Tanger Factory Outlet Centers Inc. (NYSE:SKT) – Equities research analysts at KeyCorp lowered their FY2018 earnings estimates for shares of Tanger Factory Outlet Centers in a report issued on Thursday. KeyCorp analyst T. Thomas now anticipates that the real estate investment trust will earn $2.46 per share for the year, down from their previous estimate of $2.54. KeyCorp also issued estimates for Tanger Factory Outlet Centers’ FY2019 earnings at $2.53 EPS.
Tanger Factory Outlet Centers (NYSE:SKT) last announced its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.05. Tanger Factory Outlet Centers had a net margin of 13.80% and a return on equity of 10.45%. The business had revenue of $126.49 million for the quarter, compared to analyst estimates of $122.67 million.
Shares of Tanger Factory Outlet Centers (SKT) traded down $0.09 during midday trading on Monday, hitting $21.67. 110,527 shares of the stock traded hands, compared to its average volume of 1,685,748. Tanger Factory Outlet Centers has a 1-year low of $21.14 and a 1-year high of $33.68. The firm has a market capitalization of $2,029.73, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 1.66 and a beta of 0.53. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 2.88.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were issued a $0.343 dividend. This represents a $1.37 annualized dividend and a yield of 6.33%. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, January 30th. Tanger Factory Outlet Centers’s payout ratio is presently 195.71%.
In other Tanger Factory Outlet Centers news, COO Thomas E. Mcdonough sold 11,276 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $22.55, for a total value of $254,273.80. Following the transaction, the chief operating officer now directly owns 159,088 shares in the company, valued at approximately $3,587,434.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Virginia R. Summerell sold 5,800 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $22.90, for a total transaction of $132,820.00. Following the completion of the transaction, the vice president now owns 32,025 shares in the company, valued at $733,372.50. The disclosure for this sale can be found here. Insiders sold a total of 17,515 shares of company stock worth $396,945 over the last quarter. 4.80% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Stephens Inc. AR acquired a new position in Tanger Factory Outlet Centers in the 3rd quarter valued at about $309,000. Macquarie Group Ltd. boosted its holdings in Tanger Factory Outlet Centers by 16.7% in the 3rd quarter. Macquarie Group Ltd. now owns 43,150 shares of the real estate investment trust’s stock valued at $1,053,000 after purchasing an additional 6,167 shares during the last quarter. Eii Capital Management Inc. acquired a new position in Tanger Factory Outlet Centers in the 3rd quarter valued at about $605,000. Westpac Banking Corp boosted its holdings in Tanger Factory Outlet Centers by 61.4% in the 4th quarter. Westpac Banking Corp now owns 159,316 shares of the real estate investment trust’s stock valued at $4,223,000 after purchasing an additional 60,630 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Tanger Factory Outlet Centers by 3.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,419,021 shares of the real estate investment trust’s stock valued at $34,654,000 after purchasing an additional 42,345 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Tanger Factory Outlet Centers Inc. (SKT) Expected to Post FY2018 Earnings of $2.46 Per Share” was posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://www.tickerreport.com/banking-finance/3259354/tanger-factory-outlet-centers-inc-skt-expected-to-post-fy2018-earnings-of-2-46-per-share.html.
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.
Receive News & Ratings for Tanger Factory Outlet Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger Factory Outlet Centers and related companies with MarketBeat.com's FREE daily email newsletter.