Tanger Inc. (NYSE:SKT – Get Free Report) announced a quarterly dividend on Wednesday, April 10th, Zacks reports. Shareholders of record on Tuesday, April 30th will be paid a dividend of 0.275 per share by the real estate investment trust on Wednesday, May 15th. This represents a $1.10 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Monday, April 29th. This is an increase from Tanger’s previous quarterly dividend of $0.26.
Tanger has increased its dividend by an average of 10.8% per year over the last three years and has raised its dividend every year for the last 1 years. Tanger has a dividend payout ratio of 123.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Tanger to earn $2.17 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 50.7%.
Tanger Price Performance
Shares of Tanger stock opened at $28.88 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 2.43. The company’s 50-day moving average price is $28.46 and its two-hundred day moving average price is $26.81. Tanger has a 52 week low of $18.00 and a 52 week high of $29.98. The stock has a market cap of $3.15 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 3.62 and a beta of 1.83.
Analysts Set New Price Targets
View Our Latest Analysis on SKT
About Tanger
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.
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