Tanger (NYSE:SKT) Hits New 1-Year High – Time to Buy?

Tanger Inc. (NYSE:SKT) hit a new 52-week high during trading on Wednesday . The company traded as high as $37.13 and last traded at $37.19, with a volume of 286779 shares. The stock had previously closed at $35.56.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Citigroup reiterated a “neutral” rating and set a $35.00 price objective (down from $38.00) on shares of Tanger in a research note on Wednesday, November 19th. LADENBURG THALM/SH SH raised Tanger to a “strong-buy” rating in a research report on Thursday, November 20th. Barclays reaffirmed a “positive” rating and issued a $36.00 price objective on shares of Tanger in a report on Tuesday, January 13th. Scotiabank boosted their price target on shares of Tanger from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Tanger Stock Up 4.9%

The firm’s 50-day simple moving average is $33.72 and its 200-day simple moving average is $33.46. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 1.57 and a beta of 1.18. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.51 and a current ratio of 0.51.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.30). Tanger had a return on equity of 15.75% and a net margin of 19.15%.The firm had revenue of $150.95 million for the quarter, compared to analyst estimates of $143.42 million. During the same period in the previous year, the business posted $0.54 EPS. Tanger’s revenue for the quarter was up 13.9% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.410-2.490 EPS. Sell-side analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, January 30th. Tanger’s dividend payout ratio is 124.47%.

Institutional Investors Weigh In On Tanger

Several large investors have recently modified their holdings of SKT. Truist Financial Corp grew its holdings in shares of Tanger by 736.7% in the 3rd quarter. Truist Financial Corp now owns 61,533 shares of the real estate investment trust’s stock worth $2,082,000 after purchasing an additional 54,179 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new stake in shares of Tanger during the third quarter worth approximately $1,867,000. JPMorgan Chase & Co. increased its position in Tanger by 10.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 777,637 shares of the real estate investment trust’s stock valued at $23,780,000 after acquiring an additional 76,330 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Tanger by 2.4% in the second quarter. Geode Capital Management LLC now owns 2,841,121 shares of the real estate investment trust’s stock valued at $86,892,000 after buying an additional 65,599 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Tanger during the third quarter worth $1,218,000. 85.23% of the stock is currently owned by institutional investors.

About Tanger

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company’s portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger’s centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.