Tanger (NYSE:SKT) Releases FY 2024 Earnings Guidance

Tanger (NYSE:SKT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.090-2.130 for the period, compared to the consensus estimate of 2.090. The company issued revenue guidance of -. Tanger also updated its FY24 guidance to $2.09-$2.13 EPS.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Compass Point boosted their target price on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Scotiabank boosted their target price on shares of Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Bank of America boosted their target price on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Finally, Evercore ISI boosted their target price on shares of Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Tanger has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Tanger Stock Up 0.2 %

Shares of NYSE:SKT traded up $0.08 during midday trading on Friday, reaching $35.53. The company had a trading volume of 1,439,429 shares, compared to its average volume of 737,180. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s fifty day moving average price is $32.89 and its 200-day moving average price is $29.54. The stock has a market capitalization of $3.89 billion, a P/E ratio of 41.34, a PEG ratio of 2.87 and a beta of 1.88. Tanger has a one year low of $23.82 and a one year high of $35.85.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.10 annualized dividend and a yield of 3.10%. Tanger’s payout ratio is 127.91%.

Tanger Company Profile

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.