Tanger (NYSE:SKT) Stock Price Expected to Rise, Scotiabank Analyst Says

Tanger (NYSE:SKT) had its price objective lifted by analysts at Scotiabank from $36.00 to $37.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 4.94% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Evercore set a $37.00 price objective on Tanger in a research note on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a report on Monday, April 20th. Compass Point downgraded Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price target for the company. in a research report on Thursday, February 26th. Bank of America reiterated a “neutral” rating and set a $39.00 price objective on shares of Tanger in a research report on Friday, March 6th. Finally, Barclays increased their target price on shares of Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Tanger presently has a consensus rating of “Hold” and a consensus price target of $37.43.

Tanger Trading Down 1.1%

SKT stock opened at $35.26 on Tuesday. The firm has a fifty day moving average price of $35.68 and a 200 day moving average price of $34.49. Tanger has a fifty-two week low of $28.69 and a fifty-two week high of $37.95. The firm has a market cap of $4.05 billion, a PE ratio of 32.95, a price-to-earnings-growth ratio of 1.67 and a beta of 1.14. The company has a debt-to-equity ratio of 2.67, a quick ratio of 3.36 and a current ratio of 3.36.

Tanger (NYSE:SKT) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.04). The business had revenue of $150.42 million for the quarter, compared to the consensus estimate of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. Tanger’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Sell-side analysts anticipate that Tanger will post 2.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in Tanger by 2.8% in the 1st quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust’s stock worth $4,905,000 after acquiring an additional 3,995 shares in the last quarter. AQR Capital Management LLC grew its holdings in Tanger by 17.8% during the 1st quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust’s stock worth $1,291,000 after acquiring an additional 5,765 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Tanger by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust’s stock valued at $2,171,000 after purchasing an additional 3,631 shares during the period. United Services Automobile Association purchased a new position in Tanger during the 1st quarter valued at about $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Tanger by 436.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust’s stock valued at $27,073,000 after purchasing an additional 651,961 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

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.