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

Tanger (NYSE:SKT) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02, Zacks reports. The firm had revenue of $132.17 million for the quarter, compared to analysts’ expectations of $129.10 million. Tanger had a net margin of 18.55% and a return on equity of 16.25%. Tanger updated its FY 2025 guidance to 2.220-2.300 EPS.

Tanger Price Performance

SKT traded up $1.75 on Thursday, reaching $36.34. The company had a trading volume of 102,416 shares, compared to its average volume of 667,136. The company has a fifty day moving average of $33.76 and a 200-day moving average of $33.14. The company has a market capitalization of $4.02 billion, a P/E ratio of 42.15, a PEG ratio of 2.88 and a beta of 1.91. 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 one year low of $25.94 and a one year high of $37.57.

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.03%. Tanger’s dividend payout ratio is presently 127.91%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price target on the stock. Bank of America raised shares of Tanger from a “neutral” rating to a “buy” rating and increased their target price for the stock from $35.00 to $40.00 in a report on Monday, November 11th. The Goldman Sachs Group increased their target price on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Evercore ISI increased their target price on shares of Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, Compass Point increased their target price on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Tanger has an average rating of “Hold” and a consensus target price of $36.00.

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.