Somewhat Favorable News Coverage Somewhat Unlikely to Impact Tanger Factory Outlet Centers (SKT) Share Price
News coverage about Tanger Factory Outlet Centers (NYSE:SKT) has trended somewhat positive on Saturday, Accern reports. Accern scores the sentiment of press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Tanger Factory Outlet Centers earned a news sentiment score of 0.13 on Accern’s scale. Accern also gave news headlines about the real estate investment trust an impact score of 46.384602367559 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the news headlines that may have impacted Accern Sentiment’s rankings:
- Tanger Factory Outlet Centers, (NYSE:SKT) Experiences Heavier than Usual Trading Volume (highlightpress.com)
- Kimberly-Clark Corporation (KMB) registers a price change of 0.08% while Tanger Factory Outlet Centers, Inc. (SKT … – Stocks Gallery (stocksgallery.com)
- Volume Moving the Tape For Tanger Factory Outlet Centers Inc (SKT) – Sparta Review (spartareview.com)
- Traders Alert on Tanger Factory Outlet Centers, Inc. (SKT) – Morning Times (wallstreetmorning.com)
- Stock Monitor: Looking at the Levels on Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) – Sparta Review (spartareview.com)
Several research analysts have commented on SKT shares. BidaskClub raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Citigroup Inc. raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating in a research note on Monday, June 12th. ValuEngine downgraded shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Saturday, July 15th. Finally, Bank of America Corporation downgraded shares of Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $28.00 to $25.50 in a research note on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $32.43.
Shares of Tanger Factory Outlet Centers (NYSE SKT) traded down 3.29% on Friday, hitting $24.98. 3,056,216 shares of the company traded hands. The firm’s 50 day moving average price is $26.42 and its 200-day moving average price is $29.69. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 16.59 and a beta of 0.46. Tanger Factory Outlet Centers has a 1-year low of $24.71 and a 1-year high of $41.19.
Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Tanger Factory Outlet Centers had a return on equity of 20.75% and a net margin of 29.65%. The company had revenue of $119.60 million for the quarter, compared to analyst estimates of $122 million. During the same quarter in the prior year, the firm posted $0.59 EPS. Tanger Factory Outlet Centers’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that Tanger Factory Outlet Centers will post $1.02 earnings per share for the current year.
Tanger Factory Outlet Centers announced that its board has authorized a share repurchase program on Friday, May 19th that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 54% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a dividend of $0.3425 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.37 annualized dividend and a yield of 5.48%. Tanger Factory Outlet Centers’s payout ratio is presently 90.73%.
In other Tanger Factory Outlet Centers news, COO Thomas E. Mcdonough sold 10,734 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $26.74, for a total value of $287,027.16. Following the sale, the chief operating officer now owns 180,551 shares in the company, valued at $4,827,933.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.
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About Tanger Factory Outlet Centers
Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.
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