Tanger Inc. (NYSE:SKT – Get Free Report) announced a quarterly dividend on Friday, October 11th, NASDAQ reports. Shareholders of record on Thursday, October 31st will be given a dividend of 0.275 per share by the real estate investment trust on Friday, November 15th. This represents a $1.10 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Thursday, October 31st.
Tanger has raised its dividend payment by an average of 10.8% annually over the last three years. Tanger has a dividend payout ratio of 123.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Tanger to earn $2.19 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 50.2%.
Tanger Stock Up 0.3 %
Shares of SKT traded up $0.10 during mid-day trading on Friday, reaching $33.63. The company’s stock had a trading volume of 497,929 shares, compared to its average volume of 744,797. Tanger has a 1 year low of $21.42 and a 1 year high of $34.13. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 37.39, a price-to-earnings-growth ratio of 3.42 and a beta of 1.89. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.53. The business has a fifty day moving average of $30.56 and a 200 day moving average of $28.64.
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About Tanger
Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.
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