News coverage about Tanger Factory Outlet Centers (NYSE:SKT) has been trending somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies positive and negative news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Tanger Factory Outlet Centers earned a news impact score of 0.13 on Accern’s scale. Accern also assigned headlines about the real estate investment trust an impact score of 46.8088533406667 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the headlines that may have effected Accern Sentiment’s analysis:
- Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Rating Increased to Hold at BidaskClub (americanbankingnews.com)
- Bad future performance Ahead?: Tanger Factory Outlet Centers, Inc. (SKT) - Street Observer (press release) (streetobserver.com)
- Tanger Factory Outlet Centers, Inc. (SKT) Stock to observe with 5.23% Dividend Yield - Voice Of Analysts (analystsbuzz.com)
- Tanger Outlets CEO on why REIT is slowing pace, shortening leases (finance.yahoo.com)
- Tanger Factory Outlet Centers, Inc. (SKT) COO Thomas E. Mcdonough Sells 10,734 Shares (americanbankingnews.com)
A number of analysts recently weighed in on the stock. BidaskClub upgraded shares of Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Jefferies Group LLC cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and decreased their price target for the stock from $38.00 to $29.00 in a research note on Friday, June 16th. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Saturday, July 15th. ValuEngine cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Boenning Scattergood set a $25.00 price target on shares of Tanger Factory Outlet Centers and gave the company a “sell” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.43.
Shares of Tanger Factory Outlet Centers (NYSE:SKT) opened at 26.47 on Friday. Tanger Factory Outlet Centers has a one year low of $24.71 and a one year high of $41.29. The firm has a 50-day moving average of $26.42 and a 200-day moving average of $30.10. The firm has a market capitalization of $2.52 billion, a P/E ratio of 17.58 and a beta of 0.46.
Tanger Factory Outlet Centers (NYSE:SKT) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $119.60 million for the quarter, compared to analyst estimates of $122 million. During the same quarter last year, the firm earned $0.59 EPS. Tanger Factory Outlet Centers’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Tanger Factory Outlet Centers will post $1.02 earnings per share for the current fiscal year.
Tanger Factory Outlet Centers declared that its board has authorized a stock buyback program on Friday, May 19th that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 54% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a $0.3425 dividend. This represents a $1.37 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend is Thursday, July 27th. Tanger Factory Outlet Centers’s dividend payout ratio is presently 90.73%.
In related news, COO Thomas E. Mcdonough sold 10,734 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 180,551 shares in the company, valued at approximately $4,827,933.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chad Perry sold 8,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $27.57, for a total value of $220,560.00. Following the completion of 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. 2.10% of the stock is owned by insiders.
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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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