Tanger (NYSE:SKT - Get Free Report) issued its earnings results on Wednesday. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02, Zacks reports. The business had revenue of $132.17 million during the quarter, compared to the consensus estimate of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.82%. Tanger updated its FY 2025 guidance to 2.220-2.300 EPS.
Tanger Price Performance
NYSE:SKT traded down $0.06 during trading hours on Friday, reaching $35.88. 899,064 shares of the company were exchanged, compared to its average volume of 706,155. The business has a 50 day moving average of $33.77 and a 200 day moving average of $33.23. Tanger has a 1-year low of $25.94 and a 1-year high of $37.57. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market capitalization of $3.97 billion, a P/E ratio of 41.24, a P/E/G ratio of 2.87 and a beta of 1.91.
Tanger Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Friday, January 31st. Tanger's dividend payout ratio (DPR) is currently 126.44%.
Analysts Set New Price Targets
SKT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Tanger in a report on Tuesday, December 17th. They set a "hold" rating and a $37.00 target price on the stock. Citigroup upped their price target on shares of Tanger from $34.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. The Goldman Sachs Group upped their price target on shares of Tanger from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. BMO Capital Markets assumed coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 price objective for the company. Finally, Bank of America raised Tanger from a "neutral" rating to a "buy" rating and upped their target price for the company from $35.00 to $40.00 in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $36.00.
Get Our Latest Stock Analysis on SKT
About Tanger
(
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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.
Further Reading
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