Tanger Factory Outlet Centers Stock Downgraded (SKT)
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- TANGER FACTORY OUTLET CTRS reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. This trend suggests that the performance of the business is improving. During the past fiscal year, TANGER FACTORY OUTLET CTRS increased its bottom line by earning $0.56 versus $0.51 in the prior year. This year, the market expects an improvement in earnings ($0.78 versus $0.56).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Real Estate Investment Trusts (REITs) industry. The net income increased by 89.9% when compared to the same quarter one year prior, rising from $8.13 million to $15.44 million.
- The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Real Estate Investment Trusts (REITs) industry and the overall market on the basis of return on equity, TANGER FACTORY OUTLET CTRS has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
- The gross profit margin for TANGER FACTORY OUTLET CTRS is currently lower than what is desirable, coming in at 32.60%. Regardless of SKT's low profit margin, it has managed to increase from the same period last year. Despite the mixed results of the gross profit margin, SKT's net profit margin of 17.29% is significantly lower than the industry average.
- Net operating cash flow has decreased to $35.29 million or 17.15% when compared to the same quarter last year. In conjunction, when comparing current results to the industry average, TANGER FACTORY OUTLET CTRS has marginally lower results.
-- Written by a member of TheStreet Ratings Staff
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