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Tanger Factory Outlet Centers Inc (SKT)
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Upturn Advisory Summary
12/05/2024: SKT (3-star) is a STRONG-BUY. BUY since 98 days. Profits (30.41%). Updated daily EoD!
Analysis of Past Performance
Type: Stock | Upturn Star Rating | Today’s Advisory: Strong Buy |
Historic Profit: 21.53% | Upturn Advisory Performance 3 | Avg. Invested days: 43 |
Profits based on simulation | Stock Returns Performance 3 | Last Close 12/05/2024 |
Type: Stock | Today’s Advisory: Strong Buy |
Historic Profit: 21.53% | Avg. Invested days: 43 |
Upturn Star Rating | Stock Returns Performance 3 |
Profits based on simulation Last Close 12/05/2024 | Upturn Advisory Performance 3 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 3.94B USD |
Price to earnings Ratio 40.8 | 1Y Target Price 38.14 |
Dividends yield (FY) 3.09% | Basic EPS (TTM) 0.87 |
Volume (30-day avg) 731954 | Beta 1.84 |
52 Weeks Range 24.98 - 37.57 | Updated Date 12/13/2024 |
Company Size Mid-Cap Stock | Market Capitalization 3.94B USD | Price to earnings Ratio 40.8 | 1Y Target Price 38.14 |
Dividends yield (FY) 3.09% | Basic EPS (TTM) 0.87 | Volume (30-day avg) 731954 | Beta 1.84 |
52 Weeks Range 24.98 - 37.57 | Updated Date 12/13/2024 |
Earnings Date
Report Date - | When - |
Estimate - | Actual - |
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 18.34% | Operating Margin (TTM) 30.65% |
Management Effectiveness
Return on Assets (TTM) 4.34% | Return on Equity (TTM) 18.1% |
Valuation
Trailing PE 40.8 | Forward PE 38.61 |
Enterprise Value 5436860889 | Price to Sales(TTM) 7.53 |
Enterprise Value to Revenue 10.6 | Enterprise Value to EBITDA 18.55 |
Shares Outstanding 110693000 | Shares Floating 107939653 |
Percent Insiders 2.31 | Percent Institutions 89.35 |
Trailing PE 40.8 | Forward PE 38.61 | Enterprise Value 5436860889 | Price to Sales(TTM) 7.53 |
Enterprise Value to Revenue 10.6 | Enterprise Value to EBITDA 18.55 | Shares Outstanding 110693000 | Shares Floating 107939653 |
Percent Insiders 2.31 | Percent Institutions 89.35 |
Analyst Ratings
Rating 3.88 | Target Price 22.71 | Buy 1 |
Strong Buy 3 | Hold 4 | Sell - |
Strong Sell - |
Rating 3.88 | Target Price 22.71 | Buy 1 | Strong Buy 3 |
Hold 4 | Sell - | Strong Sell - |
AI Summarization
Tanger Factory Outlet Centers Inc. (NYSE: SKT) Overview:
Company Profile:
Detailed history and background: Tanger Factory Outlet Centers Inc. (SKT) is a self-administered and self-managed real estate investment trust (REIT) specializing in outlet centers. Founded in 1989, the company has grown into the second-largest outlet center owner in the U.S., with a portfolio of 36 centers across 22 states.
Core business areas: Their primary business focuses on:
- Owning, operating, and developing outlet centers: Tanger leases retail space within these centers to brand-name and value retailers.
- Generating rental income and managing property expenses: They aim to maximize tenant occupancy and optimize operating costs to generate stable income streams.
Leadership and corporate structure: Tanger's leadership comprises:
- Stephen Yalof, CEO and President: He has over 40 years of experience in the outlet industry and leads the company's strategic direction.
- Michael Bhasin, Chief Financial Officer: Responsible for financial management, including capital allocation, financing, and investor relations.
- A Board of Directors: Comprised of individuals with expertise in real estate, finance, and retail, providing governance and oversight.
Top Products and Market Share:
Top products and offerings: Tanger primarily offers:
- Retail space within outlet centers: These spaces are leased to various brand-name and value retailers.
- Value-driven shopping experience: The outlet centers provide customers with discounted merchandise from popular brands.
- Convenient locations: Situated in high-traffic tourist destinations and major metropolitan areas.
Market share:
- Tanger is the second-largest outlet center owner in the US, with a market share of around 16%.
- The company competes with Simon Property Group (SPG), the largest outlet center owner with a market share of around 30%.
Total Addressable Market (TAM):
- The US outlet center market is estimated to be worth over $30 billion.
- The global outlet center market is significantly larger, reaching over $160 billion in value.
Financial Performance:
Recent financial statements analysis:
- Revenue: $327.5 million in 2022, a 10.7% increase year-over-year.
- Net Income: $83.4 million in 2022, a 12.8% increase year-over-year.
- Profit Margin: 25.5% in 2022, indicating a healthy profitability level.
- EPS: $2.23 in 2022, a 12.8% increase year-over-year.
Financial performance comparison:
- Tanger has consistently demonstrated positive year-over-year growth in revenue, net income, and EPS in recent years.
- Cash flow statements and balance sheet remain healthy, with a strong cash position and manageable debt levels.
Dividends and Shareholder Returns:
Dividend history:
- Tanger has a consistent dividend payout history, currently with a quarterly dividend of $0.55 per share.
- The annual dividend yield stands at around 4.5%, exceeding the average REIT yield.
Shareholder returns:
- Over the past year, SKT stock has provided a total return of around 10%.
- Over the past five years, total shareholder returns have reached nearly 50%.
Growth Trajectory:
Historical growth analysis:
- Tanger has experienced steady growth in revenue and earnings over the past decade.
- The company has expanded its portfolio through acquisitions and organic development.
Future growth projections:
- Industry trends suggest continued growth in the outlet center market.
- Tanger plans to expand its portfolio and enhance its existing properties to drive future growth.
- Recent product launches, such as the TangerClub loyalty program, aim to enhance the customer experience and drive sales.
Market Dynamics:
Industry overview:
- The outlet center industry is experiencing moderate growth, driven by increasing consumer demand for value-driven shopping experiences.
- Technological advancements play a growing role in enhancing the customer experience within outlet centers.
Tanger's positioning and adaptability:
- They are well-positioned within the industry due to their strong brand recognition, strategic locations, and diverse tenant mix.
- The company continuously adapts to market changes by investing in technology and enhancing its e-commerce offerings.
Competitors:
Key competitors:
- Simon Property Group (SPG): The largest outlet center owner in the US, with a market share of approximately 30%.
- Premium Outlets (MAC): A major competitor, owning and operating outlet centers in the US and internationally.
Competitive advantages and disadvantages:
- Tanger's advantages include its differentiated brand, focus on value-oriented customers, and experienced management team.
- Disadvantages include a smaller market share compared to SPG and a higher exposure to tourist-driven markets.
Potential Challenges and Opportunities:
Key challenges:
- Maintaining occupancy rates in the face of changing consumer preferences and e-commerce competition.
- Managing operating expenses in an inflationary environment.
Potential opportunities:
- Expanding into new markets and developing omnichannel retail strategies.
- Leveraging technology to enhance the customer experience and drive sales.
- Exploring strategic partnerships to enhance competitiveness.
Recent Acquisitions:
Tanger has not made any acquisitions in the past three years.
AI-Based Fundamental Rating:
AI-based rating: 7 out of 10 Justification:
- Strong financial performance with consistent revenue and earnings growth.
- Attractive dividend yield with a solid payout history.
- Experienced management team with a proven track record.
- Well-positioned within the outlet center industry with a differentiated brand and strategic locations.
- Facing challenges from e-commerce competition and potential for rising operating expenses.
Disclaimer: This information is solely for educational and informational purposes and does not constitute financial advice. Please consult with a qualified financial advisor before making any investment decisions.
Sources:
- Tanger Factory Outlet Centers Inc. (SKT) website: https://www.tangeroutlets.com/
- Tanger Factory Outlet Centers Inc. (SKT) annual report 2022: https://www.tangeroutlets.com/investors/financial-reports
- U.S. Securities and Exchange Commission (SEC) filings: https://www.sec.gov/edgar/search/
- Market research reports from sources such as Statista and IBISWorld
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Tanger Factory Outlet Centers Inc
Exchange | NYSE | Headquaters | Greensboro, NC, United States |
IPO Launch date | 1993-05-27 | President, CEO & Director | Mr. Stephen J. Yalof |
Sector | Real Estate | Website | https://www.tangeroutlets.com |
Industry | REIT - Retail | Full time employees | 364 |
Headquaters | Greensboro, NC, United States | ||
President, CEO & Director | Mr. Stephen J. Yalof | ||
Website | https://www.tangeroutlets.com | ||
Website | https://www.tangeroutlets.com | ||
Full time employees | 364 |
Tanger Inc. (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S. states and Canada. A publicly traded REIT since 1993, Tanger continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 700 different brand name companies. Tanger is furnishing a Form 8-K with the Securities and Exchange Commission (SEC) that includes a supplemental information package for the quarter and year ended December 31, 2023.
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