Thursday, June 22, 2017

Recent Buy - Tanger Factory Outlet Centers Inc. (SKT)

On Wednesday June 21, I Bought 50 shares of Tanger Factory Outlet Centers Inc. at $ 25.44 per share plus commission.



Tanger Factory Outlet Centers, Inc. is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers. As of December 31, 2016, its portfolio consisted of 36 outlet centers, with a total gross leasable area of approximately 12.7 million square feet, which were 98% occupied and contained over 2,600 stores representing approximately 400 store brands. Its outlet centers and other assets are held by, and all of its operations are conducted by, Tanger Properties Limited Partnership and subsidiaries (Operating Partnership). Tanger Factory Outlet Centers, Inc. was founded in 1981, and is based in Greensboro, North Carolina.



SKT is a Dividend Contenders with a 24 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 15.1, 12.5 , 9.7 and 6.5. (DividendChampions.xls) Tanger Factory Outlet Centers Inc. now pays dividends of $ 0.3425 per share normally in February, May, August and November.

If you are interested, you can read analysis of Tanger Factory Outlet Centers Inc. by Simply Safe Dividends here, and by Brad Thomas at Seeking Alpha here.


Details of my purchase:




Some ratings for SKT:

    Yahoo:  Mean Recommendation 2.8, 1y Target Est $ 29.62
    Reuters: Mean Rating 2.8
    Morningstar:  (****) 


At today's exchange rate, this purchase 50 shares of SKT will increase € 45.72 ($ 51.03) of my expected annual net dividend income and will increase my portfolio's projected annual net dividend income to € 10,870.00. With purchase price $ 25.44 plus commission ($ 5.00) my starting yield on cost is 5.36%. After this acquisition, SKT's weight of my portfolio is about 0.30% and its share of future annual dividend income is approximately 0.42%. During this year, I'm planning slowly to build up SKT's share of my portfolio, if the price remains at these levels.


Click here to see my portfolio.

Full Disclosure: Long SKT 

Thanks for stopping by!

6 comments:

  1. Not a common dividend stock purchase,any special reason for the purchase

    ReplyDelete
    Replies
    1. Hi dd, You're right, not a very common purchase lately, but in my opinion, it was a good time to take a small amount of SKT, and at the same time increase the portfolio's diversification.

      Cheers,
      DH

      Delete
  2. Hello hawk, I very much like your blog - I would be keen on your opinion on currently beaten down stocks with high yields: Target, IBM, General Mills

    ReplyDelete
    Replies
    1. Hi HS and nice to hear, that you like my blog! I don't have any opinion about IBM and I'm not interested about it. I have both TGT and GIS in my holdings, both companies have had a few bad quarters in recent years and the expectations of the future are also quite low. However, I believe that both are able to reverse the direction, and also in the future to pay increasing dividends. At this point I do not plan to add TGT, but GIS's share in the portfolio is so small that I can increase it.

      Cheers,
      DH

      Delete
  3. Thanks, agree, GIS is tempting at current valuation but market is sensible as even Hormel illustrates. Target is just cheap, might add it as well - no position currently.

    ReplyDelete
  4. I must admit that I wasn't familiar with SKT before this post. But, it sounds like you have very good reasons for purchasing the stock and it seems like a safe bet for your portfolio. You can't argue with a 24-year streak of dividend increases.

    ReplyDelete

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