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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 : 7/10

vs
industry
vs
history
Cash to Debt 0.01
SKT's Cash to Debt is ranked lower than
55% of the 808 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 847 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
68% of the 683 Companies
in the Global REIT - Retail industry.

( Industry Median: 2.65 vs. SKT: 2.48 )
SKT' s 10-Year Interest Coverage Range
Min: 1.79   Max: 2.48
Current: 2.48

1.79
2.48
F-Score: 5
Z-Score: 1.58
M-Score: -2.57
WACC vs ROIC
3.65%
7.05%
WACC
ROIC
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 : 8/10

vs
industry
vs
history
Operating margin (%) 31.71
SKT's Operating margin (%) is ranked higher than
66% of the 850 Companies
in the Global REIT - Retail industry.

( Industry Median: 41.53 vs. SKT: 31.71 )
SKT' s 10-Year Operating margin (%) Range
Min: 25.85   Max: 39.76
Current: 31.71

25.85
39.76
Net-margin (%) 18.77
SKT's Net-margin (%) is ranked higher than
63% of the 851 Companies
in the Global REIT - Retail industry.

( Industry Median: 33.84 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
90% of the 860 Companies
in the Global REIT - Retail industry.

( Industry Median: 6.64 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
76% of the 863 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: 5.84
Current: 3.83

0.53
5.84
ROC (Joel Greenblatt) (%) 8.24
SKT's ROC (Joel Greenblatt) (%) is ranked higher than
77% of the 771 Companies
in the Global REIT - Retail industry.

( Industry Median: 6.32 vs. SKT: 8.24 )
SKT' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 4.89   Max: 19.27
Current: 8.24

4.89
19.27
Revenue Growth (3Y)(%) 5.90
SKT's Revenue Growth (3Y)(%) is ranked higher than
88% of the 649 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.40 vs. SKT: 5.90 )
SKT' s 10-Year Revenue Growth (3Y)(%) Range
Min: -18   Max: 27
Current: 5.9

-18
27
EBITDA Growth (3Y)(%) 12.10
SKT's EBITDA Growth (3Y)(%) is ranked higher than
76% of the 582 Companies
in the Global REIT - Retail industry.

( Industry Median: 2.20 vs. SKT: 12.10 )
SKT' s 10-Year EBITDA Growth (3Y)(%) Range
Min: 0   Max: 39.2
Current: 12.1

0
39.2
EPS Growth (3Y)(%) 52.70
SKT's EPS Growth (3Y)(%) is ranked higher than
83% of the 482 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.40 vs. SKT: 52.70 )
SKT' s 10-Year EPS Growth (3Y)(%) 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

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
Q4 2014

SKT Guru Trades in Q4 2014

Jim Simons 656,000 sh (+136.91%)
Chris Davis Sold Out
Third Avenue Management 2,044,815 sh (-16.83%)
Ron Baron 264,026 sh (-17.15%)
» 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 2014-12-31 Reduce -16.83%0.29%$32.95 - $37.65 $ 35.45-1%2044815
Chris Davis 2014-12-31 Sold Out 0.04%$32.95 - $37.65 $ 35.45-1%0
Third Avenue Management 2014-09-30 Add 69.28%0.7%$32.55 - $35.93 $ 35.452%2458721
Chris Davis 2014-09-30 Reduce -38.53%0.02%$32.55 - $35.93 $ 35.452%352864
Ron Baron 2014-09-30 Reduce -34.05%0.02%$32.55 - $35.93 $ 35.452%318675
Ron Baron 2014-03-31 New Buy0.07%$32.02 - $35.14 $ 35.455%483200
Third Avenue Management 2013-09-30 New Buy0.88%$30.14 - $35.61 $ 35.458%1394811
Chris Davis 2013-09-30 New Buy0.04%$30.14 - $35.61 $ 35.458%451832
Ken Heebner 2013-03-31 Sold Out 1.2%$34.2 - $36.47 $ 35.450%0
Ken Heebner 2012-12-31 Add 80.67%0.54%$30.97 - $34.43 $ 35.459%1355000
Ken Heebner 2012-09-30 New Buy0.61%$31.88 - $33.94 $ 35.458%750000
Ken Heebner 2012-03-31 Sold Out 0.92%$28.1 - $30.17 $ 35.4529%0
Ken Heebner 2011-12-31 Reduce -45.13%0.66%$24.73 - $29.82 $ 35.4528%1325000
Premium More recent guru trades are included for Premium Members only!!
Premium More recent guru trades are included for USA Subscribe Members only!!
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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) 42.90
SKT's P/E(ttm) is ranked higher than
66% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 28.30 vs. SKT: 42.90 )
SKT' s 10-Year P/E(ttm) Range
Min: 16.88   Max: 252.63
Current: 42.9

16.88
252.63
Forward P/E 39.84
SKT's Forward P/E is ranked higher than
72% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 30.03 vs. SKT: 39.84 )
N/A
PE(NRI) 42.70
SKT's PE(NRI) is ranked higher than
67% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 29.90 vs. SKT: 42.70 )
SKT' s 10-Year PE(NRI) Range
Min: 15.21   Max: 253.17
Current: 42.7

15.21
253.17
P/B 6.60
SKT's P/B is ranked lower than
51% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.32 vs. SKT: 6.60 )
SKT' s 10-Year P/B Range
Min: 2.75   Max: 8.58
Current: 6.6

2.75
8.58
P/S 8.00
SKT's P/S is ranked higher than
70% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 8.16 vs. SKT: 8.00 )
SKT' s 10-Year P/S Range
Min: 2.98   Max: 9.92
Current: 8

2.98
9.92
PFCF 33.40
SKT's PFCF is ranked higher than
83% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.00 vs. SKT: 33.40 )
SKT' s 10-Year PFCF Range
Min: 9.45   Max: 499
Current: 33.4

9.45
499
POCF 16.72
SKT's POCF is ranked higher than
73% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 18.28 vs. SKT: 16.72 )
SKT' s 10-Year POCF Range
Min: 7.17   Max: 22.65
Current: 16.72

7.17
22.65
EV-to-EBIT 36.52
SKT's EV-to-EBIT is ranked higher than
71% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 34.66 vs. SKT: 36.52 )
SKT' s 10-Year EV-to-EBIT Range
Min: 18.9   Max: 120.3
Current: 36.52

18.9
120.3
PEG 5.77
SKT's PEG is ranked higher than
93% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.00 vs. SKT: 5.77 )
SKT' s 10-Year PEG Range
Min: 1.67   Max: 161.65
Current: 5.77

1.67
161.65
Shiller P/E 50.50
SKT's Shiller P/E is ranked higher than
83% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.00 vs. SKT: 50.50 )
SKT' s 10-Year Shiller P/E Range
Min: 34.84   Max: 88.61
Current: 50.5

34.84
88.61
Current Ratio 0.14
SKT's Current Ratio is ranked higher than
51% of the 783 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.85 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 higher than
51% of the 783 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.78 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 2.70
SKT's Dividend Yield is ranked lower than
78% of the 843 Companies
in the Global REIT - Retail industry.

( Industry Median: 4.29 vs. SKT: 2.70 )
SKT' s 10-Year Dividend Yield Range
Min: 2.19   Max: 6.8
Current: 2.7

2.19
6.8
Dividend Payout 1.23
SKT's Dividend Payout is ranked higher than
74% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.23 vs. SKT: 1.23 )
SKT' s 10-Year Dividend Payout Range
Min: 0.4   Max: 15.2
Current: 1.23

0.4
15.2
Dividend growth (3y) 4.60
SKT's Dividend growth (3y) is ranked higher than
77% of the 524 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: 6.3
Current: 4.6

0.4
6.3
Yield on cost (5-Year) 3.16
SKT's Yield on cost (5-Year) is ranked lower than
68% of the 846 Companies
in the Global REIT - Retail industry.

( Industry Median: 4.88 vs. SKT: 3.16 )
SKT' s 10-Year Yield on cost (5-Year) Range
Min: 2.56   Max: 7.96
Current: 3.16

2.56
7.96
Share Buyback Rate -5.40
SKT's Share Buyback Rate is ranked higher than
82% of the 607 Companies
in the Global REIT - Retail industry.

( Industry Median: -6.10 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 6.50
SKT's Price/Tangible Book is ranked higher than
51% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.40 vs. SKT: 6.50 )
SKT' s 10-Year Price/Tangible Book Range
Min: 1.23   Max: 8.39
Current: 6.5

1.23
8.39
Price/DCF (Projected) 3.60
SKT's Price/DCF (Projected) is ranked higher than
81% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.00 vs. SKT: 3.60 )
SKT' s 10-Year Price/DCF (Projected) Range
Min: 2.69   Max: 11.2
Current: 3.6

2.69
11.2
Price/Median PS Value 1.30
SKT's Price/Median PS Value is ranked higher than
69% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.30 vs. SKT: 1.30 )
SKT' s 10-Year Price/Median PS Value Range
Min: 0.25   Max: 1.59
Current: 1.3

0.25
1.59
Price/Peter Lynch Fair Value 3.70
SKT's Price/Peter Lynch Fair Value is ranked higher than
91% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.00 vs. SKT: 3.70 )
SKT' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.46   Max: 42.26
Current: 3.7

0.46
42.26
Price/Graham Number 3.40
SKT's Price/Graham Number is ranked higher than
61% of the 934 Companies
in the Global REIT - Retail industry.

( Industry Median: 1.50 vs. SKT: 3.40 )
SKT' s 10-Year Price/Graham Number Range
Min: 0.88   Max: 4.37
Current: 3.4

0.88
4.37
Earnings Yield (Greenblatt) 2.70
SKT's Earnings Yield (Greenblatt) is ranked higher than
68% of the 846 Companies
in the Global REIT - Retail industry.

( Industry Median: 3.30 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) 12.48
SKT's Forward Rate of Return (Yacktman) is ranked higher than
87% of the 527 Companies
in the Global REIT - Retail industry.

( Industry Median: 0.56 vs. SKT: 12.48 )
SKT' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -10.2   Max: 32.3
Current: 12.48

-10.2
32.3

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 

More From Other Websites
10-K for Tanger Factory Outlet Centers, Inc. Feb 26 2015
Tanger Factory Outlet Centers, Inc. To Present at Citi's 2015 Global Property CEO Conference Feb 26 2015
Tanger Factory Outlet Centers, Inc. To Present at Citi's 2015 Global Property CEO Conference Feb 26 2015
TANGER FACTORY OUTLET CENTERS INC Files SEC form 10-K, Annual Report Feb 24 2015
Tanger Outlets at Foxwoods to Host Job Fair Next Month Feb 18 2015
Tanger Outlets at Foxwoods to Host Job Fair Next Month Feb 18 2015
PRESS DIGEST-New Zealand newspapers - Feb 17 Feb 16 2015
Tanger Factory Outlets Traded Lower After Earnings, Despite 2014's 23% Rent Bumps Feb 13 2015
Are Outlet Malls Set For A Building Boom? Feb 12 2015
Are Off-Price Retail Centers Set For A Building Boom? Feb 12 2015
Tanger reports 4Q results Feb 10 2015
Tanger reports 4Q results Feb 10 2015
TANGER FACTORY OUTLET CENTERS INC Files SEC form 8-K, Results of Operations and Financial Condition,... Feb 10 2015
Tanger Reports Year End Results For 2014 Feb 10 2015
Q4 2014 Tanger Factory Outlet Centers Inc Earnings Release - After Market Close Feb 10 2015
Tanger Outlet Center To Host Job Fair On Wednesday, February 25 Feb 05 2015
Tanger Outlets Sets Date For Official Ground Breaking Ceremony Jan 29 2015
Tanger Factory Outlet Centers, Inc. 2014 Tax Reporting Information - Distribution (Form 1099) Jan 20 2015
Tanger Outlets to host Super Bowl parties, events Jan 12 2015
Bank Of America: Tanger Factory Outlets No Bargain Jan 09 2015

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