Tanger (SKT) to Release Earnings on Wednesday

Tanger (NYSE:SKT) is anticipated to release its earnings data after the market closes on Wednesday, February 19th. Analysts expect Tanger to post earnings of $0.52 per share and revenue of $129.10 million for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Tanger Trading Down 0.8 %

NYSE SKT opened at $34.23 on Tuesday. The business has a 50 day simple moving average of $33.79 and a 200 day simple moving average of $33.09. The stock has a market capitalization of $3.79 billion, a P/E ratio of 39.80, a P/E/G ratio of 2.82 and a beta of 1.91. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. Tanger has a one year low of $25.94 and a one year high of $37.57.

Tanger Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.21%. Tanger’s payout ratio is currently 127.91%.

Analyst Ratings Changes

Several brokerages have issued reports on SKT. The Goldman Sachs Group increased their price target on Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Citigroup increased their price target on Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Evercore ISI increased their price target on Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and increased their price target for the stock from $35.00 to $40.00 in a report on Monday, November 11th. Finally, Compass Point raised their target price on Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.00.

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.