Boenning Scattergood Reaffirms Hold Rating for Tanger Factory Outlet Centers (SKT)

Boenning Scattergood reiterated their hold rating on shares of Tanger Factory Outlet Centers (NYSE:SKT) in a research note issued to investors on Thursday morning. Boenning Scattergood also issued estimates for Tanger Factory Outlet Centers’ Q1 2018 earnings at $0.58 EPS, Q2 2018 earnings at $0.60 EPS, Q3 2018 earnings at $0.58 EPS, Q4 2018 earnings at $0.69 EPS, FY2018 earnings at $2.44 EPS, Q1 2019 earnings at $0.61 EPS, Q2 2019 earnings at $0.62 EPS, Q3 2019 earnings at $0.63 EPS, Q4 2019 earnings at $0.70 EPS and FY2019 earnings at $2.56 EPS.

“We continue to rate SKT Neutral as the company has a solid balance sheet, but the lack of underlying growth and development will result in poor earnings momentum during 2018.”,” the firm’s analyst wrote.

Other analysts have also recently issued research reports about the stock. ValuEngine cut shares of Tanger Factory Outlet Centers from a buy rating to a hold rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a hold rating to a sell rating in a research report on Wednesday, January 10th. Bank of America upgraded shares of Tanger Factory Outlet Centers from an underperform rating to a neutral rating in a research report on Thursday, November 9th. Jefferies Group restated a hold rating and issued a $24.00 price objective on shares of Tanger Factory Outlet Centers in a research report on Friday, December 22nd. Finally, Citigroup lowered their price objective on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a sell rating for the company in a research report on Friday, November 10th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $26.60.

Shares of Tanger Factory Outlet Centers (SKT) opened at $22.55 on Thursday. The company has a market cap of $2,130.00, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 2.96 and a beta of 0.44. Tanger Factory Outlet Centers has a 1 year low of $21.14 and a 1 year high of $34.76. The company has a current ratio of 0.07, a quick ratio of 0.10 and a debt-to-equity ratio of 2.88.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $126.49 million during the quarter, compared to analysts’ expectations of $122.67 million. Tanger Factory Outlet Centers had a net margin of 13.80% and a return on equity of 10.45%. equities research analysts forecast that Tanger Factory Outlet Centers will post 2.44 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were given a $0.343 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 6.08%. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. Tanger Factory Outlet Centers’s dividend payout ratio is currently 195.71%.

In related news, CMO Carrie A. Geldner sold 2,250 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $24.50, for a total value of $55,125.00. Following the completion of the sale, the chief marketing officer now owns 51,261 shares in the company, valued at approximately $1,255,894.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.80% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. boosted its stake in Tanger Factory Outlet Centers by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 303 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tanger Factory Outlet Centers by 34.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 2,107 shares during the period. FDx Advisors Inc. boosted its stake in Tanger Factory Outlet Centers by 10.5% in the 4th quarter. FDx Advisors Inc. now owns 23,221 shares of the real estate investment trust’s stock worth $616,000 after purchasing an additional 2,215 shares during the period. ING Groep NV boosted its stake in Tanger Factory Outlet Centers by 22.6% in the 4th quarter. ING Groep NV now owns 14,263 shares of the real estate investment trust’s stock worth $378,000 after purchasing an additional 2,633 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Tanger Factory Outlet Centers by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 142,092 shares of the real estate investment trust’s stock worth $3,691,000 after purchasing an additional 2,704 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

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Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

Analyst Recommendations for Tanger Factory Outlet Centers (NYSE:SKT)

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