Tanger (NYSE:SKT) Announces Earnings Results

Tanger (NYSE:SKT) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02, Zacks reports. Tanger had a return on equity of 16.25% and a net margin of 18.55%. Tanger updated its FY 2025 guidance to 2.220-2.300 EPS.

Tanger Trading Down 0.2 %

SKT traded down $0.06 on Wednesday, hitting $34.65. The company had a trading volume of 704,363 shares, compared to its average volume of 684,530. The company has a market cap of $3.84 billion, a PE ratio of 40.29, a PEG ratio of 2.84 and a beta of 1.91. Tanger has a 12-month low of $25.94 and a 12-month high of $37.57. 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 business’s fifty day simple moving average is $33.79 and its 200 day simple moving average is $33.09.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given 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 3.17%. Tanger’s payout ratio is 127.91%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SKT shares. Evercore ISI increased their price target on Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Citigroup increased their price target on Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group increased their price target on Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Compass Point raised their price objective on Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and raised their price objective 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.