A portfolio of stocks I've been building since September 3, 2019, is named Volio. It will eventually hold 52 dividend dogs. Volio is the fifth portfolio I've built (at a one dividend dog per-week pace) since 2014. Five portfolios = V for Volio!

Today I'm reviewing the first of five real estate sector stocks striving to join my Volio folio. This could be my twenty-seventh pick for Volio!

That real estate sector includes twelve industries all related to real property ownership. Like: Real estate development;Real estate diversified; Real Estate Services; and nine varieties of real estate investment trusts, or REITs.

My subject today is a small-cap retail real estate investment trust named, Tanger Factory Outlet Centers Inc. Their trading ticker symbol is SKT.This is my second report about Tanger Outlet Centers Inc. (SKT).I last reported on this company for my Ivy Portfolio.

Tanger Factory Outlet Centers Inc is the owner and operator of outlet centers in the United States and Canada. It is a fully-integrated, self-administered and self-managed REIT, which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

The company operates approximately 32 outlet centers, with a total gross leasable area of approximately 12 million square feet, which holds over 2,400 stores with hundreds of store brands.

Substantially most of the firm's revenue is derived from rental income from real property. Geographically, the activities are carried out through the United States.

The company reports a price history back to May 28, 1993, is headquartered in Greensboro, North Carolina.

I use three key data points to gauge dividend equities or funds like Tanger Factory Outlet Centers Inc. (SKT):

(1) Price

(2) Dividends

(3) Returns

Besides those three, several other keys will finally unlock an equity or fund in which to invest, or not.

Those three basic keys, however, best tell whether a company has made, is making, and will make money.

SKT Price

Tanger's price per share closed at $11.98 Friday. A year ago their price was $20.81. Thus, in the past year, their market price fell to $17.60, or over 42%.

Assuming Tanger's stock trades in the range of $10 to $20 this next year, its recent $11.98 price might rise by $1.02 to reach $13.00by March 2, 2021, assuming upward price momentum returns.

SKT Dividends

Tanger's latest declared quarterly dividend was $0.3575 payable May 15. That $0.3575Q dividend equates to an annual payout of $1.43 and yields 11.94% at Friday's $11.98 share price.

SKT Gains?

Adding the $1.43 annual estimated dividend to my $1.02 estimate of Tanger Factory Outlet Centers Inc. (SKT) price upside shows a $2.45 potential gross gain, per share, which will be reduced by any costs to trade those shares.

A little under $1,000.00 today invested in Tanger Factory Outlet Centers Inc at its recent $11.98 price, would buy 83 shares of SKT.

A $10 broker fee paid half at purchase and half at sale could cost us $0.12 per share.

Subtract that $0.12 brokerage cost from the estimated $2.45 gross estimated gain per share results in a net gain of $2.33 X 83 shares = $193.39 or a 19.45% net gain on a $994.34 investment.

Therefore, Tanger Factory Outlet Centers Inc, whose trading ticker symbol is SKT shows a possible 19.45% net gain including an 11.94% dividend yield. It could be more, it could be less.

The above speculation is based on past year performance. The actual results remain to be seen to learn if Tanger Factory Outlet Centers Inc. (SKT), is worth your time and money.