How to save $100 a month into retirement with Tanger stocks
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Tanger Inc. (NYSE:SKT) is a leading owner and operator of outlet and outdoor retail shopping facilities. The company’s portfolio of 38 outlet centers and one open-air lifestyle center spans more than 15 million square feet and is strategically located throughout the U.S. states and Canada’s tourist destinations and vibrant markets.
The company is scheduled to announce its third quarter 2024 earnings on November 6th. Wall Street analysts expect the company’s EPS to be $0.53, up from $0.50 in the year-ago quarter. Quarterly revenue is expected to be $125.61 million, up from $117.35 million in the year-ago period, according to data from Benzinga Pro.
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Tanger’s stock price’s 52-week range was $21.42 to $33.24.
The dividend yield of Tanger stock is 3.33%. It paid a dividend of $1.10 per share in the last 12 months.
Latest information on Tangier
On Aug. 1, the company reported second-quarter 2024 earnings, with FFO of $0.53 versus consensus estimates of $0.52 and revenue of $128.95 million versus consensus $122.16 million as reported by Benzinga. It came to $6,000.
Tanger has raised its full-year 2024 guidance, with diluted net income per share of $0.85 to $0.92 (up from $0.84 to $0.92) and diluted FFO per share of $2.04 to $2.11 (previously $2.02). We predicted that the price would rise from ~$2.10.
“Tanger is well-positioned to further strengthen our portfolio for shoppers and retail partners. Our strong balance sheet and liquidity provide us with a number of opportunistic opportunities, including no material maturities until late 2026. We have the flexibility to maintain our principles and continue to unlock hidden value for our stakeholders,” said Steven Yarov, President and Chief Executive Officer.
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How can I make $100 a month as a Tanger investor?
If you want to earn $100 per month from Tangier’s dividends, or $1,200 per year, you would need 1,092 shares with an investment value of approximately $36,036, or $33 per share.
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Understanding Dividend Yield Calculations: When making an estimate, you need two important variables: desired annual income ($1,200) and dividend yield (3.33% in this case). Therefore, to generate $100 of income per month, $1,200 / 0.0333 = $36,036.
Dividend yield can be calculated by dividing the annual dividend by the stock’s current price.
Dividend yields can change over time due to changes in stock prices and regular dividend payments.
For example, suppose a stock with an annual dividend of $2 has a price of $50. The dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). If the stock price falls to $40, the opposite effect occurs and the dividend yield increases to 5% ($2/$40).
In summary, Tanger stock may seem like an attractive option for income-oriented investors who can earn a steady $100 each month by owning 1,092 shares.
This article from Benzinga highlights three more stocks that offer high dividend yields.
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This article, “How to put $100 a month into your retirement with Tanger stocks” originally appeared on Benzinga.com.
