Tanger (NYSE:SKT) Posts Earnings Results

Tanger (NYSE:SKT) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.54 earnings per share 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 Stock Performance

SKT traded down $0.06 on Wednesday, hitting $34.65. 704,363 shares of the stock traded hands, compared to its average volume of 684,516. Tanger has a 52 week low of $25.94 and a 52 week high of $37.57. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40. The firm has a market capitalization of $3.84 billion, a PE ratio of 40.29, a P/E/G ratio of 2.84 and a beta of 1.91. The business has a fifty day moving average price of $33.79 and a two-hundred day moving average price of $33.09.

Tanger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.275 per share. The ex-dividend date was Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.17%. Tanger’s dividend payout ratio is 127.91%.

Wall Street Analysts Forecast Growth

SKT has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Tanger in a research report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price target for the company. Compass Point boosted their price objective on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. The Goldman Sachs Group boosted their price objective on Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Citigroup boosted their price objective on Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Evercore ISI boosted their price objective on Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.