Tanger Inc. (NYSE:SKT – Get Free Report) announced a quarterly dividend on Thursday, October 15th. Investors of record on Friday, October 30th will be given a dividend of $0.3125 per share by the real estate investment trust on Friday, November 13th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, October 30th.
Tanger has increased its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 4 years. Tanger has a dividend payout ratio of 127.6% meaning 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 $2.62 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 47.7%.
Tanger Price Performance
SKT traded up $0.12 during trading on Friday, reaching $35.43. 1,312,632 shares of the company were exchanged, compared to its average volume of 1,051,510. Tanger has a 12-month low of $31.13 and a 12-month high of $42.53. The company’s 50-day moving average is $36.51 and its two-hundred day moving average is $37.50. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 2.65. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 32.21, a P/E/G ratio of 1.73 and a beta of 1.12.
Tanger (NYSE:SKT – Get Free Report) last posted its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Tanger had a return on equity of 17.72% and a net margin of 20.74%. The business had revenue of $156.39 million during the quarter, compared to analyst estimates of $142.58 million. During the same quarter in the previous year, the firm earned $0.58 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Research analysts forecast that Tanger will post 2.50 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have issued reports on SKT shares. JPMorgan Chase & Co. cut shares of Tanger from an “overweight” rating to a “neutral” rating and set a $39.00 target price on the stock. in a research note on Thursday, September 24th. Evercore set a $39.00 price target on shares of Tanger in a research report on Tuesday, July 7th. Citigroup upped their price target on shares of Tanger from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. The Goldman Sachs Group set a $40.00 price objective on Tanger in a research report on Wednesday, October 7th. Finally, Barclays dropped their price objective on Tanger from $42.00 to $41.00 and set an “equal weight” rating for the company in a research note on Monday, September 28th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tanger presently has a consensus rating of “Hold” and an average price target of $40.17.
Check Out Our Latest Stock Report on SKT
About Tanger
Tanger Inc is a real estate investment trust that owns, operates and develops open-air outlet shopping centers. The company leases retail space to a broad range of brand-name and designer retailers, including apparel, footwear, accessories, home goods and other consumer-oriented businesses.
Founded in 1981 by Stanley K. Tanger, the company helped establish the outlet-center format in the United States. Tanger’s properties are designed to serve both local shoppers and tourists, with tenants offering merchandise through outlet and value-oriented retail concepts.
Tanger serves markets across the United States and Canada through a portfolio of outlet centers located near major metropolitan areas, tourist destinations and highway corridors.
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