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Last $31.42 USD
Change Today +0.24 / 0.77%
Volume 525.6K
SKT On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

tanger factory outlet center (SKT) Snapshot

Open
$31.40
Previous Close
$31.18
Day High
$31.49
Day Low
$31.08
52 Week High
01/23/15 - $40.80
52 Week Low
08/24/15 - $30.30
Market Cap
3.0B
Average Volume 10 Days
930.2K
EPS TTM
$1.18
Shares Outstanding
95.8M
EX-Date
07/28/15
P/E TM
26.6x
Dividend
$1.14
Dividend Yield
3.34%
Current Stock Chart for TANGER FACTORY OUTLET CENTER (SKT)

tanger factory outlet center (SKT) Related Businessweek News

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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.

289 Employees
Last Reported Date: 02/24/15
Founded in 1981

tanger factory outlet center (SKT) Top Compensated Officers

Chief Executive Officer, President and Direct...
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: $259.3K
Compensation as of Fiscal Year 2014.

tanger factory outlet center (SKT) Key Developments

Tanger Factory Outlet Centers Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year Ending December 31, 2015; Opens Tanger Outlet Center

Tanger Factory Outlet Centers Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. Net income available to common shareholders for the three months ended June 30, 2015 was $24.2 million, or $0.26 per diluted share, as compared to $18.4 million, or $0.20 per diluted share, for the three months ended June 30, 2014. Total revenues were $107.7 million against $102.2 million reported last year. Operating income was $36.9 million against $32.6 million reported last year. Income before equity in earnings of unconsolidated joint ventures was $23.3 million against $18.1 million reported last year. Funds from operations was $54.3 million against $47.1 million reported last year. Funds from operations available to common shareholders was $54.1 million or $0.54 per diluted share against $46.1 million or $0.47 per diluted share reported last year. Adjusted funds from operations was $54.1 million or $0.54 per diluted share against $46.1 million or $0.47 per diluted share reported last year. Net income available to common shareholders for the six months ended June 30, 2015, which was positively impacted by a $13.7 million gain on the sale of the company's 50% ownership interest in the Wisconsin Dells, Wisconsin joint venture, was $58.3 million, or $0.62 per diluted share, as compared to $32.6 million, or $0.35 per diluted share, for the six months ended June 30, 2014. Total revenues were $213.7 million against $205 million reported last year. Operating income was $69.8 million against $61 million reported last year. Income before equity in earnings of unconsolidated joint ventures was $57.2 million against $31.6 million reported last year. Funds from operations was $104.7 million against $90.8 million reported last year. Funds from operations available to common shareholders was $103.9 million or $1.04 per diluted share against $88.9 million or $0.90 per diluted share reported last year. Adjusted funds from operations was $103.9 million or $1.04 per diluted share against $90.5 million or $0.92 per diluted share reported last year. For the year ending December 31, 2015, estimated diluted net income per share are in the range of $1.21 to $1.27. Estimated diluted FFO per share are in the range of $2.16 to $2.22. On July 31, 2015, the newest Tanger Outlet Center opened in the Grand Rapids, Michigan market. The 350,000 square foot center, which features local architectural details and 80 brand name and designer outlets, was 89% leased at opening. The shopper turnout for the opening required the company to utilize nearby off-site overflow parking lots to accommodate the high volume of shopper traffic. Construction is well underway in the Memphis, Tennessee market in Southaven, Mississippi, the site of the next Tanger Outlet Center that the company expects to deliver in November 2015. On June 25, 2015, Tanger and its joint venture partner commenced construction of a new Tanger Outlet Center in the Columbus, Ohio market. The company currently expects to complete construction in time to open the center during the second quarter of 2016.

Tanger Factory Outlet Centers, Inc. Declares Quarterly Dividend for the Second Quarter Ending June 30, 2015, Payable on August 14, 2015

Tanger Factory Outlet Centers Inc. announced that its Board of Directors declared a quarterly dividend of $0.285 per share for the second quarter ending June 30, 2015. A cash dividend of $0.285 per share will be payable on August 14, 2015 to holders of record on July 30, 2015.

Tanger Outlets Grand Rapids to Celebrate Grand Opening on July 31

Tanger Factory Outlet Centers Inc. announced that Tanger Outlets Grand Rapids will celebrate the new center's Grand Opening on July 31 kicking off at 10:00 a.m. with an official ribbon cutting hosted by Steven B. Tanger, President and Chief Operating Officer of Tanger Outlets, Drew and Jonathan Scott from the hit show, Property Brothers, as well as state and local officials. As part of July 31 Grand Opening celebrations, Tanger will offer shoppers a chance to meet real estate experts Drew and Jonathan Scott as well as attend an exclusive workshop where the brothers will share design-on-a-budget advice. The Scott brothers have invested nearly 15 years in the real estate industry and have a knack for finding down-and-out fixer-uppers and turning them into perfect properties for clients on their shows and with this opening, Tanger visitors will have a chance to meet them and hear the duo live and in person.

 

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Weingarten Realty Investors $30.90 USD -0.09
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