Tanger (NYSE:SKT) Issues FY 2025 Earnings Guidance

Tanger (NYSE:SKT) issued an update on its FY 2025 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.220-2.300 for the period, compared to the consensus earnings per share estimate of 2.230. The company issued revenue guidance of -.

Tanger Stock Performance

Shares of SKT traded down $0.06 during mid-day trading on Wednesday, hitting $34.65. 703,602 shares of the company’s stock were exchanged, compared to its average volume of 684,391. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.40. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 40.29, a price-to-earnings-growth ratio of 2.84 and a beta of 1.91. The stock’s 50-day simple moving average is $33.79 and its 200-day simple moving average is $33.09. Tanger has a 52 week low of $25.94 and a 52 week high of $37.57.

Tanger Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.275 per share. The ex-dividend date was Friday, January 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.17%. Tanger’s dividend payout ratio is 127.91%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SKT shares. Citigroup raised their target price on shares of Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Compass Point raised their target price on shares of Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Bank of America upgraded shares of Tanger from a “neutral” rating to a “buy” rating and raised their target price for the company from $35.00 to $40.00 in a research report on Monday, November 11th. BMO Capital Markets started coverage on shares of Tanger in a research report on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 target price on the stock. Finally, Evercore ISI raised their target price on shares of Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Tanger has a consensus rating of “Hold” and an average 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.