Tanger (NYSE:SKT) Issues FY 2025 Earnings Guidance

Tanger (NYSE:SKT) issued an update on its FY 2025 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.280-2.320 for the period, compared to the consensus earnings per share estimate of 1.470. The company issued revenue guidance of -.

Tanger Stock Performance

NYSE SKT traded up $0.89 during trading hours on Tuesday, hitting $33.67. The company had a trading volume of 1,692,801 shares, compared to its average volume of 929,988. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.11 and a current ratio of 0.11. Tanger has a 1-year low of $28.69 and a 1-year high of $37.57. The company has a market cap of $3.81 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.13 and a beta of 1.36. The business has a 50 day moving average of $33.42 and a 200-day moving average of $31.84.

Tanger (NYSE:SKT) last released its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Tanger had a net margin of 18.22% and a return on equity of 15.45%. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. As a group, equities research analysts expect that Tanger will post 2.24 EPS for the current year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.2925 per share. The ex-dividend date is Friday, October 31st. This represents a $1.17 annualized dividend and a dividend yield of 3.5%. Tanger’s dividend payout ratio is 132.95%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SKT shares. Wall Street Zen raised shares of Tanger from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Evercore ISI increased their price target on shares of Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a report on Friday, October 17th. LADENBURG THALM/SH SH started coverage on shares of Tanger in a report on Friday, July 18th. They set a “buy” rating and a $35.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a report on Wednesday, October 8th. Finally, Barclays increased their price target on shares of Tanger from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Insider Activity at Tanger

In other news, EVP Gallardo Leslie Swanson sold 17,500 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $34.74, for a total value of $607,950.00. Following the sale, the executive vice president directly owned 92,665 shares in the company, valued at $3,219,182.10. This represents a 15.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of Tanger

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Tanger by 127.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 531 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Tanger during the 2nd quarter valued at $224,000. United Services Automobile Association acquired a new position in shares of Tanger during the 1st quarter valued at $233,000. Corient Private Wealth LLC acquired a new position in shares of Tanger during the 2nd quarter valued at $288,000. Finally, M&T Bank Corp lifted its holdings in shares of Tanger by 3.3% during the 2nd quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust’s stock valued at $314,000 after acquiring an additional 326 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

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.