Wall Street brokerages predict that Tanger Factory Outlet Centers Inc. (NYSE:SKT) will report $0.60 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Tanger Factory Outlet Centers’ earnings. The highest EPS estimate is $0.61 and the lowest is $0.60. Tanger Factory Outlet Centers reported earnings per share of $0.27 during the same quarter last year, which suggests a positive year-over-year growth rate of 122.2%. The business is expected to issue its next quarterly earnings results after the market closes on Thursday, November 1st.

On average, analysts expect that Tanger Factory Outlet Centers will report full year earnings of $2.43 per share for the current fiscal year, with EPS estimates ranging from $2.42 to $2.43. For the next year, analysts anticipate that the company will report earnings of $2.43 per share, with EPS estimates ranging from $2.40 to $2.46. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that follow Tanger Factory Outlet Centers.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.35). The firm had revenue of $117.08 million during the quarter, compared to analyst estimates of $116.92 million. Tanger Factory Outlet Centers had a return on equity of 10.34% and a net margin of 12.60%.

SKT has been the topic of a number of recent research reports. ValuEngine cut shares of Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a report on Friday, September 7th. Citigroup raised their target price on shares of Tanger Factory Outlet Centers from $21.00 to $22.50 and gave the stock a “neutral” rating in a report on Thursday, August 16th. Finally, Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Tanger Factory Outlet Centers currently has an average rating of “Hold” and an average target price of $21.83.

In other news, EVP Chad Perry sold 2,000 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $23.76, for a total transaction of $47,520.00. Following the sale, the executive vice president now owns 89,017 shares of the company’s stock, valued at $2,115,043.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 4,500 shares of company stock worth $107,930. Corporate insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKT. Prudential Financial Inc. raised its holdings in shares of Tanger Factory Outlet Centers by 35.6% during the first quarter. Prudential Financial Inc. now owns 209,355 shares of the real estate investment trust’s stock valued at $4,606,000 after buying an additional 54,920 shares during the last quarter. Swiss National Bank raised its holdings in shares of Tanger Factory Outlet Centers by 2.6% during the first quarter. Swiss National Bank now owns 165,400 shares of the real estate investment trust’s stock valued at $3,639,000 after buying an additional 4,200 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Tanger Factory Outlet Centers by 4.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,086,237 shares of the real estate investment trust’s stock valued at $23,898,000 after buying an additional 46,213 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Tanger Factory Outlet Centers by 37.5% during the first quarter. Thrivent Financial for Lutherans now owns 71,723 shares of the real estate investment trust’s stock worth $1,578,000 after purchasing an additional 19,566 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in Tanger Factory Outlet Centers by 65.0% during the first quarter. Private Advisor Group LLC now owns 59,356 shares of the real estate investment trust’s stock worth $1,306,000 after purchasing an additional 23,392 shares in the last quarter.

NYSE:SKT traded up $0.39 during mid-day trading on Thursday, reaching $22.78. The stock had a trading volume of 58,087 shares, compared to its average volume of 1,117,986. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.07 and a current ratio of 0.07. Tanger Factory Outlet Centers has a 1-year low of $19.86 and a 1-year high of $26.73. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 2.00 and a beta of 0.53.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 510 different brand name companies.

See Also: Intrinsic Value and Stock Selection

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Earnings History and Estimates for Tanger Factory Outlet Centers (NYSE:SKT)

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