Press coverage about Tanger Factory Outlet Centers (NYSE:SKT) has trended somewhat positive on Tuesday, Accern Sentiment reports. The research group identifies positive and negative press coverage by analyzing more than twenty million news and blog sources. 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 coverage about the real estate investment trust an impact score of 46.8088533406667 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the media stories that may have effected Accern Sentiment Analysis’s rankings:
- Tanger Factory Outlet Centers, (NYSE:SKT) Trading Volume Significantly Higher - First News 24 (firstnewspaper24.com)
- Tanger Factory Outlet Centers (SKT) Is Attracting Massive Concentrations By Financial Ratio Analysis – Apartment … - Investing News Update (investingbizz.com)
- Tanger Factory Outlet Centers, (NYSE:SKT) Experiences Heavier than Usual Trading Volume - First News 24 (firstnewspaper24.com)
- Tanger Factory Outlet Centers, Inc. (SKT) Stock Rating Upgraded by Zacks Investment Research (americanbankingnews.com)
- ETFs with exposure to Tanger Factory Outlet Centers, Inc. : July 14, 2017 (finance.yahoo.com)
A number of analysts have recently commented on SKT shares. 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 cut 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. BidaskClub raised shares of Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Finally, Bank of America Corporation cut shares of Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $28.00 to $25.50 in a research note on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $35.71.
Shares of Tanger Factory Outlet Centers (SKT) traded up 0.53% during mid-day trading on Tuesday, reaching $26.75. 979,357 shares of the company traded hands. The company has a market capitalization of $2.55 billion, a P/E ratio of 13.65 and a beta of 0.45. The stock’s 50-day moving average is $26.12 and its 200-day moving average is $31.56. Tanger Factory Outlet Centers has a 52 week low of $24.71 and a 52 week high of $42.20.
Tanger Factory Outlet Centers (NYSE:SKT) last announced its earnings results on Monday, May 1st. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by $0.35. The business had revenue of $121.37 million for the quarter, compared to analyst estimates of $122.59 million. Tanger Factory Outlet Centers had a return on equity of 27.05% and a net margin of 39.32%. The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. On average, equities analysts predict that Tanger Factory Outlet Centers will post $1.01 EPS for the current fiscal year.
Tanger Factory Outlet Centers announced that its Board of Directors has approved a share repurchase program on Friday, May 19th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the real estate investment trust to purchase up to 54% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.3425 per share. The ex-dividend date is Thursday, July 27th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.15%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 69.90%.
In other news, Director Allan L. Schuman sold 32,930 shares of Tanger Factory Outlet Centers stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $28.52, for a total transaction of $939,163.60. Following the completion of the sale, the director now directly owns 43,953 shares in the company, valued at $1,253,539.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Chad Perry sold 8,000 shares of Tanger Factory Outlet Centers stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $27.57, for a total transaction of $220,560.00. Following the sale, the executive vice president now owns 78,112 shares of the company’s stock, valued at $2,153,547.84. The disclosure for this sale can be found here. 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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