Tanger Inc. (NYSE:SKT) Shares Set to Pay Quarterly Dividend of $0.31

Tanger Inc. (NYSE:SKT) announced a quarterly dividend on Thursday, October 15th. Investors of record on Friday, October 30th will be given a dividend of $0.3125 per share by the real estate investment trust on Friday, November 13th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, October 30th.

Tanger has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Tanger has a payout ratio of 127.6% 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 research analysts expect Tanger to earn $2.62 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 47.7%.

Tanger Price Performance

Shares of NYSE:SKT opened at $35.25 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 1.68 and a beta of 1.12. The business’s 50 day simple moving average is $36.59 and its 200-day simple moving average is $37.51. Tanger has a 12 month low of $31.13 and a 12 month high of $42.53.

Tanger (NYSE:SKT) last released its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $156.39 million for the quarter, compared to analyst estimates of $142.58 million. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 earnings per share. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. As a group, equities analysts forecast that Tanger will post 2.50 earnings per share for the current fiscal year.

About Tanger

Tanger Inc is a real estate investment trust that owns, operates and develops open-air outlet shopping centers. The company leases retail space to a broad range of brand-name and designer retailers, including apparel, footwear, accessories, home goods and other consumer-oriented businesses.

Founded in 1981 by Stanley K. Tanger, the company helped establish the outlet-center format in the United States. Tanger’s properties are designed to serve both local shoppers and tourists, with tenants offering merchandise through outlet and value-oriented retail concepts.

Tanger serves markets across the United States and Canada through a portfolio of outlet centers located near major metropolitan areas, tourist destinations and highway corridors.