|Bid||0.00 x 900|
|Ask||6.84 x 1400|
|Day's Range||6.09 - 6.64|
|52 Week Range||4.05 - 17.94|
|Beta (5Y Monthly)||1.91|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul. 29, 2020 - Aug. 03, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Apr. 29, 2020|
|1y Target Est||4.60|
Tanger just made the difficult decision to focus on the long term in the face of unprecedented headwinds. Here's why it was the right call.
The rapid decline can be attributed to government-required retail store closures. Tanger Factory Outlet Centers (NYSE: SKT) is one of those property owners waiting to see what happens next. Headquartered in North Carolina, Tanger Outlets is a real estate investment trust (REIT) with 39 upscale outlet shopping centers in 20 states and Canada, leasing to over 2,800 stores.
Tanger and Simon are struggling through a difficult period for malls, but Simon looks better positioned for the long term
This is Cyndi Holt, Vice President of Investor Relations and I would like to welcome you to the Tanger Factory Outlet Centers' first quarter 2020 conference call. Good morning and thank you for joining us.
The pain started with Tanger, but quickly spread to the entire mall REIT sector. Investors are still absorbing earnings.
Investors appear to be digesting the outlet center REIT's earnings and coming to the conclusion that things are as bad as they look
Tanger Factory Outlet Centers (NYSE: SKT) bit the bullet Monday, releasing first-quarter results that were strongly impacted by the SARS-CoV-2 coronavirus pandemic. Adjusted funds from operations (the REIT equivalent of earnings) fell to $48.7 million, or $0.50 per share; this was $55.9 million in last year's Q1. The REIT also said that once it pays its upcoming dividend of nearly $0.36 per share (scheduled for this week), it will temporarily suspend the payout.
Tanger (SKT) delivered FFO and revenue surprises of -3.85% and -1.64%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
The stock market ended the week on a positive note, with the Dow Jones Industrial Average and S&P 500 up by 1.5% and 1.4%, respectively, as of 3 p.m. EDT. Mall operator Macerich (NYSE: MAC) was a particular standout, with the retail REIT's shares up by nearly 11%. This is especially true with outdoor (open-air) shopping centers.
Warren Buffett talked about the changing retail and commercial real estate business at Berkshire Hathaway's annual meeting with shareholders.
Times are tough and money is tight, but these three investments in the retail space have compelling businesses built to deal with the new normal.
Investors need to pay close attention to Tanger Factory Outlet (SKT) stock based on the movements in the options market lately.
U.S. stocks ticked higher on Monday, as people returned to work in China after an extended new year holiday triggered by the coronavirus outbreak but sentiment remained fragile. Electric carmaker Tesla Inc jumped 6.3% as its Shanghai factory returned to service. On the other hand, Apple Inc slipped 0.6%, the biggest drag on the three main indexes, as analysts predicted China's smartphone sales may plunge by as much as 50% in the first quarter due to store closures and production suspensions following the outbreak.
In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market...
Tanger Factory Outlet (SKT) closed the most recent trading day at $14.90, moving +0.54% from the previous trading session.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Tanger (SKT) delivered FFO and revenue surprises of 1.75% and 0.07%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?