Tanger (SKT) to Release Earnings on Tuesday

Tanger (NYSE:SKT) is set to issue its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.50 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Tanger Stock Performance

Shares of SKT stock opened at $28.88 on Friday. The company’s fifty day simple moving average is $28.46 and its 200-day simple moving average is $26.81. Tanger has a 52 week low of $18.00 and a 52 week high of $29.98. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 2.43. The company has a market cap of $3.15 billion, a PE ratio of 31.39, a P/E/G ratio of 3.62 and a beta of 1.83.

Tanger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Monday, April 29th. This is an increase from Tanger’s previous quarterly dividend of $0.26. Tanger’s dividend payout ratio (DPR) is currently 113.04%.

Analyst Upgrades and Downgrades

SKT has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Tanger from $28.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. Bank of America raised shares of Tanger from an “underperform” rating to a “neutral” rating and raised their price target for the company from $24.00 to $31.00 in a report on Friday, April 5th. Finally, Citigroup raised shares of Tanger from a “neutral” rating to a “buy” rating and raised their price target for the company from $30.00 to $33.00 in a report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.00.

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.