Tanger Inc. (NYSE:SKT – Get Free Report) declared a quarterly dividend on Monday, April 13th. Stockholders of record on Thursday, April 30th will be paid a dividend of 0.3125 per share by the real estate investment trust on Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, April 30th. This is a 6.8% increase from Tanger’s previous quarterly dividend of $0.29.
Tanger has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Tanger has a dividend payout ratio of 119.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Tanger to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 50.0%.
Tanger Trading Down 0.2%
NYSE:SKT traded down $0.06 during mid-day trading on Monday, reaching $36.41. 749,689 shares of the company’s stock traded hands, compared to its average volume of 1,007,929. Tanger has a 12-month low of $28.69 and a 12-month high of $37.95. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 1.75 and a beta of 1.20. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.40 and a quick ratio of 0.40. The company has a 50 day moving average price of $34.96 and a 200-day moving average price of $33.92.
About Tanger
Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company’s portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger’s centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.
Founded in 1981 by Stanley K.
Featured Articles
Receive News & Ratings for Tanger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger and related companies with MarketBeat.com's FREE daily email newsletter.
