FY2018 Earnings Forecast for Tanger Factory Outlet Centers, Inc. Issued By Jefferies Group (SKT)

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) – Analysts at Jefferies Group reduced their FY2018 earnings per share estimates for Tanger Factory Outlet Centers in a report released on Monday. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will post earnings per share of $2.46 for the year, down from their previous estimate of $2.49. Jefferies Group has a “Hold” rating and a $26.00 price objective on the stock.

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Other equities analysts also recently issued research reports about the company. BidaskClub upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Tuesday. Boenning Scattergood set a $25.00 target price on Tanger Factory Outlet Centers and gave the company a “sell” rating in a report on Thursday, August 3rd. Bank of America Corporation upgraded Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a report on Thursday, November 9th. Finally, KeyCorp reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Tanger Factory Outlet Centers presently has a consensus rating of “Hold” and an average price target of $27.00.

Shares of Tanger Factory Outlet Centers (NYSE SKT) traded down $0.24 during trading on Tuesday, hitting $24.25. The company had a trading volume of 421,358 shares, compared to its average volume of 1,585,165. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $2,310.00, a P/E ratio of 11.84, a PEG ratio of 3.30 and a beta of 0.47. Tanger Factory Outlet Centers has a one year low of $21.81 and a one year high of $37.34.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a $0.3425 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.37 dividend on an annualized basis and a yield of 5.65%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is 220.97%.

In other Tanger Factory Outlet Centers news, SVP Carrie A. Geldner sold 1,800 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $24.18, for a total value of $43,524.00. Following the completion of the transaction, the senior vice president now owns 53,511 shares in the company, valued at $1,293,895.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in shares of Tanger Factory Outlet Centers by 199.1% during the second quarter. Principal Financial Group Inc. now owns 3,947,025 shares of the real estate investment trust’s stock valued at $102,543,000 after acquiring an additional 2,627,566 shares in the last quarter. State Street Corp increased its holdings in shares of Tanger Factory Outlet Centers by 11.2% during the second quarter. State Street Corp now owns 11,298,397 shares of the real estate investment trust’s stock valued at $293,533,000 after acquiring an additional 1,140,291 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Tanger Factory Outlet Centers by 278.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 678,150 shares of the real estate investment trust’s stock valued at $17,618,000 after acquiring an additional 498,985 shares in the last quarter. BlueCrest Capital Management Ltd increased its holdings in shares of Tanger Factory Outlet Centers by 774.8% during the second quarter. BlueCrest Capital Management Ltd now owns 560,577 shares of the real estate investment trust’s stock valued at $14,564,000 after acquiring an additional 496,493 shares in the last quarter. Finally, Numeric Investors LLC bought a new position in shares of Tanger Factory Outlet Centers during the second quarter valued at $12,855,000. Institutional investors and hedge funds own 96.53% of the company’s stock.

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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