NYSE:SKT

Stock Analysis Report

Tanger Factory Outlet Centers

Executive Summary

Tanger Factory Outlet Centers, Inc. (NYSE: SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that presently operates and owns, or has an ownership interest in, a portfolio of 39 upscale outlet shopping centers.

Snowflake

Fundamentals

6 star dividend payer with acceptable track record.


Similar Companies

Share Price & News

How has Tanger Factory Outlet Centers's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

11.5%

SKT

0.9%

US REITs

0.07%

US Market


1 Year Return

-18.9%

SKT

21.8%

US REITs

8.9%

US Market

Return vs Industry: SKT underperformed the US REITs industry which returned 21.8% over the past year.

Return vs Market: SKT underperformed the US Market which returned 8.9% over the past year.


Shareholder returns

SKTIndustryMarket
7 Day11.5%0.9%0.07%
30 Day11.6%2.2%-0.3%
90 Day5.2%7.9%-1.6%
1 Year-12.9%-18.9%27.0%21.8%11.3%8.9%
3 Year-42.8%-51.9%37.5%20.2%46.3%36.8%
5 Year-36.9%-50.2%65.5%30.4%62.1%44.3%

Price Volatility Vs. Market

How volatile is Tanger Factory Outlet Centers's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Tanger Factory Outlet Centers undervalued compared to its fair value and its price relative to the market?

22.53x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate SKT's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate SKT's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: SKT is good value based on its PE Ratio (22.5x) compared to the REITs industry average (37.3x).

PE vs Market: SKT is poor value based on its PE Ratio (22.5x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: SKT's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: SKT is overvalued based on its PB Ratio (3.3x) compared to the US REITs industry average (2.1x).


Next Steps

Future Growth

How is Tanger Factory Outlet Centers forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-13.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SKT's earnings are forecast to decline over the next 3 years (-13.8% per year).

Earnings vs Market: SKT's earnings are forecast to decline over the next 3 years (-13.8% per year).

High Growth Earnings: SKT's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if SKT's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if SKT's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SKT's Return on Equity is forecast to be high in 3 years time (20.5%)


Next Steps

Past Performance

How has Tanger Factory Outlet Centers performed over the past 5 years?

-11.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SKT's earnings have declined by -11.1% per year over the past 5 years.

Accelerating Growth: SKT's earnings growth over the past year (19.1%) exceeds its 5-year average (-11.1% per year).

Earnings vs Industry: SKT earnings growth over the past year (19.1%) exceeded the REITs industry 16.9%.


Return on Equity

High ROE: SKT's Return on Equity (15.1%) is considered low.


Return on Assets

ROA vs Industry: SKT has a higher Return on Assets than the REITs industry average last year.


Return on Capital Employed

ROCE Improving: SKT's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Tanger Factory Outlet Centers's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: SKT has a high level of physical assets or inventory.

Debt Coverage by Assets: SKT's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: SKT's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if SKT has a sufficient allowance for bad loans.

Low Risk Liabilities: SKT reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if SKT has an acceptable proportion of non-loan assets held.

Low Risk Deposits: SKT has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if SKT has an appropriate level of bad loans.


Next Steps

Dividend

What is Tanger Factory Outlet Centers's current dividend yield, its reliability and sustainability?

8.09%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Tanger Factory Outlet Centers before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company8.1%marketbottom25%1.4%markettop25%3.7%industryaverage3.6%forecastin3Years8.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: SKT's dividend (8.1%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: SKT's dividend (8.1%) is in the top 25% of dividend payers in the US market (3.68%)

Stable Dividend: SKT's dividends per share have been stable in the past 10 years.

Growing Dividend: SKT's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (56.9%), SKT's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SKT's dividends in 3 years are forecast to be thoroughly covered by earnings (0.7% payout ratio).


Next Steps

Management

What is the CEO of Tanger Factory Outlet Centers's salary, the management and board of directors tenure and is there insider trading?

7.8yrs

Average management tenure


CEO

Steve Tanger (70yo)

10.8yrs

Tenure

US$6,970,297

Compensation

Mr. Steven B. Tanger, also known as Steve, serves as a Director of Tanger Factory Outlet Centers, Inc., one of the largest owners and operators of outlet centers in the U.S. and Canada that is publicly tra ...


CEO Compensation Analysis

Compensation vs. Market: Steve's total compensation ($USD6.97M) is above average for companies of similar size in the US market ($USD4.07M).

Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.


Management Age and Tenure

7.8yrs

Average Tenure

57.5yo

Average Age

Experienced Management: SKT's management team is seasoned and experienced (7.8 years average tenure).


Board Age and Tenure

10.0yrs

Average Tenure

67yo

Average Age

Experienced Board: SKT's board of directors are seasoned and experienced ( 10 years average tenure).


Insider Trading

Insider Buying: SKT insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$144,09021 Aug 19
David Henry
EntityIndividual
Role
Chairman of the Board
Non-Executive Chair of the Board
Shares10,000
Max PriceUS$14.41
BuyUS$144,76020 Aug 19
Steven Tanger
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares10,000
Max PriceUS$14.48
BuyUS$102,34020 Aug 19
Thomas Reddin
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares7,000
Max PriceUS$14.62
SellUS$124,22428 May 19
Carrie Warren
EntityIndividual
Role
Head of Marketing
Senior VP & Chief Marketing Officer
Shares6,878
Max PriceUS$18.06
SellUS$55,93216 May 19
Gareth Taylor
EntityIndividual
Role
Chief Legal Officer
Executive VP
Shares3,000
Max PriceUS$18.64
SellUS$18,71016 May 19
Thomas Guerrieri
EntityIndividual
Role
Chief Accounting Officer
VP, Chief Accounting Officer & Controller
Shares1,000
Max PriceUS$18.71
SellUS$229,99814 May 19
Virginia Summerell
EntityIndividual
Shares12,604
Max PriceUS$18.25
SellUS$144,64814 May 19
Virginia Summerell
EntityIndividual
Shares8,000
Max PriceUS$18.08
SellUS$37,24430 Nov 18
Carrie Warren
EntityIndividual
Role
Head of Marketing
Senior VP & Chief Marketing Officer
Shares1,596
Max PriceUS$23.34
SellUS$83,86930 Nov 18
Charles Worsham
EntityIndividual
Shares3,550
Max PriceUS$23.63
SellUS$58,15327 Nov 18
Gareth Taylor
EntityIndividual
Role
Chief Legal Officer
Executive VP
Shares2,500
Max PriceUS$23.26
SellUS$203,09113 Nov 18
Lisa Morrison
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Leasing
Shares8,500
Max PriceUS$23.89

Ownership Breakdown


Management Team

  • Steve Tanger (70yo)

    CEO & Director

    • Tenure: 10.8yrs
    • Compensation: US$6.97m
  • Carrie Warren (56yo)

    Senior VP & Chief Marketing Officer

    • Tenure: 7.8yrs
    • Compensation: US$370.07k
  • Lisa Morrison (59yo)

    Executive Vice President of Leasing

    • Tenure: 18.4yrs
    • Compensation: US$981.49k
  • Jim Williams (54yo)

    Executive VP & CFO

    • Tenure: 3.4yrs
    • Compensation: US$1.29m
  • Mary Williams

    Vice President of Human Resources

    • Tenure: 12.4yrs
  • Tom Guerrieri (46yo)

    VP, Chief Accounting Officer & Controller

    • Tenure: 2.4yrs
  • Tom McDonough (61yo)

    President & COO

    • Tenure: 2.4yrs
    • Compensation: US$3.22m
  • Gareth Taylor

    Executive VP

    • Tenure: 7.8yrs
    • Compensation: US$1.84m
  • Quentin Pell

    Vice President of Corporate Communications & Enterprise Risk Management

    • Tenure: 0yrs
  • Cyndi Holt

    Vice President of Investor Relations

    • Tenure: 0yrs

Board Members

  • Tom Reddin (58yo)

    Independent Director

    • Tenure: 9.3yrs
    • Compensation: US$289.42k
  • Allan Schuman (84yo)

    Independent Director

    • Tenure: 15.2yrs
    • Compensation: US$251.92k
  • Steve Tanger (70yo)

    CEO & Director

    • Tenure: 10.8yrs
    • Compensation: US$6.97m
  • William Benton (73yo)

    Independent Director

    • Tenure: 26.3yrs
    • Compensation: US$239.42k
  • Jeffrey Citrin (61yo)

    Independent Director

    • Tenure: 5.3yrs
    • Compensation: US$264.42k
  • Tom Robinson (71yo)

    Independent Director

    • Tenure: 25.8yrs
    • Compensation: US$239.42k
  • Dave Henry (70yo)

    Non-Executive Chair of the Board

    • Tenure: 0.4yrs
    • Compensation: US$251.92k
  • Bridget Ryan-Berman (58yo)

    Independent Director

    • Tenure: 10.8yrs
    • Compensation: US$254.42k
  • Susan Skerritt (64yo)

    Independent Director

    • Tenure: 1.3yrs
    • Compensation: US$25.27k
  • Luis Ubiñas (56yo)

    Director

    • Tenure: 0.3yrs

Company Information

Tanger Factory Outlet Centers, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tanger Factory Outlet Centers, Inc.
  • Ticker: SKT
  • Exchange: NYSE
  • Founded: 1981
  • Industry: Retail REITs
  • Sector: Real Estate
  • Implied Market Cap: US$1.657b
  • Market Cap: US$1.628b
  • Shares outstanding: 97.78m
  • Website: https://www.tangeroutlet.com

Number of Employees


Location

  • Tanger Factory Outlet Centers, Inc.
  • 3200 Northline Avenue
  • Suite 360
  • Greensboro
  • North Carolina
  • 27408
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SKTNYSE (New York Stock Exchange)YesCommon SharesUSUSDMay 1993
T6ODB (Deutsche Boerse AG)YesCommon SharesDEEURMay 1993
0LD4LSE (London Stock Exchange)YesCommon SharesGBUSDMay 1993

Biography

Tanger Factory Outlet Centers, Inc. (NYSE: SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that presently operates and owns, or has an ownership interest in, a portfolio of 39 u ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 23:43
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.