Factory Outlet Centers
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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