Tanger (NYSE:SKT – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.05-2.12 for the period, compared to the consensus EPS estimate of $2.07. Tanger also updated its FY 2024 guidance to 2.050-2.120 EPS.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Compass Point raised Tanger from a neutral rating to a buy rating and lifted their price target for the company from $31.00 to $32.00 in a research note on Thursday, May 2nd. Evercore ISI lowered their price objective on Tanger from $29.00 to $28.00 and set an in-line rating for the company in a research report on Wednesday, May 1st. Finally, Scotiabank upgraded Tanger from a sector underperform rating to a sector perform rating and raised their price objective for the stock from $20.00 to $28.00 in a research report on Friday, May 17th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tanger currently has a consensus rating of Hold and an average price target of $29.57.
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Tanger Stock Performance
Tanger Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.10 annualized dividend and a yield of 3.93%. Tanger’s dividend payout ratio is currently 120.88%.
Tanger Company Profile
Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.
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