Q4 2017 Earnings Estimate for Tanger Factory Outlet Centers, Inc. Issued By Boenning Scattergood (SKT)

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) – Equities research analysts at Boenning Scattergood reduced their Q4 2017 earnings per share (EPS) estimates for Tanger Factory Outlet Centers in a report issued on Thursday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will post earnings per share of $0.61 for the quarter, down from their previous forecast of $0.63. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Tanger Factory Outlet Centers’ Q1 2018 earnings at $0.60 EPS, Q4 2018 earnings at $0.66 EPS and FY2018 earnings at $2.50 EPS.

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A number of other brokerages also recently commented on SKT. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. BidaskClub raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. KeyCorp reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Friday, August 25th. Bank of America Corporation raised Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research note on Thursday. Finally, Jefferies Group LLC reissued a “hold” rating and set a $26.00 target price on shares of Tanger Factory Outlet Centers in a research note on Thursday, September 21st. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $27.00.

Tanger Factory Outlet Centers (NYSE SKT) opened at $24.27 on Friday. The firm has a market capitalization of $2,245.04, a PE ratio of 11.59, a PEG ratio of 2.76 and a beta of 0.47. Tanger Factory Outlet Centers has a 1-year low of $21.81 and a 1-year high of $37.34. The company has a quick ratio of 0.12, a current ratio of 0.10 and a debt-to-equity ratio of 2.91.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.3425 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.37 annualized dividend and a yield of 5.64%. Tanger Factory Outlet Centers’s payout ratio is 220.97%.

In related news, SVP Carrie A. Geldner sold 1,800 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $24.18, for a total transaction of $43,524.00. Following the completion of the transaction, the senior vice president now directly owns 53,511 shares of the company’s stock, valued at approximately $1,293,895.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Advisor Group Inc. grew its stake in shares of Tanger Factory Outlet Centers by 6.5% during the second quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 303 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Tanger Factory Outlet Centers by 3.5% in the first quarter. PNC Financial Services Group Inc. now owns 10,105 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 344 shares in the last quarter. BB&T Securities LLC grew its stake in Tanger Factory Outlet Centers by 6.2% in the second quarter. BB&T Securities LLC now owns 8,575 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 501 shares in the last quarter. Utah Retirement Systems grew its stake in Tanger Factory Outlet Centers by 2.8% in the second quarter. Utah Retirement Systems now owns 21,773 shares of the real estate investment trust’s stock worth $566,000 after purchasing an additional 588 shares in the last quarter. Finally, State Treasurer State of Michigan grew its stake in Tanger Factory Outlet Centers by 1.8% in the second quarter. State Treasurer State of Michigan now owns 39,800 shares of the real estate investment trust’s stock worth $1,034,000 after purchasing an additional 700 shares in the last quarter. 96.91% of the stock is owned by institutional investors and hedge funds.

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.

Earnings History and Estimates for Tanger Factory Outlet Centers (NYSE:SKT)

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