Tanger (NYSE:SKT) Releases Earnings Results, Beats Estimates By $0.02 EPS

Tanger (NYSE:SKT) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02, Zacks reports. Tanger had a return on equity of 16.25% and a net margin of 18.55%. Tanger updated its FY 2025 guidance to 2.220-2.300 EPS.

Tanger Stock Down 0.2 %

Shares of NYSE:SKT traded down $0.06 on Wednesday, reaching $34.65. The company had a trading volume of 704,363 shares, compared to its average volume of 684,516. Tanger has a twelve month low of $25.94 and a twelve month high of $37.57. The stock has a 50-day moving average price of $33.79 and a 200 day moving average price of $33.09. The stock has a market capitalization of $3.84 billion, a P/E ratio of 40.29, a P/E/G ratio of 2.84 and a beta of 1.91. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.40.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.275 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.17%. Tanger’s dividend payout ratio is currently 127.91%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SKT. Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and lifted their price target for the company from $35.00 to $40.00 in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft began coverage on Tanger in a report on Tuesday, December 17th. They set a “hold” rating and a $37.00 price target on the stock. BMO Capital Markets initiated coverage on Tanger in a report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target on the stock. Compass Point boosted their target price on Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group boosted their target price on Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. 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, Tanger has a consensus rating of “Hold” and an average target price of $36.00.

About Tanger

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.