Tanger (NYSE:SKT) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Tanger (NYSE:SKT) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04, Zacks reports. The business had revenue of $156.39 million for the quarter, compared to analysts’ expectations of $142.58 million. Tanger had a return on equity of 17.60% and a net margin of 20.74%.The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. Tanger updated its FY 2026 guidance to 2.450-2.520 EPS.

Tanger Trading Down 1.6%

Shares of NYSE SKT traded down $0.67 during mid-day trading on Thursday, hitting $39.88. 102,656 shares of the company traded hands, compared to its average volume of 983,478. The business has a 50 day moving average of $39.69 and a two-hundred day moving average of $36.75. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 36.23, a PEG ratio of 2.08 and a beta of 1.10. Tanger has a 1 year low of $31.13 and a 1 year high of $42.53.

Tanger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.1%. Tanger’s payout ratio is 116.82%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research note on Friday, July 17th. Scotiabank boosted their price target on shares of Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tanger from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. LADENBURG THALM/SH SH increased their price objective on shares of Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Finally, BMO Capital Markets raised their target price on Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $39.70.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SKT. EverSource Wealth Advisors LLC lifted 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 valued at $29,000 after acquiring an additional 531 shares in the last quarter. Advisory Services Network LLC purchased a new position in Tanger during the 3rd quarter worth approximately $33,000. Garton & Associates Financial Advisors LLC purchased a new position in Tanger during the 4th quarter worth approximately $41,000. Quarry LP acquired a new stake in Tanger during the 3rd quarter valued at $49,000. Finally, Johnson Financial Group Inc. acquired a new position in Tanger during the third quarter valued at $77,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Tanger Company Profile

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company’s portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger’s centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.