News articles about Tanger Factory Outlet Centers (NYSE:SKT) have trended somewhat positive this week, Accern reports. The research firm scores the sentiment of press coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of public 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 impact score of 0.10 on Accern’s scale. Accern also gave news articles about the real estate investment trust an impact score of 46.3480369030302 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the news articles that may have effected Accern Sentiment’s scoring:
- Tanger Factory Outlet Centers, Inc. (SKT) Cut to “Sell” at BidaskClub (americanbankingnews.com)
- Tanger Factory Outlet Centers, Inc. (SKT) to Post FY2017 Earnings of $2.40 Per Share, Jefferies Group Forecasts (americanbankingnews.com)
- Even At $24.48, Not A Fan Of Tanger Factory Outlets (seekingalpha.com)
- Technical Snapshots for These REIT Stocks — Tanger Factory Outlet Centers, Simon Property, Realty Income, and SL Green Realty (markets.businessinsider.com)
- Tanger Factory Outlet Centers, Inc. (SKT) Forecasted to Post Q1 2018 Earnings of $0.61 Per Share (americanbankingnews.com)
Tanger Factory Outlet Centers (NYSE SKT) opened at 24.06 on Friday. Tanger Factory Outlet Centers has a 12 month low of $23.67 and a 12 month high of $41.25. The company has a market capitalization of $2.29 billion, a PE ratio of 15.98 and a beta of 0.46. The company has a 50-day moving average price of $26.18 and a 200 day moving average price of $29.35.
Tanger Factory Outlet Centers (NYSE:SKT) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $119.60 million for the quarter, compared to analyst estimates of $122 million. During the same period in the prior year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that Tanger Factory Outlet Centers will post $0.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a dividend yield of 5.69%. The ex-dividend date was Thursday, July 27th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 90.73%.
Tanger Factory Outlet Centers announced that its board has approved a stock repurchase program on Friday, May 19th that allows the company to buyback $125.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 54% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts recently weighed in on SKT shares. Zacks Investment Research lowered shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, May 17th. ValuEngine lowered shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Citigroup Inc. raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating in a research report on Monday, June 12th. Jefferies Group LLC downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and lowered their price target for the company from $38.00 to $29.00 in a report on Friday, June 16th. Finally, Bank of America Corporation downgraded Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $28.00 to $25.50 in a report on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $32.43.
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In other news, COO Thomas E. Mcdonough sold 10,734 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 180,551 shares in the company, valued at $4,827,933.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.
Tanger Factory Outlet Centers Company Profile
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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