Tanger Factory Outlet Centers (SKT) Earns Daily Media Impact Rating of 0.13
Media headlines about Tanger Factory Outlet Centers (NYSE:SKT) have been trending somewhat positive recently, according to Accern Sentiment. The research firm identifies negative and positive media coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Tanger Factory Outlet Centers earned a news sentiment score of 0.13 on Accern’s scale. Accern also gave media stories about the real estate investment trust an impact score of 46.384602367559 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the media stories that may have effected Accern Sentiment Analysis’s analysis:
- Tanger Factory Outlet Centers, (NYSE:SKT) Experiences Heavier than Usual Trading Volume (highlightpress.com)
- Kimberly-Clark Corporation (KMB) registers a price change of 0.08% while Tanger Factory Outlet Centers, Inc. (SKT … – Stocks Gallery (stocksgallery.com)
- Volume Moving the Tape For Tanger Factory Outlet Centers Inc (SKT) – Sparta Review (spartareview.com)
- Traders Alert on Tanger Factory Outlet Centers, Inc. (SKT) – Morning Times (wallstreetmorning.com)
- Stock Monitor: Looking at the Levels on Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) – Sparta Review (spartareview.com)
Shares of Tanger Factory Outlet Centers (NYSE SKT) traded down 3.29% during midday trading on Friday, reaching $24.98. The company’s stock had a trading volume of 3,056,216 shares. The stock’s 50-day moving average price is $26.42 and its 200-day moving average price is $29.69. The company has a market cap of $2.37 billion, a P/E ratio of 16.59 and a beta of 0.46. Tanger Factory Outlet Centers has a 12-month low of $24.71 and a 12-month high of $41.19.
Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The business had revenue of $119.60 million during the quarter, compared to analysts’ expectations of $122 million. Tanger Factory Outlet Centers had a return on equity of 20.75% and a net margin of 29.65%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. On average, analysts expect that Tanger Factory Outlet Centers will post $1.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a dividend of $0.3425 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.37 annualized dividend and a dividend yield of 5.48%. Tanger Factory Outlet Centers’s dividend payout ratio is currently 90.73%.
Tanger Factory Outlet Centers declared that its board has initiated a stock buyback program on Friday, May 19th that allows the company to buyback $125.00 million in shares. This buyback authorization allows the real estate investment trust to purchase up to 54% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
A number of brokerages recently weighed in on SKT. Jefferies Group LLC downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and dropped their price objective for the company from $38.00 to $29.00 in a research report on Friday, June 16th. Boenning Scattergood set a $25.00 price objective on Tanger Factory Outlet Centers and gave the company a “sell” rating in a research report on Thursday, August 3rd. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, May 17th. Bank of America Corporation downgraded Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $28.00 to $25.50 in a research report on Friday, June 23rd. Finally, BidaskClub raised Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.43.
In other news, COO Thomas E. Mcdonough sold 10,734 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $26.74, for a total transaction of $287,027.16. Following the completion of the transaction, the chief operating officer now directly owns 180,551 shares of the company’s stock, valued at approximately $4,827,933.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.10% 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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