Tanger (SKT) to Release Earnings on Thursday

Tanger (NYSE:SKTGet Free Report) will announce its earnings results after the market closes on Thursday, February 15th. Analysts expect the company to announce earnings of $0.49 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Tanger Trading Up 0.8 %

NYSE SKT opened at $27.18 on Tuesday. The company’s 50-day simple moving average is $27.29 and its two-hundred day simple moving average is $24.92. The company has a debt-to-equity ratio of 2.78, a quick ratio of 2.04 and a current ratio of 2.04. Tanger has a one year low of $17.22 and a one year high of $28.77. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 3.41 and a beta of 1.83.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Tuesday, January 30th. Tanger’s payout ratio is currently 119.54%.

Insider Buying and Selling

In related news, insider Steven B. Tanger sold 64,212 shares of Tanger stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $25.50, for a total value of $1,637,406.00. Following the completion of the sale, the insider now directly owns 1,062,771 shares in the company, valued at approximately $27,100,660.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tanger news, insider Steven B. Tanger sold 75,000 shares of Tanger stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $25.01, for a total transaction of $1,875,750.00. Following the completion of the sale, the insider now directly owns 1,126,983 shares in the company, valued at approximately $28,185,844.83. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven B. Tanger sold 64,212 shares of Tanger stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $25.50, for a total transaction of $1,637,406.00. Following the sale, the insider now owns 1,062,771 shares of the company’s stock, valued at $27,100,660.50. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Institutional Trading of Tanger

Several institutional investors and hedge funds have recently bought and sold shares of SKT. FMR LLC lifted its stake in Tanger by 16,418.2% during the 1st quarter. FMR LLC now owns 2,249,283 shares of the real estate investment trust’s stock valued at $44,153,000 after acquiring an additional 2,235,666 shares during the period. Norges Bank acquired a new position in shares of Tanger in the 4th quarter valued at $16,663,000. State Street Corp lifted its stake in shares of Tanger by 12.6% in the 1st quarter. State Street Corp now owns 6,252,459 shares of the real estate investment trust’s stock valued at $107,480,000 after purchasing an additional 700,755 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Tanger by 40.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,329,080 shares of the real estate investment trust’s stock valued at $45,720,000 after purchasing an additional 667,077 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Tanger by 1,124.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 446,890 shares of the real estate investment trust’s stock valued at $9,863,000 after purchasing an additional 490,495 shares during the period. 84.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Tanger from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $27.00 to $29.00 in a research report on Monday, December 18th. Compass Point downgraded shares of Tanger from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Tanger has an average rating of “Hold” and an average target price of $24.67.

Read Our Latest Stock Report on Tanger

Tanger Company Profile

(Get Free Report)

Tanger Factory Outlet Centers, Inc (NYSE: SKT), a leading operator of upscale open-air outlet centers, fully or partially owns and/or manages a portfolio of 37 centers, including the newly opened Tanger Outlets Nashville. Tanger's operating centers, which comprise over 14 million square feet, are located in 20 states and in Canada and are leased to over 2,900 stores operated by more than 700 different brand name companies.

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Earnings History for Tanger (NYSE:SKT)

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