Tanger Factory Outlet Centers: Dividend Cut Inevitable, What To Do Now [Seeking Alpha]
Tanger Inc. (SKT)
Last tanger inc. earnings: 10/30 04:15 pm
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US:NYSE Investor Relations:
investors.tangeroutlet.com
Company Research
Source: Seeking Alpha
SummarySKT was guiding for -7.5% same-store NOI growth prior to COVID-19.Based on even conservative estimates, it appears that SKT will breach unsecured debt covenants.A dividend cut looks inevitable - equity raises may also be on the table.I explain why in spite of my pessimistic forward outlook, I am neutral on SKT.I have been a long time bear on Tanger Factory Outlet Centers, Inc. (turned bearishIt Wasn’t A Buy Prior To COVID-19SKT closed out 2019 with pressured but solid results. Re-leasing spreads declined 1.3% for the year, a slight improvement from the -1.4% spread a year earlier. Debt to EBITDA stood at 5.7 times, and the dividend payout ratio with respect to funds available for distribution was 70%. It is understandable why many authors on this site rated it a buy when it traded around a 9% yield for much of 2019.I saw things differently. SKT’s average sales psf across its portfolio is low at $395 psf. We can see below that around 50% of the portfolio has average sales psf be
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SKT
News
- Tanger Earns Sustainability Certifications for Taking Steps to Address Climate Change and Well-Being Across its PortfolioBusiness Wire
- Tanger Inc. (NYSE: SKT) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $31.00 to $35.00. They now have a "neutral" rating on the stock.MarketBeat
- Tanger Inc. (NYSE: SKT) had its price target raised by analysts at Citigroup Inc. from $34.00 to $41.00. They now have a "buy" rating on the stock.MarketBeat
- Tanger Inc. (NYSE: SKT) was upgraded by analysts at Bank of America Co. from a "neutral" rating to a "buy" rating. They now have a $40.00 price target on the stock, up previously from $35.00.MarketBeat
- Tanger Inc. (NYSE: SKT) had its price target raised by analysts at Evercore ISI from $31.00 to $33.00. They now have an "in-line" rating on the stock.MarketBeat
SKT
Earnings
- 11/6/24 - Beat
SKT
Sec Filings
- 11/20/24 - Form 4
- 11/19/24 - Form 144
- 11/18/24 - Form 4
- SKT's page on the SEC website