Tanger (NYSE:SKT) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Tanger (NYSE:SKT) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate 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 %

Shares of Tanger stock traded down $0.06 on Wednesday, hitting $34.65. 704,363 shares of the company traded hands, compared to its average volume of 684,530. The stock’s 50 day moving average price is $33.79 and its 200-day moving average price is $33.09. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40. Tanger has a 52 week low of $25.94 and a 52 week high of $37.57. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently commented on SKT shares. Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $35.00 to $40.00 in a research report on Monday, November 11th. Citigroup raised their price objective on shares of Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. BMO Capital Markets began coverage on shares of Tanger in a research note on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Tanger in a research note on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price objective for the company. Finally, Evercore ISI raised their price objective on shares of Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.