$0.60 Earnings Per Share Expected for Tanger Factory Outlet Centers Inc. (SKT) This Quarter

Brokerages expect Tanger Factory Outlet Centers Inc. (NYSE:SKT) to post earnings of $0.60 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Tanger Factory Outlet Centers’ earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.62. Tanger Factory Outlet Centers posted earnings per share of $0.59 during the same quarter last year, which suggests a positive year-over-year growth rate of 1.7%. The business is scheduled to report its next quarterly earnings report after the market closes on Tuesday, July 31st.

According to Zacks, analysts expect that Tanger Factory Outlet Centers will report full year earnings of $2.43 per share for the current year, with EPS estimates ranging from $2.40 to $2.45. For the next year, analysts forecast that the company will report earnings of $2.48 per share, with EPS estimates ranging from $2.39 to $2.55. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Tanger Factory Outlet Centers.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.34). Tanger Factory Outlet Centers had a return on equity of 10.97% and a net margin of 13.85%. The company had revenue of $123.50 million for the quarter, compared to analyst estimates of $120.93 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. Tanger Factory Outlet Centers’s revenue for the quarter was up 1.8% compared to the same quarter last year.

Several brokerages have issued reports on SKT. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, May 3rd. ValuEngine cut shares of Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Finally, KeyCorp cut shares of Tanger Factory Outlet Centers from a “sector weight” rating to an “underweight” rating and set a $19.00 price target for the company. in a research report on Wednesday, May 2nd. Five research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company has an average rating of “Sell” and a consensus target price of $23.25.

In other news, SVP Charles Allen Worsham sold 4,400 shares of the company’s stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $21.12, for a total value of $92,928.00. Following the sale, the senior vice president now directly owns 36,043 shares of the company’s stock, valued at approximately $761,228.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Carrie A. Warren sold 2,357 shares of the company’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $20.80, for a total transaction of $49,025.60. Following the completion of the sale, the senior vice president now directly owns 55,501 shares in the company, valued at $1,154,420.80. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Several large investors have recently bought and sold shares of SKT. US Bancorp DE boosted its stake in shares of Tanger Factory Outlet Centers by 25.2% in the 4th quarter. US Bancorp DE now owns 19,385 shares of the real estate investment trust’s stock valued at $514,000 after purchasing an additional 3,906 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Tanger Factory Outlet Centers by 2.4% in the 4th quarter. California Public Employees Retirement System now owns 224,911 shares of the real estate investment trust’s stock valued at $5,962,000 after purchasing an additional 5,363 shares during the last quarter. New Mexico Educational Retirement Board boosted its stake in shares of Tanger Factory Outlet Centers by 75.6% in the 4th quarter. New Mexico Educational Retirement Board now owns 23,500 shares of the real estate investment trust’s stock valued at $623,000 after purchasing an additional 10,118 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Tanger Factory Outlet Centers by 36.4% in the 4th quarter. Sei Investments Co. now owns 260,380 shares of the real estate investment trust’s stock valued at $6,903,000 after purchasing an additional 69,484 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Tanger Factory Outlet Centers by 12.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 158,154 shares of the real estate investment trust’s stock valued at $4,193,000 after purchasing an additional 17,284 shares during the last quarter.

NYSE SKT traded down $0.54 on Monday, hitting $23.49. The company’s stock had a trading volume of 1,207,967 shares, compared to its average volume of 1,660,732. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.05 and a current ratio of 0.05. Tanger Factory Outlet Centers has a 1-year low of $19.86 and a 1-year high of $27.88. The stock has a market cap of $2.27 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 1.91 and a beta of 0.52.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc (NYSE: SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 500 different brand name companies.

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

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