Tanger Factory Outlet Centers Inc. (SKT) Updates FY12 Earnings Guidance
Tanger Factory Outlet Centers Inc. (SKT) issued an update on its FY12 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.61-1.63 for the period.
Shares of Tanger Factory Outlet Centers Inc. (SKT) traded down 0.16% during mid-day trading on Tuesday, hitting $30.97. Tanger Factory Outlet Centers Inc. (SKT) has a one year low of $25.99 and a one year high of $34.09. The company has a market cap of $2.862 billion and a P/E ratio of 62.54.
Tanger Factory Outlet Centers last issued its quarterly earnings data on Tuesday, October 30th. The company reported $0.42 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.42. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts expect that Tanger Factory Outlet Centers Inc. (SKT) will post $1.63 EPS for the current fiscal year.
SKT has been the subject of a number of recent research reports. Analysts at Evercore Partners initiated coverage on shares of Tanger Factory Outlet Centers in a research note to investors on Wednesday, October 24th. They set an equal weight rating on the stock. On a related note, analysts at KeyBanc reiterated an underweight rating on shares of Tanger Factory Outlet Centers in a research note to investors on Thursday, September 20th. Finally, analysts at ISI Group raised their price target on shares of Tanger Factory Outlet Centers to $33.00 in a research note to investors on Wednesday, August 1st. They now have a hold rating on the stock.
Tanger Factory Outlet Centers, Inc. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.