Tanger (SKT) to Release Earnings on Wednesday

Tanger (NYSE:SKT) is anticipated to post its quarterly earnings results after the market closes on Wednesday, February 19th. Analysts expect Tanger to post earnings of $0.52 per share and revenue of $129.10 million for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Tanger Stock Performance

Shares of SKT opened at $34.23 on Tuesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 2.82 and a beta of 1.91. The stock has a 50 day moving average of $33.79 and a 200 day moving average of $33.09. Tanger has a 12 month low of $25.94 and a 12 month high of $37.57.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Friday, January 31st. Tanger’s dividend payout ratio is currently 127.91%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SKT shares. Compass Point raised their target price on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Evercore ISI raised their target price on Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Citigroup raised their target price on Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft started coverage on Tanger in a research report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 target price for the company. Finally, BMO Capital Markets began coverage on Tanger in a research report on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.00.

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.