Tanger Inc. Announces Quarterly Dividend of $0.29 (NYSE:SKT)

Tanger Inc. (NYSE:SKT) declared a quarterly dividend on Thursday, January 15th. Stockholders of record on Friday, January 30th will be paid a dividend of 0.2925 per share by the real estate investment trust on Friday, February 13th. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, January 30th.

Tanger has decreased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Tanger has a payout ratio of 119.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Tanger to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 50.0%.

Tanger Stock Down 0.0%

Shares of SKT stock traded down $0.01 during trading hours on Thursday, reaching $33.50. 623,382 shares of the stock were exchanged, compared to its average volume of 1,154,828. Tanger has a 12-month low of $28.69 and a 12-month high of $36.76. The business’s fifty day moving average is $33.62 and its two-hundred day moving average is $33.02. The firm has a market capitalization of $3.86 billion, a P/E ratio of 35.64, a P/E/G ratio of 1.87 and a beta of 1.06. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.51 and a quick ratio of 0.51.

Tanger (NYSE:SKT) last issued its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Tanger had a net margin of 19.15% and a return on equity of 15.75%. The firm had revenue of $145.21 million during the quarter, compared to the consensus estimate of $139.30 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company’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, research analysts expect that Tanger will post 2.24 EPS for the current fiscal year.

Institutional Trading of Tanger

Several institutional investors and hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC purchased a new position in shares of Tanger during the 3rd quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its position in Tanger by 127.3% during the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 531 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Tanger in the third quarter worth $33,000. City Holding Co. purchased a new stake in shares of Tanger in the third quarter valued at $34,000. Finally, Neo Ivy Capital Management boosted its stake in shares of Tanger by 346.3% during the second quarter. Neo Ivy Capital Management now owns 1,312 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,018 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

About Tanger

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company’s portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger’s centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.