Wall Street brokerages predict that Tanger Factory Outlet Centers, Inc. (NYSE:SKT) will report earnings per share (EPS) of $0.63 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Tanger Factory Outlet Centers’ earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.64. Tanger Factory Outlet Centers posted earnings of $0.25 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 152%. The company is scheduled to report its next earnings report on Tuesday, February 13th.

On average, analysts expect that Tanger Factory Outlet Centers will report full year earnings of $2.07 per share for the current fiscal year, with EPS estimates ranging from $2.05 to $2.08. For the next financial year, analysts anticipate that the business will post earnings of $2.51 per share, with EPS estimates ranging from $2.46 to $2.55. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Tanger Factory Outlet Centers.

A number of analysts have weighed in on the company. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. BidaskClub downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Jefferies Group restated a “hold” rating and issued a $26.00 target price on shares of Tanger Factory Outlet Centers in a research note on Thursday, September 21st. Citigroup reduced their target price on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research note on Friday, November 10th. Finally, KeyCorp restated a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $27.00.

In other news, CMO Carrie A. Geldner sold 2,250 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total value of $55,125.00. Following the completion of the sale, the chief marketing officer now directly owns 51,261 shares in the company, valued at approximately $1,255,894.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SKT. Capstone Asset Management Co. lifted its position in Tanger Factory Outlet Centers by 8.4% in the 2nd quarter. Capstone Asset Management Co. now owns 10,446 shares of the real estate investment trust’s stock valued at $271,000 after acquiring an additional 810 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Tanger Factory Outlet Centers by 4.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 35,264 shares of the real estate investment trust’s stock worth $916,000 after buying an additional 1,518 shares in the last quarter. LS Investment Advisors LLC lifted its position in shares of Tanger Factory Outlet Centers by 19.9% during the 2nd quarter. LS Investment Advisors LLC now owns 7,629 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 1,266 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Tanger Factory Outlet Centers by 3.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the real estate investment trust’s stock worth $655,000 after buying an additional 900 shares in the last quarter. Finally, Aperio Group LLC lifted its position in shares of Tanger Factory Outlet Centers by 106.7% during the 2nd quarter. Aperio Group LLC now owns 25,696 shares of the real estate investment trust’s stock worth $668,000 after buying an additional 13,267 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Tanger Factory Outlet Centers (NYSE SKT) traded up $0.33 during midday trading on Friday, reaching $25.17. The company’s stock had a trading volume of 1,674,300 shares, compared to its average volume of 1,571,429. Tanger Factory Outlet Centers has a 12-month low of $21.81 and a 12-month high of $37.34. The company has a market capitalization of $2,348.08, a PE ratio of 12.12, a PEG ratio of 3.37 and a beta of 0.52. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.91.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were paid a $0.3425 dividend. The ex-dividend date was Monday, October 30th. This represents a $1.37 annualized dividend and a dividend yield of 5.44%. Tanger Factory Outlet Centers’s dividend payout ratio is presently 220.97%.

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About Tanger Factory Outlet Centers

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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