Tanger (SKT) Expected to Announce Earnings on Wednesday

Tanger (NYSE:SKT) is projected to issue its Q1 2025 quarterly earnings data after the market closes on Wednesday, April 30th. Analysts expect the company to announce earnings of $0.53 per share and revenue of $128.24 million for the quarter. Tanger has set its FY 2025 guidance at 2.220-2.300 EPS.

Tanger (NYSE:SKT) last released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $132.17 million for the quarter, compared to analysts’ expectations of $129.10 million. Tanger had a return on equity of 16.16% and a net margin of 18.65%. On average, analysts expect Tanger to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Tanger Trading Up 1.9 %

Shares of Tanger stock opened at $31.68 on Wednesday. Tanger has a 52-week low of $25.94 and a 52-week high of $37.57. The firm has a market capitalization of $3.59 billion, a PE ratio of 36.41, a price-to-earnings-growth ratio of 2.97 and a beta of 1.49. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13. The company’s fifty day moving average price is $33.08 and its two-hundred day moving average price is $33.96.

Tanger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be issued a $0.2925 dividend. The ex-dividend date is Wednesday, April 30th. This is a boost from Tanger’s previous quarterly dividend of $0.28. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.69%. Tanger’s dividend payout ratio is presently 134.48%.

Wall Street Analyst Weigh In

SKT has been the subject of several recent analyst reports. The Goldman Sachs Group raised shares of Tanger from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $39.00 to $40.00 in a report on Friday, March 28th. BMO Capital Markets began coverage on Tanger in a report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Tanger presently has an average rating of “Moderate Buy” and a consensus price target of $36.63.

Insider Buying and Selling at Tanger

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total transaction of $404,750.00. Following the completion of the sale, the chief operating officer now owns 113,158 shares of the company’s stock, valued at $3,664,056.04. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.70% 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.