Tanger Inc. (NYSE:SKT) Shareholders to Receive $0.31 Quarterly Dividend

Tanger Inc. (NYSE:SKT) declared a quarterly dividend on Thursday, October 15th. Investors of record on Friday, October 30th will be given a dividend of $0.3125 per share by the real estate investment trust on Friday, November 13th. This represents a $1.25 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, October 30th.

Tanger has increased its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 4 years. Tanger has a payout ratio of 127.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Tanger to earn $2.62 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 47.7%.

Tanger Stock Performance

SKT stock traded up $0.92 during midday trading on Thursday, reaching $35.25. The stock had a trading volume of 1,336,232 shares, compared to its average volume of 967,385. The firm has a fifty day simple moving average of $36.67 and a two-hundred day simple moving average of $37.50. Tanger has a 52-week low of $31.13 and a 52-week high of $42.53. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.12 and a current ratio of 2.12. The stock has a market cap of $4.05 billion, a PE ratio of 32.04, a P/E/G ratio of 1.70 and a beta of 1.12.

Tanger (NYSE:SKT) last posted its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $156.39 million for the quarter, compared to the consensus estimate of $142.58 million. Tanger had a return on equity of 17.72% and a net margin of 20.74%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. As a group, equities research analysts anticipate that Tanger will post 2.50 EPS for the current year.

About Tanger

Tanger Inc is a real estate investment trust that owns, operates and develops open-air outlet shopping centers. The company leases retail space to a broad range of brand-name and designer retailers, including apparel, footwear, accessories, home goods and other consumer-oriented businesses.

Founded in 1981 by Stanley K. Tanger, the company helped establish the outlet-center format in the United States. Tanger’s properties are designed to serve both local shoppers and tourists, with tenants offering merchandise through outlet and value-oriented retail concepts.

Tanger serves markets across the United States and Canada through a portfolio of outlet centers located near major metropolitan areas, tourist destinations and highway corridors.