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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.01
SKT's Cash to Debt is ranked lower than
57% of the 795 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.05 vs. SKT: 0.01 )
SKT' s 10-Year Cash to Debt Range
Min: 0   Max: 0.06
Current: 0.01

0
0.06
Equity to Asset 0.24
SKT's Equity to Asset is ranked higher than
51% of the 821 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.48 vs. SKT: 0.24 )
SKT' s 10-Year Equity to Asset Range
Min: 0.15   Max: 0.4
Current: 0.24

0.15
0.4
Interest Coverage 2.48
SKT's Interest Coverage is ranked higher than
71% of the 671 Companies
in the Global REIT - Retail industry.

( Industry Median: 2.60 vs. SKT: 2.48 )
SKT' s 10-Year Interest Coverage Range
Min: 1.86   Max: 2.48
Current: 2.48

1.86
2.48
F-Score: 5
Z-Score: 1.48
M-Score: -2.57
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 9/10

vs
industry
vs
history
Operating margin (%) 31.71
SKT's Operating margin (%) is ranked higher than
67% of the 832 Companies
in the Global REIT - Retail industry.

( Industry Median: 40.93 vs. SKT: 31.71 )
SKT' s 10-Year Operating margin (%) Range
Min: 25.85   Max: 40.36
Current: 31.71

25.85
40.36
Net-margin (%) 18.77
SKT's Net-margin (%) is ranked higher than
64% of the 833 Companies
in the Global REIT - Retail industry.

( Industry Median: 32.79 vs. SKT: 18.77 )
SKT' s 10-Year Net-margin (%) Range
Min: 2.51   Max: 27.94
Current: 18.77

2.51
27.94
ROE (%) 15.07
SKT's ROE (%) is ranked higher than
91% of the 839 Companies
in the Global REIT - Retail industry.

( Industry Median: 6.58 vs. SKT: 15.07 )
SKT' s 10-Year ROE (%) Range
Min: 2.47   Max: 21.41
Current: 15.07

2.47
21.41
ROA (%) 3.83
SKT's ROA (%) is ranked higher than
79% of the 844 Companies
in the Global REIT - Retail industry.

( Industry Median: 2.93 vs. SKT: 3.83 )
SKT' s 10-Year ROA (%) Range
Min: 0.53   Max: 5.85
Current: 3.83

0.53
5.85
ROC (Joel Greenblatt) (%) 8.24
SKT's ROC (Joel Greenblatt) (%) is ranked higher than
77% of the 750 Companies
in the Global REIT - Retail industry.

( Industry Median: 6.06 vs. SKT: 8.24 )
SKT' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 4.61   Max: 9.91
Current: 8.24

4.61
9.91
Revenue Growth (%) 5.90
SKT's Revenue Growth (%) is ranked higher than
90% of the 649 Companies
in the Global REIT - Retail industry.

( Industry Median: -1.00 vs. SKT: 5.90 )
SKT' s 10-Year Revenue Growth (%) Range
Min: -18.1   Max: 27
Current: 5.9

-18.1
27
EBITDA Growth (%) 12.10
SKT's EBITDA Growth (%) is ranked higher than
86% of the 568 Companies
in the Global REIT - Retail industry.

( Industry Median: 2.10 vs. SKT: 12.10 )
SKT' s 10-Year EBITDA Growth (%) Range
Min: 0   Max: 18.9
Current: 12.1

0
18.9
EPS Growth (%) 52.70
SKT's EPS Growth (%) is ranked higher than
96% of the 476 Companies
in the Global REIT - Retail industry.

( Industry Median: -2.60 vs. SKT: 52.70 )
SKT' s 10-Year EPS Growth (%) Range
Min: -32.5   Max: 64.2
Current: 52.7

-32.5
64.2
» SKT's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q4 2013

SKT Guru Trades in Q4 2013

Steven Cohen 9,836 sh (New)
Chris Davis 488,169 sh (+8.04%)
Third Avenue Management 1,481,110 sh (+6.19%)
Jim Simons Sold Out
» More
Q1 2014

SKT Guru Trades in Q1 2014

Ron Baron 483,200 sh (New)
Chris Davis 572,455 sh (+17.27%)
Steven Cohen Sold Out
Third Avenue Management 1,475,470 sh (-0.38%)
» More
Q2 2014

SKT Guru Trades in Q2 2014

Jim Simons 7,600 sh (New)
Chris Davis 574,012 sh (+0.27%)
Ron Baron 483,200 sh (unchged)
Third Avenue Management 1,452,448 sh (-1.56%)
» More
Q3 2014

SKT Guru Trades in Q3 2014

Jim Simons 276,900 sh (+3543.42%)
Third Avenue Management 2,458,721 sh (+69.28%)
Ron Baron 318,675 sh (-34.05%)
Chris Davis 352,864 sh (-38.53%)
» More
» Details

Insider Trades

Latest Guru Trades with SKT

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Third Avenue Management 2014-09-30 Add 69.28%0.7%$32.55 - $35.93 $ 36.586%2458721
Ron Baron 2014-09-30 Reduce -34.05%0.02%$32.55 - $35.93 $ 36.586%318675
Chris Davis 2014-09-30 Reduce -38.53%0.02%$32.55 - $35.93 $ 36.586%352864
Ron Baron 2014-03-31 New Buy0.07%$32.02 - $35.14 $ 36.588%483200
Third Avenue Management 2013-09-30 New Buy0.88%$30.14 - $35.61 $ 36.5812%1394811
Chris Davis 2013-09-30 New Buy0.04%$30.14 - $35.61 $ 36.5812%451832
Ken Heebner 2013-03-31 Sold Out 1.2%$34.2 - $36.47 $ 36.583%0
Ken Heebner 2012-12-31 Add 80.67%0.54%$30.97 - $34.43 $ 36.5813%1355000
Ken Heebner 2012-09-30 New Buy0.61%$31.88 - $33.94 $ 36.5812%750000
Ken Heebner 2012-03-31 Sold Out 0.92%$28.1 - $30.17 $ 36.5833%0
Ken Heebner 2011-12-31 Reduce -45.13%0.66%$24.73 - $29.82 $ 36.5832%1325000
Premium More recent guru trades are included for Premium Members only!!
Premium More recent guru trades are included for USA Subscribe Members only!!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Guru Investment Theses on Tanger Factory Outlet Centers Inc

Third Avenue Management Comments on Tanger Factory Outlet Centers - Sep 18, 2013

Tanger Factory Outlet Centers Tanger (SKT) is a U.S.-based real estate investment trust that owns andoperates43retailoutletcentersintheU.S. and Canada. Tanger has a leading position in outlet centers alongside Simon Property Group's Chelsea subsidiary (together they control 80% of the outlet malls in the U.S.). The outlet business has been extremely strong over the past few years, as rental rates and occupancy trends have remained strong due to the value orientation offered by the distribution channel. Tanger's centers have averaged97%occupancyover the past five years and rental rates have grown over 15% annually. Tanger has led the retail sector in internal and external growth, due to their low occupancy cost ratios and high demand from tenants. To put it in perspective, most luxury retailers state that the outlet distribution channel is among their most profitable, and have expressed an interest to continue to expand this channel. Tanger has one of the strongest balance sheets in the retail sector (approximately 30% net debt-to-assets). It is run by a conservative and incentivized management team and has strong development growth prospects, as it continues to capitalize on the trend of consumers and retailers shifting to the outlet channel.

From Third Avenue Management's semi-annual 2013 review.


Check out Third Avenue Management latest stock trades

Ratios

vs
industry
vs
history
P/E(ttm) 44.60
SKT's P/E(ttm) is ranked higher than
66% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 27.60 vs. SKT: 44.60 )
SKT' s 10-Year P/E(ttm) Range
Min: 16.88   Max: 252.63
Current: 44.6

16.88
252.63
P/B 6.80
SKT's P/B is ranked lower than
51% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.25 vs. SKT: 6.80 )
SKT' s 10-Year P/B Range
Min: 2.56   Max: 8.58
Current: 6.8

2.56
8.58
P/S 8.20
SKT's P/S is ranked higher than
68% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 7.80 vs. SKT: 8.20 )
SKT' s 10-Year P/S Range
Min: 2.95   Max: 9.92
Current: 8.2

2.95
9.92
PFCF 34.60
SKT's PFCF is ranked higher than
88% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 9999.00 vs. SKT: 34.60 )
SKT' s 10-Year PFCF Range
Min: 9.45   Max: 499
Current: 34.6

9.45
499
EV-to-EBIT 37.63
SKT's EV-to-EBIT is ranked higher than
70% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 33.54 vs. SKT: 37.63 )
SKT' s 10-Year EV-to-EBIT Range
Min: 18.7   Max: 120.3
Current: 37.63

18.7
120.3
PEG 2.64
SKT's PEG is ranked higher than
91% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 9999.00 vs. SKT: 2.64 )
SKT' s 10-Year PEG Range
Min: 2.95   Max: 181.24
Current: 2.64

2.95
181.24
Shiller P/E 52.50
SKT's Shiller P/E is ranked higher than
84% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 9999.00 vs. SKT: 52.50 )
SKT' s 10-Year Shiller P/E Range
Min: 34.84   Max: 88.61
Current: 52.5

34.84
88.61
Current Ratio 0.14
SKT's Current Ratio is ranked lower than
53% of the 765 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.78 vs. SKT: 0.14 )
SKT' s 10-Year Current Ratio Range
Min: 0.01   Max: 0.34
Current: 0.14

0.01
0.34
Quick Ratio 0.14
SKT's Quick Ratio is ranked lower than
53% of the 765 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.73 vs. SKT: 0.14 )
SKT' s 10-Year Quick Ratio Range
Min: 0.01   Max: 0.34
Current: 0.14

0.01
0.34

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.60
SKT's Dividend Yield is ranked lower than
81% of the 823 Companies
in the Global REIT - Retail industry.

( Industry Median: 4.37 vs. SKT: 2.60 )
SKT' s 10-Year Dividend Yield Range
Min: 2.19   Max: 6.8
Current: 2.6

2.19
6.8
Dividend Payout 1.11
SKT's Dividend Payout is ranked higher than
76% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.32 vs. SKT: 1.11 )
SKT' s 10-Year Dividend Payout Range
Min: 0.4   Max: 15.2
Current: 1.11

0.4
15.2
Dividend growth (3y) 4.60
SKT's Dividend growth (3y) is ranked higher than
73% of the 506 Companies
in the Global REIT - Retail industry.

( Industry Median: 5.30 vs. SKT: 4.60 )
SKT' s 10-Year Dividend growth (3y) Range
Min: 0.4   Max: 6.5
Current: 4.6

0.4
6.5
Yield on cost (5-Year) 3.12
SKT's Yield on cost (5-Year) is ranked lower than
71% of the 826 Companies
in the Global REIT - Retail industry.

( Industry Median: 4.77 vs. SKT: 3.12 )
SKT' s 10-Year Yield on cost (5-Year) Range
Min: 2.63   Max: 8.15
Current: 3.12

2.63
8.15
Share Buyback Rate -5.40
SKT's Share Buyback Rate is ranked higher than
78% of the 611 Companies
in the Global REIT - Retail industry.

( Industry Median: -6.30 vs. SKT: -5.40 )
SKT' s 10-Year Share Buyback Rate Range
Min: 13.7   Max: -32.5
Current: -5.4

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 6.77
SKT's Price/Tangible Book is ranked higher than
52% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.35 vs. SKT: 6.77 )
SKT' s 10-Year Price/Tangible Book Range
Min: 1.23   Max: 8.39
Current: 6.77

1.23
8.39
Price/DCF (Projected) 3.78
SKT's Price/DCF (Projected) is ranked higher than
81% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 9999.00 vs. SKT: 3.78 )
SKT' s 10-Year Price/DCF (Projected) Range
Min: 2.68   Max: 11.78
Current: 3.78

2.68
11.78
Price/Median PS Value 1.43
SKT's Price/Median PS Value is ranked higher than
63% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.23 vs. SKT: 1.43 )
SKT' s 10-Year Price/Median PS Value Range
Min: 0.25   Max: 1.63
Current: 1.43

0.25
1.63
Price/Peter Lynch Fair Value 3.84
SKT's Price/Peter Lynch Fair Value is ranked higher than
91% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 9999.00 vs. SKT: 3.84 )
SKT' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.46   Max: 42.26
Current: 3.84

0.46
42.26
Price/Graham Number 3.57
SKT's Price/Graham Number is ranked higher than
60% of the 913 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.45 vs. SKT: 3.57 )
SKT' s 10-Year Price/Graham Number Range
Min: 0.67   Max: 4.24
Current: 3.57

0.67
4.24
Earnings Yield (Greenblatt) 2.70
SKT's Earnings Yield (Greenblatt) is ranked higher than
67% of the 817 Companies
in the Global REIT - Retail industry.

( Industry Median: 3.40 vs. SKT: 2.70 )
SKT' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.8   Max: 5.3
Current: 2.7

0.8
5.3
Forward Rate of Return (Yacktman) 12.40
SKT's Forward Rate of Return (Yacktman) is ranked higher than
90% of the 602 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.55 vs. SKT: 12.40 )
SKT' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -10.2   Max: 12.5
Current: 12.4

-10.2
12.5

Business Description

Industry: REITs » REIT - Retail
Compare:GGP, AKR, CLP, RIOCF, BTLCY » details
Traded in other countries:T6O.Germany
Tanger Factory Outlet Centers Inc is a North Carolina corporation formed in March 1993. The Company, along with its subsidiaries owns & operates outlet centers in the United States & Canada. It is a fully-integrated, self-administered & self-managed REIT, developing, acquiring, owning, & managing outlet shopping centers. The Company owns and operates approximately 37 outlet centers, with a total gross leasable area of approximately 11.5 million square feet. These outlet centers are 99% occupied and contains over 2,400 stores, representing approximately 400 store brands. It also had partial ownership interests in 7 outlet centers totaling approximately 1.7 million square feet, including 3 outlet centers in Canada. The Company competes with institutional pension funds, private equity investors, other REITs, small owners of outlet centers, specialty stores and others who are engaged in the acquisition, development or ownership of outlet centers and stores. The Company's operations are subject to various federal, state and local laws, ordinances and regulations.
» More Articles for SKT

Headlines

Articles On GuruFocus.com
9 CEOs Showing Confidence by Increasing Dividends Apr 14 2014 
Third Avenue Management Comments on Tanger Factory Outlet Centers Sep 18 2013 
6 Stocks Building Wealth Through Higher Dividends Apr 08 2013 
6 Stocks Delivering More Cash with Higher Dividends Apr 09 2012 
Guru Stocks Raising Dividends: SKT, PNC, NPBC, QRE, EBF Apr 09 2012 
An Analysis of 5 Key Market Indicators Feb 17 2012 
10 Dividend Contenders - Part XI May 06 2011 
6 Dividend Stocks Building Shareholder Returns Apr 11 2011 
Guru Stocks Raising Dividends: SKT, PNC, RELL, TJX, GOV Apr 11 2011 
Tanger Factory Outlet Centers Reports Operating Results (10-Q) Nov 04 2010 


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Tanger Prices $250 Million 3.75% Senior Notes Due 2024 Nov 12 2014
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Tanger Prices $250 Million 3.75% Senior Notes Due 2024 Nov 12 2014
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Tanger Announces Public Offering of Senior Notes Due 2024 Nov 12 2014
Tanger Outlets Kicks Off Holiday Shopping Earlier Than Ever Nov 06 2014
10-Q for Tanger Factory Outlet Centers, Inc. Nov 05 2014
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