Tanger (SKT) Expected to Announce Quarterly Earnings on Wednesday

Tanger (NYSE:SKT) will likely be issuing its quarterly earnings data after the market closes on Wednesday, February 19th. Analysts expect the company to announce earnings of $0.52 per share and revenue of $129.10 million for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Tanger Trading Up 0.3 %

SKT opened at $33.23 on Wednesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. Tanger has a fifty-two week low of $25.94 and a fifty-two week high of $37.57. The company’s 50 day moving average price is $33.97 and its two-hundred day moving average price is $32.94. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 38.63, a PEG ratio of 2.82 and a beta of 1.91.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.31%. Tanger’s dividend payout ratio (DPR) is presently 127.91%.

Analyst Ratings Changes

Several brokerages recently issued reports on SKT. Deutsche Bank Aktiengesellschaft began coverage on Tanger in a research report on Tuesday, December 17th. They set a “hold” rating and a $37.00 target price for the company. Compass Point raised their price objective on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Citigroup lifted their price objective on Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. BMO Capital Markets began coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 target price for the company. Finally, The Goldman Sachs Group boosted their price target on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.00.

Insider Transactions at Tanger

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total transaction of $108,810.00. Following the transaction, the chief accounting officer now owns 59,641 shares of the company’s stock, valued at $2,163,179.07. This represents a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.80% of the company’s stock.

About Tanger

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.