Tanger Factory Outlet Centers, Inc. (SKT) is an interesting player in the Financial space, with a focus on REIT – Retail. The stock has been active on the tape, currently trading at $26.47, up from yesterday’s close by 1.07%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.
Money managers are always interested in a company that can find the right recipe of fundamental data because it reflects something important going on underneath the surface. Tanger Factory Outlet Centers, Inc. (SKT) currently trades with a market capitalization of $2.53 Billion. That value represents a market adjusting for revenues that have been growing by 7.44 % on a quarterly year/year basis as of the company’s last quarterly report.
The balance sheet health of any company plays a key role in its ability to meet its obligations and maintain the faith of its investment base. For SKT, the company currently has $7.23 Million of cash on the books, which is offset by $ current liabilities. You can get a sense of how sustainable that is by a levered free cash flow of $136.01 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of $0.6 on a per share basis this quarter. Perhaps, that suggests something about why 85.55% of the outstanding share supply is held by institutional investors.
It’s important to check the technicals to get a sense of how SKT has been acting. Looking at the stock’s movement on the chart, Tanger Factory Outlet Centers, Inc. recorded a 52-week high of $41.25. It is now trading 14.78% off that level. The stock is trading $26.31 its 50-day moving average by -0.16%. The stock carved out a 52-week low down at $24.71.
In recent action, Tanger Factory Outlet Centers, Inc. (SKT) has made a move of +2.00% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 47.69, and it’s gotten there by action that has been less volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 15.04% with $95.44 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of SKT.