Tanger (NYSE:SKT) Issues FY 2025 Earnings Guidance

Tanger (NYSE:SKT) updated its FY 2025 earnings guidance on Tuesday. The company provided EPS guidance of 2.280-2.320 for the period, compared to the consensus EPS estimate of 1.470. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SKT. Evercore ISI increased their target price on shares of Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Tanger from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Barclays raised their price objective on shares of Tanger from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Tanger in a research report on Friday, July 18th. They issued a “buy” rating and a $35.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Tanger presently has an average rating of “Moderate Buy” and an average price target of $37.00.

Tanger Price Performance

SKT traded up $0.31 on Wednesday, reaching $33.97. The company had a trading volume of 664,370 shares, compared to its average volume of 928,567. The business has a 50 day simple moving average of $33.43 and a 200 day simple moving average of $31.84. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 38.71, a P/E/G ratio of 2.13 and a beta of 1.37. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.11 and a current ratio of 0.11. Tanger has a 52-week low of $28.69 and a 52-week high of $37.57.

Tanger (NYSE:SKT) last announced its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $137.23 million for the quarter, compared to the consensus estimate of $139.30 million. Tanger had a net margin of 18.22% and a return on equity of 15.45%. Tanger’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $0.54 earnings per share. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. As a group, sell-side analysts anticipate that Tanger will post 2.24 EPS for the current year.

Tanger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, October 31st. Tanger’s dividend payout ratio (DPR) is currently 132.95%.

Insiders Place Their Bets

In related news, EVP Gallardo Leslie Swanson sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $34.74, for a total value of $607,950.00. Following the sale, the executive vice president directly owned 92,665 shares of the company’s stock, valued at $3,219,182.10. This trade represents a 15.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tanger

A number of hedge funds have recently made changes to their positions in SKT. M&T Bank Corp increased its position in Tanger by 3.3% during the 2nd quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust’s stock valued at $314,000 after purchasing an additional 326 shares during the period. California State Teachers Retirement System boosted its position in shares of Tanger by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 101,225 shares of the real estate investment trust’s stock worth $3,095,000 after purchasing an additional 391 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Tanger by 127.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 531 shares in the last quarter. Creative Planning boosted its position in shares of Tanger by 7.3% in the 2nd quarter. Creative Planning now owns 11,045 shares of the real estate investment trust’s stock worth $338,000 after purchasing an additional 756 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Tanger by 4.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 39,858 shares of the real estate investment trust’s stock worth $1,219,000 after purchasing an additional 1,847 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

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.