Tanger Factory Outlet Centers Inc. (NYSE:SKT) Declares $0.36 Quarterly Dividend

Tanger Factory Outlet Centers Inc. (NYSE:SKT) announced a quarterly dividend on Thursday, July 11th, Zacks reports. Stockholders of record on Wednesday, July 31st will be paid a dividend of 0.355 per share by the real estate investment trust on Thursday, August 15th. This represents a $1.42 annualized dividend and a dividend yield of 8.66%. The ex-dividend date of this dividend is Tuesday, July 30th.

Shares of Tanger Factory Outlet Centers stock opened at $16.39 on Friday. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 6.70 and a beta of 0.64. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 3.33. Tanger Factory Outlet Centers has a 52-week low of $15.48 and a 52-week high of $24.91. The firm’s 50-day moving average price is $16.55.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.09. The business had revenue of $123.16 million during the quarter, compared to analyst estimates of $122.16 million. Tanger Factory Outlet Centers had a return on equity of 15.71% and a net margin of 16.76%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. On average, equities research analysts predict that Tanger Factory Outlet Centers will post 2.23 EPS for the current year.

In other Tanger Factory Outlet Centers news, EVP Chad Perry sold 3,000 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $18.64, for a total value of $55,920.00. Following the transaction, the executive vice president now directly owns 92,096 shares of the company’s stock, valued at approximately $1,716,669.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Virginia R. Summerell sold 20,604 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $18.18, for a total value of $374,580.72. The disclosure for this sale can be found here. Insiders sold a total of 31,482 shares of company stock worth $573,427 over the last three months. 2.30% of the stock is owned by company insiders.

A number of research analysts recently weighed in on the company. Citigroup reissued a “buy” rating on shares of Healthequity in a research note on Friday, June 28th. Boenning Scattergood assumed coverage on Tanger Factory Outlet Centers in a research note on Monday, March 25th. They issued an “outperform” rating and a $27.00 price objective on the stock. Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Goldman Sachs Group raised MICHELIN COMPAG/ADR from a “neutral” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Tanger Factory Outlet Centers presently has an average rating of “Hold” and an average price target of $21.00.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 40 upscale outlet shopping centers. Tanger's operating properties are located in 20 states coast to coast and in Canada, totaling approximately 14.4 million square feet leased to over 2,900 stores operated by more than 500 different brand name companies.

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Dividend History for Tanger Factory Outlet Centers (NYSE:SKT)

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