Analysts expect that Tanger Factory Outlet Centers, Inc. (NYSE:SKT) will post earnings of $0.58 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Tanger Factory Outlet Centers’ earnings, with the lowest EPS estimate coming in at $0.57 and the highest estimate coming in at $0.59. Tanger Factory Outlet Centers reported earnings of $0.59 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.7%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, August 1st.

On average, analysts expect that Tanger Factory Outlet Centers will report full-year earnings of $2.41 per share for the current financial year, with EPS estimates ranging from $2.38 to $2.42. For the next fiscal year, analysts expect that the company will post earnings of $2.55 per share, with EPS estimates ranging from $2.50 to $2.60. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Tanger Factory Outlet Centers.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.35. The firm had revenue of $121.37 million for the quarter, compared to analysts’ expectations of $122.59 million. Tanger Factory Outlet Centers had a net margin of 39.32% and a return on equity of 27.05%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 earnings per share.

Several equities analysts have weighed in on the company. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Saturday, July 15th. BidaskClub upgraded Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Citigroup Inc. upgraded Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating in a research note on Monday, June 12th. ValuEngine cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and decreased their price objective for the company from $38.00 to $29.00 in a research note on Friday, June 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $35.71.

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Tanger Factory Outlet Centers (NYSE SKT) traded up 0.11% during mid-day trading on Friday, hitting $27.12. 1,491,296 shares of the company’s stock traded hands. Tanger Factory Outlet Centers has a one year low of $24.71 and a one year high of $42.20. The stock has a market cap of $2.58 billion, a PE ratio of 13.84 and a beta of 0.45. The firm’s 50-day moving average price is $26.18 and its 200-day moving average price is $30.67.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a $0.3425 dividend. This represents a $1.37 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Thursday, July 27th. Tanger Factory Outlet Centers’s payout ratio is presently 69.90%.

Tanger Factory Outlet Centers declared that its Board of Directors has initiated a stock repurchase plan on Friday, May 19th that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy up to 54% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

In related news, EVP Chad Perry sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $27.57, for a total transaction of $220,560.00. Following the completion of the sale, the executive vice president now owns 78,112 shares in the company, valued at $2,153,547.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Allan L. Schuman sold 32,930 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $28.52, for a total value of $939,163.60. Following the sale, the director now owns 43,953 shares of the company’s stock, valued at approximately $1,253,539.56. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the company. Forsta AP Fonden boosted its stake in Tanger Factory Outlet Centers by 196.9% in the second quarter. Forsta AP Fonden now owns 38,300 shares of the real estate investment trust’s stock valued at $995,000 after buying an additional 25,400 shares during the last quarter. Malaga Cove Capital LLC acquired a new stake in Tanger Factory Outlet Centers during the second quarter valued at $1,235,000. State Treasurer State of Michigan boosted its stake in Tanger Factory Outlet Centers by 1.8% in the second quarter. State Treasurer State of Michigan now owns 39,800 shares of the real estate investment trust’s stock valued at $1,034,000 after buying an additional 700 shares during the last quarter. Aperio Group LLC boosted its stake in Tanger Factory Outlet Centers by 106.7% in the second quarter. Aperio Group LLC now owns 25,696 shares of the real estate investment trust’s stock valued at $668,000 after buying an additional 13,267 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Tanger Factory Outlet Centers by 3.7% in the second quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the real estate investment trust’s stock valued at $655,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company 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.

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

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