Tanger (SKT) Expected to Announce Earnings on Wednesday

Tanger (NYSE:SKT - Get Free Report) is expected to be issuing its quarterly earnings data after the market closes on Wednesday, February 19th. Analysts expect the company to announce earnings of $0.52 per share and revenue of $129.10 million for the quarter. Parties interested in listening to the company's conference call can do so using this link.

Tanger Trading Down 0.8 %

Shares of SKT stock traded down $0.28 on Friday, reaching $34.23. 748,581 shares of the stock were exchanged, compared to its average volume of 669,294. The stock has a market cap of $3.79 billion, a P/E ratio of 39.80, a price-to-earnings-growth ratio of 2.82 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. The firm has a 50 day moving average of $33.83 and a two-hundred day moving average of $33.02. Tanger has a 1-year low of $25.94 and a 1-year high of $37.57.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.275 per share. The ex-dividend date was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.21%. Tanger's payout ratio is 127.91%.

Insider Transactions at Tanger

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total transaction of $108,810.00. Following the transaction, the chief accounting officer now owns 59,641 shares of the company's stock, valued at approximately $2,163,179.07. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.80% of the company's stock.

Analyst Upgrades and Downgrades

SKT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Tanger in a report on Tuesday, December 17th. They issued a "hold" rating and a $37.00 price target for the company. The Goldman Sachs Group increased their price target on Tanger from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Citigroup increased their price target on Tanger from $34.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. BMO Capital Markets initiated coverage on Tanger in a report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 price target for the company. Finally, Compass Point increased their price target on Tanger from $34.00 to $36.00 and gave the company a "buy" rating in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Tanger has an average rating of "Hold" and a consensus 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.