Tanger Factory Outlet Centers Inc. (SKT) to Issue Quarterly Dividend of $0.36 on August 15th

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Tanger Factory Outlet Centers Inc. (NYSE:SKT) declared a quarterly dividend on Thursday, July 11th, Zacks reports. Investors of record on Wednesday, July 31st will be paid a dividend of 0.355 per share by the real estate investment trust on Thursday, August 15th. This represents a $1.42 annualized dividend and a yield of 8.66%. The ex-dividend date is Tuesday, July 30th.

Shares of SKT opened at $16.39 on Friday. The stock’s fifty day moving average price is $16.55. Tanger Factory Outlet Centers has a 12-month low of $15.48 and a 12-month high of $24.91. The company has a market capitalization of $1.54 billion, a PE ratio of 6.70 and a beta of 0.64. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.02 and a quick ratio of 0.02.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.09. The firm had revenue of $123.16 million for the quarter, compared to analysts’ expectations of $122.16 million. Tanger Factory Outlet Centers had a return on equity of 15.71% and a net margin of 16.76%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the business posted $0.60 earnings per share. Sell-side analysts predict that Tanger Factory Outlet Centers will post 2.23 EPS for the current year.

In other news, VP Virginia R. Summerell sold 20,604 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $18.18, for a total transaction of $374,580.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Carrie A. Warren sold 6,878 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $18.06, for a total value of $124,216.68. Following the transaction, the senior vice president now directly owns 50,623 shares in the company, valued at $914,251.38. The disclosure for this sale can be found here. Insiders have sold 31,482 shares of company stock worth $573,427 over the last three months. Corporate insiders own 2.30% of the company’s stock.

A number of research firms have issued reports on SKT. ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Boenning Scattergood began coverage on Tanger Factory Outlet Centers in a research note on Monday, March 25th. They issued an “outperform” rating and a $27.00 target price on the stock. Goldman Sachs Group upgraded MICHELIN COMPAG/ADR from a “neutral” rating to a “buy” rating in a research note on Thursday, May 9th. Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Citigroup reiterated a “buy” rating on shares of Healthequity in a research note on Friday, June 28th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.00.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 40 upscale outlet shopping centers. Tanger's operating properties are located in 20 states coast to coast and in Canada, totaling approximately 14.4 million square feet leased to over 2,900 stores operated by more than 500 different brand name companies.

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Dividend History for Tanger Factory Outlet Centers (NYSE:SKT)

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