Tanger Inc. (NYSE:SKT – Get Free Report) declared a quarterly dividend on Tuesday, July 16th, Zacks reports. Stockholders of record on Wednesday, July 31st will be given a dividend of 0.275 per share by the real estate investment trust on Thursday, August 15th. This represents a $1.10 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Wednesday, July 31st.
Tanger has raised its dividend by an average of 10.8% annually over the last three years. Tanger has a dividend payout ratio of 127.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Tanger to earn $2.16 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 50.9%.
Tanger Trading Up 1.0 %
Tanger stock opened at $28.63 on Tuesday. The stock has a market cap of $3.13 billion, a P/E ratio of 31.46, a PEG ratio of 3.02 and a beta of 1.90. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.20 and a current ratio of 0.20. Tanger has a fifty-two week low of $21.42 and a fifty-two week high of $29.98. The firm’s fifty day moving average price is $27.23 and its 200-day moving average price is $27.72.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on Tanger
Tanger Company Profile
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.
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