In the last trading session, 2,574,291 shares of the Tanger Factory Outlet Centers, Inc.(NYSE:SKT) were traded, and its beta was 1.92. Most recently the company’s share price was $14.6, and it changed around $0.16 or 0.01% from the last close, which brings the market valuation of the company to $1.37 Billion. SKT currently trades at a discount to its 52-week high of $20.96, offering almost -43.56% off that amount. The share price’s 52-week low was $4.05, which indicates that the current value has risen by an impressive 72.26% since then. We note from Tanger Factory Outlet Centers, Inc.’s average daily trading volume that its 10-day average is 2.61 Million shares, with the 3-month average coming to 4.05 Million.
Tanger Factory Outlet Centers, Inc. stock received a consensus recommendation rating of Underweight, based on a mean score of 3.5. If we narrow it down even further, the data shows that 3 out of 8 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 4 recommended SKT as a Hold, whereas none deemed it a Buy, and 1 rated it as Underweight. Tanger Factory Outlet Centers, Inc. is expected to report earnings per share of $0.04 for the current quarter.
Tanger Factory Outlet Centers, Inc. (NYSE:SKT): Trading Information
Instantly SKT has showed a green trend with a performance of 1.11% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $14.95 on Friday, Feb 19 increased the stock’s daily price by 2.34%. The company’s shares are currently up 0.47% year-to-date, but still up 0.0048 over the last five days. On the other hand, Tanger Factory Outlet Centers, Inc. (NYSE:SKT) is 0.09% up in the 30-day period. We can see from the shorts that 36.84 Million shares have been sold at a short interest cover period of 9.1 day(s).
The consensus price target as assigned by Wall Street analysts is $10.43, which translates to bears needing to reduce their stock price by -28.56% from its current value. Analyst projections state that SKT is forecast to be at a low of $7 and a high of $14. In order for the stock price to hit the forecast high, the stock would need to surge -4.11% from its current level, while the stock would need to crash -52.05% from its current level to reach the projected low.
Tanger Factory Outlet Centers, Inc. (SKT) projections and forecasts
Tanger Factory Outlet Centers, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +147.46 percent over the past six months and at a -8.86% annual growth rate that is well below the industry average of -6.6%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +113.3% in revenue this quarter, and will report an increase of 108% in the next quarter. The year-over-year growth rate is expected to be 1.9%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $99.66 Million in revenue for the current quarter. 2 analysts expect Tanger Factory Outlet Centers, Inc. to make $96.37 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarter a year ago was $108.56 Million. Analysts predict that the company’s current quarter sales will drop, forecast at -8.2%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 3.9%. Tanger Factory Outlet Centers, Inc. earnings are expected to increase by 104.9% in 2021, but the outlook is positive 6.7% per year for the next five years.
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SKT Dividend Yield
Tanger Factory Outlet Centers, Inc.’s next quarterly earnings report is expected to be released around May 10 – May 14, 2021. The annual dividend yield of the stock is 4.86 percent and its annual dividend per share was $0.71. It is important to note, however, that the 4.86% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 8.1% per year.
Tanger Factory Outlet Centers, Inc. (NYSE:SKT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 2.6% of Tanger Factory Outlet Centers, Inc. shares, and 79.39% of them are in the hands of institutional investors. The stock currently has a share float of 81.51%. Tanger Factory Outlet Centers, Inc. stock is held by 330 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2020, it held 17.59% of the shares, which is about 16.44 Million shares worth $163.73 Million.
Vanguard Group, Inc. (The), with 15.33% or 14.33 Million shares worth $86.4 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.