NYSE:SKT

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Tanger Factory Outlet Centers

Market Cap

US$1.8b

Last Updated

2021/07/31 05:38 UTC

Data Sources

Company Financials +

Executive Summary

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. More Details


Snowflake Analysis

Average dividend payer with moderate growth potential.


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

Stable Share Price: SKT is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: SKT's weekly volatility (7%) has been stable over the past year.


Market Performance


7 Day Return

-3.0%

SKT

0.1%

US REITs

-0.5%

US Market


1 Year Return

167.0%

SKT

30.6%

US REITs

35.9%

US Market

Return vs Industry: SKT exceeded the US REITs industry which returned 30.6% over the past year.

Return vs Market: SKT exceeded the US Market which returned 35.9% over the past year.


Shareholder returns

SKTIndustryMarket
7 Day-3.0%0.1%-0.5%
30 Day-11.1%4.2%0.3%
90 Day-1.6%7.3%3.1%
1 Year175.1%167.0%34.9%30.6%38.0%35.9%
3 Year-14.1%-29.3%44.5%28.3%62.9%52.7%
5 Year-42.9%-57.5%52.8%23.3%121.7%97.3%

Long-Term 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?

46.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SKT ($17.17) is trading below our estimate of fair value ($32.03)

Significantly Below Fair Value: SKT is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SKT is unprofitable, so we can't compare its PE Ratio to the US REITs industry average.

PE vs Market: SKT is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SKT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: SKT is overvalued based on its PB Ratio (3.8x) compared to the US REITs industry average (1.9x).


Future Growth

How is Tanger Factory Outlet Centers forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

117.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SKT is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).

Earnings vs Market: SKT is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: SKT's is expected to become profitable in the next 3 years.

Revenue vs Market: SKT's revenue is expected to decline over the next 3 years (-3.2% per year).

High Growth Revenue: SKT's revenue is forecast to decline over the next 3 years (-3.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if SKT's Return on Equity is forecast to be high in 3 years time


Past Performance

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

-52.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SKT is currently unprofitable.

Growing Profit Margin: SKT is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: SKT is unprofitable, and losses have increased over the past 5 years at a rate of 52.3% per year.

Accelerating Growth: Unable to compare SKT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SKT is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (-8.8%).


Return on Equity

High ROE: SKT has a negative Return on Equity (-1.15%), as it is currently unprofitable.


Financial Health

How is Tanger Factory Outlet Centers's financial position?


Financial Position Analysis

Short Term Liabilities: SKT's short term assets ($301.0M) exceed its short term liabilities ($119.5M).

Long Term Liabilities: SKT's short term assets ($301.0M) do not cover its long term liabilities ($1.7B).


Debt to Equity History and Analysis

Debt Level: SKT's debt to equity ratio (318.6%) is considered high.

Reducing Debt: SKT's debt to equity ratio has increased from 240.1% to 318.6% over the past 5 years.

Debt Coverage: SKT's debt is not well covered by operating cash flow (11%).

Interest Coverage: SKT's interest payments on its debt are not well covered by EBIT (1.4x coverage).


Balance Sheet


Dividend

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

4.14%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SKT's dividend (4.14%) is higher than the bottom 25% of dividend payers in the US market (1.31%).

High Dividend: SKT's dividend (4.14%) is in the top 25% of dividend payers in the US market (3.54%)


Stability and Growth of Payments

Stable Dividend: SKT's dividend payments have been volatile in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (35.1%), SKT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SKT's dividends in 3 years are forecast to be covered by earnings (54% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.2yrs

Average management tenure


CEO

Steve Yalof (58 yo)

0.50

Tenure

US$5,798,705

Compensation

Mr. Stephen J. Yalof, also known as Steve, serves as Chief Executive Officer at Tanger Factory Outlet Centers, Inc. since January 1, 2021, serves as its President since April 10, 2020 and served as its Chi...


CEO Compensation Analysis

Compensation vs Market: Steve's total compensation ($USD5.80M) is above average for companies of similar size in the US market ($USD3.66M).

Compensation vs Earnings: Insufficient data to compare Steve's compensation with company performance.


Leadership Team

Experienced Management: SKT's management team is seasoned and experienced (5.2 years average tenure).


Board Members

Experienced Board: SKT's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 7.3%.


Top Shareholders

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$1.816b
  • Market Cap: US$1.731b
  • Shares outstanding: 105.60m
  • Website: https://www.tangeroutlets.com

Number of Employees


Location

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

Listings


Biography

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger's operating p...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/07/31 05:38
End of Day Share Price2021/07/30 00:00
Earnings2021/03/31
Annual Earnings2020/12/31


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.