Last $33.44 USD
Change Today -0.12 / -0.36%
Volume 972.5K
SKT On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

tanger factory outlet center (SKT) Snapshot

Open
$33.67
Previous Close
$33.56
Day High
$33.80
Day Low
$33.36
52 Week High
06/9/14 - $36.77
52 Week Low
12/18/13 - $31.40
Market Cap
3.2B
Average Volume 10 Days
462.8K
EPS TTM
$1.14
Shares Outstanding
95.9M
EX-Date
07/28/14
P/E TM
29.3x
Dividend
$0.96
Dividend Yield
2.78%
Current Stock Chart for TANGER FACTORY OUTLET CENTER (SKT)

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tanger factory outlet center (SKT) Details

Tanger Factory Outlet Centers, Inc. is a real estate investment trust. The firm invests in the real estate markets in United States. It focuses on developing, acquiring, owning, operating, and managing outlet shopping centers. Tanger Factory Outlet Centers, Inc. was founded in 1981, and is based in Greensboro, North Carolina.

279 Employees
Last Reported Date: 03/3/14
Founded in 1981

tanger factory outlet center (SKT) Top Compensated Officers

Chief Executive Officer, President, and Direc...
Total Annual Compensation: $800.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $405.5K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $371.3K
Executive Vice President, General Counsel and...
Total Annual Compensation: $350.0K
Senior Vice President of Leasing
Total Annual Compensation: $254.2K
Compensation as of Fiscal Year 2013.

tanger factory outlet center (SKT) Key Developments

Tanger Factory Outlet Centers Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Year Ending December 31, 2014

Tanger Factory Outlet Centers Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $102,276,000 against $91,015,000 a year ago. Operating income was $32,587,000 against $29,856,000 a year ago. Income before equity in earnings of unconsolidated joint ventures was $18,107,000 against $17,273,000 a year ago. Net income available to common shareholders of company was $18,369,000 or $0.20 per basic and diluted share against $16,657,000 or $0.18 per basic and diluted share a year ago. Funds from operations were $47,080,000 against $43,074,000 a year ago. Funds from operations available to common shareholders were $46,094,000 or $0.47 per diluted share against $42,547,000 or $0.43 per diluted share a year ago. Adjusted FFO was $46,094,000 or $0.47 per share against $43,122,000 or $0.44 per share a year ago. For the six months, the company reported total revenues of $205,118,000 against $179,704,000 a year ago. Operating income was $61,116,000 against $58,371,000 a year ago. Income before equity in earnings of unconsolidated joint ventures was $31,614,000 against $32,912,000 a year ago. Net income available to common shareholders of company was $32,556,000 or $0.35 per basic and diluted share against $31,902,000 or $0.34 per basic and diluted share a year ago. Funds from operations were $90,827,000 against $84,519,000 a year ago. Funds from operations available to common shareholders were $88,937,000 or $0.90 per diluted share against $83,559,000 or $0.85 per diluted share a year ago. Adjusted FFO was $90,507,000 or $0.92 per share against $84,520,000 or $0.85 per share a year ago. For the year ending December 31, 2014, based on current view of market conditions and the strength and stability of its core portfolio, management has maintained the mid-point of its guidance range, and currently believes its net income available to common shareholders, funds from operations, and adjusted funds from operations for 2014 will be as follows: Estimated diluted net income per share to be in the range of $0.78 to $0.82. Estimated diluted FFO per share will be between $1.92 and $1.96. Estimated diluted AFFO per share will be between $1.94 and $1.98. The company’s 2014 guidance assumes a projected increase in the same-center net operating income of approximately 3%. The tenant sales will remain stable or increase modestly and that general and administrative expenses will average approximately $10.5 million to $11 million per quarter.

Tanger Outlet Centers Announces New Outlet Center in Grand Rapids

Tanger Factory Outlet Centers Inc. announced the start of construction on Tanger Outlets in Grand Rapids. The new fashion destination will create approximately 350,000 square feet of retail space and feature over 80 upscale brand name and designer outlet retailers. The new Tanger Outlets Center will be located approximately 11 miles south of downtown Grand Rapids at the southwest quadrant of US-131 and 84th Street in Byron Township. The new development project will create over 300 jobs during the construction phase and over 1,000 full and part-time jobs once the center opens in fall of 2015. Once open the center will create an estimated economic impact of $7.35 million in additional sales tax revenue for the area.

Tanger Factory Outlet Centers Inc. Appoints Jeffrey B. Citrin as Member of Board of Directors

Tanger Factory Outlet Centers Inc. announced that its Board of Directors has elected Jeffrey B. Citrin as a member of Tanger's Board of Directors. Mr. Citrin contributes over 30 years of real estate investment and capital management experience to Tanger's Board. Mr. Citrin is the Founder of Square Mile Capital Management LLC, where he has been the Co-Managing Principal since 2006. Prior to Square Mile Capital, Mr. Citrin co-founded Blackacre Capital Management LLC (now known as Cerberus Institutional Real Estate) in 1994, where he served as President until 2005.

 

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SKT Competitors

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Company Last Change
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Industry Analysis

SKT

Industry Average

Valuation SKT Industry Range
Price/Earnings 29.5x
Price/Sales 7.4x
Price/Book 6.1x
Price/Cash Flow 15.2x
TEV/Sales 4.2x
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