Tanger (NYSE:SKT) Issues FY 2025 Earnings Guidance

Tanger (NYSE:SKT) issued an update on its FY 2025 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.280-2.320 for the period, compared to the consensus estimate of 1.470. The company issued revenue guidance of -.

Tanger Stock Performance

SKT traded down $0.19 during midday trading on Thursday, hitting $33.69. 401,426 shares of the company were exchanged, compared to its average volume of 931,327. Tanger has a 1-year low of $28.69 and a 1-year high of $37.57. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 38.25, a price-to-earnings-growth ratio of 2.13 and a beta of 1.37. The company’s 50 day simple moving average is $33.43 and its 200 day simple moving average is $31.86.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. Tanger had a return on equity of 15.45% and a net margin of 18.22%.The company had revenue of $137.23 million for the quarter, compared to analysts’ expectations of $139.30 million. During the same period in the previous year, the firm posted $0.54 EPS. Tanger’s revenue was up 9.2% compared to the same quarter last year. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. As a group, sell-side analysts predict that Tanger will post 2.24 earnings per share for the current year.

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.2925 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.17 dividend on an annualized basis and a yield of 3.5%. Tanger’s payout ratio is 132.95%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SKT shares. Wall Street Zen upgraded shares of Tanger from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a report on Wednesday, October 8th. Barclays upped their price objective on shares of Tanger from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. LADENBURG THALM/SH SH assumed coverage on shares of Tanger in a research note on Friday, July 18th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Evercore ISI raised their target price on shares of Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Tanger has an average rating of “Moderate Buy” and an average price target of $37.00.

Insider Transactions at Tanger

In other news, EVP Gallardo Leslie Swanson sold 17,500 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $34.74, for a total value of $607,950.00. Following the completion of the sale, the executive vice president directly owned 92,665 shares in the company, valued at approximately $3,219,182.10. The trade was a 15.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its stake in Tanger by 127.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 531 shares during the last quarter. United Services Automobile Association acquired a new position in Tanger during the first quarter worth $233,000. Cerity Partners LLC acquired a new position in Tanger during the second quarter worth $224,000. Corient Private Wealth LLC acquired a new position in Tanger during the second quarter worth $288,000. Finally, M&T Bank Corp increased its holdings in Tanger by 3.3% during the second quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust’s stock worth $314,000 after buying an additional 326 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

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.