Tanger Factory Outlet Centers(NYSE:SKT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $111.33M. Analysts estimated a revenue of $107.82M. Earnings per share were $0.59. Analysts had estimated an EPS of $0.56.
Tanger Factory Outlet Centers (SKT) made into the market gainers list on Fridays trading session with the shares advancing 0.72% or 0.3 points. Due to strong positive momentum, the stock ended at $41.74, which is also near the day’s high of $41.85. The stock began the session at $41.4 and the volume stood at 7,89,818 shares. The 52-week high of the shares is $41.85 and the 52 week low is $29.455. The company has a current market capitalization of $4,012 M and it has 9,61,27,107 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On May 11, 2016, Chad Perry (EVP,General Counsel,Secretary) sold 1,000 shares at $36.53 per share price.Also, On May 9, 2016, Virginia R Summerell (Senior VP, Treasurer) sold 4,216 shares at $36.10 per share price.On May 9, 2016, Carrie A Geldner (SVP, Chief Marketing Officer) sold 1,500 shares at $35.71 per share price, according to the Form-4 filing with the securities and exchange commission.
Tanger Factory Outlet Centers Inc. is a fully-integrated self-administered and self-managed real estate investment trust (REIT). The Company focuses on developing acquiring owning operating and managing outlet shopping centers. The Company has interests in nine outlet centers totaling approximately 2.6 million square feet including four outlet centers in Canada. The outlet centers and other assets are held by and all of the Company’s operations are conducted by Tanger Properties Limited Partnership and subsidiaries. The Company owns the units of partnership interest issued by the Operating Partnership through its two wholly owned subsidiaries Tanger GP Trust and Tanger LP Trust. Tanger GP Trust controls the Operating Partnership as its sole general partner. Tanger LP Trust holds a limited partnership interest. Its outlet centers range in size from 24619 to 749074 square feet and are located at least ten miles from department stores and manufacturer-owned retail stores.