Tanger Factory Outlet Centers, Inc. Forecasted to Earn Q1 2022 Earnings of $0.31 Per Share (NYSE:SKT)


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Tanger Factory Outlet Centers, Inc. (NYSE:SKT) – Equities research analysts at KeyCorp decreased their Q1 2022 earnings per share estimates for shares of Tanger Factory Outlet Centers in a note issued to investors on Tuesday, April 6th. KeyCorp analyst T. Thomas now expects that the real estate investment trust will post earnings of $0.31 per share for the quarter, down from their previous estimate of $0.40. KeyCorp also issued estimates for Tanger Factory Outlet Centers’ Q2 2022 earnings at $0.27 EPS, Q3 2022 earnings at $0.31 EPS and Q4 2022 earnings at $0.35 EPS.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its earnings results on Wednesday, February 17th. The real estate investment trust reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.14). Tanger Factory Outlet Centers had a negative return on equity of 0.82% and a negative net margin of 0.76%.

SKT has been the topic of several other reports. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Saturday, January 16th. Smith Barney Citigroup raised their price target on Tanger Factory Outlet Centers from $6.00 to $10.50 in a research report on Tuesday, December 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on Tanger Factory Outlet Centers from $6.00 to $10.50 in a research report on Tuesday, December 15th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $12.50 price target (up from $11.00) on shares of Tanger Factory Outlet Centers in a research report on Monday, March 15th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Tanger Factory Outlet Centers presently has an average rating of “Hold” and a consensus price target of $9.64.

Tanger Factory Outlet Centers stock opened at $16.00 on Thursday. The company has a debt-to-equity ratio of 4.49, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -399.90 and a beta of 2.10. Tanger Factory Outlet Centers has a one year low of $5.00 and a one year high of $22.40. The company’s fifty day moving average price is $16.11 and its two-hundred day moving average price is $11.29.

A number of institutional investors and hedge funds have recently made changes to their positions in SKT. Point72 Hong Kong Ltd lifted its stake in Tanger Factory Outlet Centers by 193.8% during the third quarter. Point72 Hong Kong Ltd now owns 4,577 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 3,019 shares during the period. Prime Capital Investment Advisors LLC lifted its stake in Tanger Factory Outlet Centers by 45.5% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 3,200 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 1,000 shares during the period. Van ECK Associates Corp lifted its stake in Tanger Factory Outlet Centers by 33.2% during the fourth quarter. Van ECK Associates Corp now owns 3,638 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 907 shares during the period. Planned Solutions Inc. bought a new position in Tanger Factory Outlet Centers during the fourth quarter worth about $48,000. Finally, Penbrook Management LLC bought a new position in Tanger Factory Outlet Centers during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 73.45% of the company’s stock.

In related news, Director Thomas Reddin sold 10,000 shares of Tanger Factory Outlet Centers stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $17.50, for a total transaction of $175,000.00. Also, CMO Carrie A. Warren sold 4,087 shares of Tanger Factory Outlet Centers stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $17.81, for a total value of $72,789.47. Over the last three months, insiders have sold 15,087 shares of company stock worth $265,449. 2.20% of the stock is owned by company insiders.

The company also recently announced a quarterly dividend, which was paid on Friday, February 12th. Investors of record on Friday, January 29th were given a dividend of $0.1775 per share. This represents a $0.71 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Thursday, January 28th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 31.28%.

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.

Further Reading: Buyback

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

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