Tanger Factory Outlet Centers (SKT) Releases FY18 Earnings Guidance
Tanger Factory Outlet Centers (NYSE:SKT) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.43-2.49 for the period, compared to the Thomson Reuters consensus estimate of $2.51.
Tanger Factory Outlet Centers (SKT) opened at $21.81 on Thursday. Tanger Factory Outlet Centers has a twelve month low of $21.14 and a twelve month high of $34.76. The stock has a market capitalization of $2,218.58, a PE ratio of 31.16, a P/E/G ratio of 3.00 and a beta of 0.44. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.91.
Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Tanger Factory Outlet Centers had a return on equity of 10.27% and a net margin of 13.80%. The company had revenue of $126.49 million for the quarter, compared to the consensus estimate of $122.67 million. equities analysts forecast that Tanger Factory Outlet Centers will post 2.51 earnings per share for the current year.
A number of research analysts recently issued reports on SKT shares. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a sell rating to a hold rating in a report on Wednesday, October 18th. Boenning Scattergood raised Tanger Factory Outlet Centers from an under perform rating to a neutral rating in a research report on Friday, November 3rd. Bank of America raised Tanger Factory Outlet Centers from an underperform rating to a neutral rating in a research report on Thursday, November 9th. Citigroup cut their price objective on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a sell rating on the stock in a research report on Friday, November 10th. Finally, Jefferies Group reaffirmed a hold rating and set a $24.00 price objective on shares of Tanger Factory Outlet Centers in a research report on Friday, December 22nd. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $26.60.
In other Tanger Factory Outlet Centers news, CMO Carrie A. Geldner sold 2,250 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total transaction of $55,125.00. Following the sale, the chief marketing officer now directly owns 51,261 shares of the company’s stock, valued at approximately $1,255,894.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.80% of the company’s stock.
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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