Tanger Factory Outlet Centers, Inc. (NYSE:SKT) – Stock analysts at KeyCorp decreased their FY2021 earnings per share (EPS) estimates for shares of Tanger Factory Outlet Centers in a note issued to investors on Sunday, June 20th. KeyCorp analyst T. Thomas now forecasts that the real estate investment trust will earn $1.36 per share for the year, down from their previous forecast of $1.50. KeyCorp also issued estimates for Tanger Factory Outlet Centers’ FY2022 earnings at $1.49 EPS.
Tanger Factory Outlet Centers (NYSE:SKT) last announced its earnings results on Wednesday, May 5th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.32). Tanger Factory Outlet Centers had a return on equity of 10.59% and a net margin of 10.63%.
Shares of SKT stock opened at $18.86 on Tuesday. The company has a market cap of $1.90 billion, a P/E ratio of 43.86, a price-to-earnings-growth ratio of 12.80 and a beta of 2.03. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 3.19. The business’s 50-day moving average is $17.64. Tanger Factory Outlet Centers has a 52 week low of $5.46 and a 52 week high of $22.40.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 14th. Shareholders of record on Friday, April 30th were issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Thursday, April 29th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 44.94%.
A number of hedge funds and other institutional investors have recently bought and sold shares of SKT. Citigroup Inc. boosted its holdings in Tanger Factory Outlet Centers by 112.3% in the 1st quarter. Citigroup Inc. now owns 165,308 shares of the real estate investment trust’s stock valued at $2,501,000 after purchasing an additional 1,513,561 shares during the period. Capital Growth Management LP bought a new stake in Tanger Factory Outlet Centers in the 1st quarter valued at about $22,544,000. Ameriprise Financial Inc. boosted its holdings in Tanger Factory Outlet Centers by 107.2% in the 1st quarter. Ameriprise Financial Inc. now owns 2,443,436 shares of the real estate investment trust’s stock valued at $36,969,000 after purchasing an additional 1,264,046 shares during the period. Nuveen Asset Management LLC raised its position in shares of Tanger Factory Outlet Centers by 244.9% in the 1st quarter. Nuveen Asset Management LLC now owns 1,721,765 shares of the real estate investment trust’s stock valued at $26,051,000 after buying an additional 1,222,493 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Tanger Factory Outlet Centers in the 4th quarter valued at approximately $11,752,000. 77.32% of the stock is owned by hedge funds and other institutional investors.
About Tanger Factory Outlet Centers
Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies.
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