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

Tanger Inc. (NYSE:SKT) shares hit a new 52-week high during trading on Thursday . The company traded as high as $41.05 and last traded at $41.0850, with a volume of 485524 shares traded. The stock had previously closed at $40.54.

Analyst Ratings Changes

Several research analysts have recently commented on SKT shares. LADENBURG THALM/SH SH raised their price objective on Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Barclays increased their target price on shares of Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. UBS Group set a $41.00 target price on shares of Tanger in a research note on Thursday, June 18th. Bank of America reaffirmed an “underperform” rating and set a $38.00 price target on shares of Tanger in a report on Tuesday, June 16th. Finally, Scotiabank lifted their price target on shares of Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $39.50.

Tanger Price Performance

The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67. The stock has a 50 day simple moving average of $37.26 and a 200-day simple moving average of $35.39. The firm has a market cap of $4.65 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 2.10 and a beta of 1.11.

Tanger (NYSE:SKT) last announced 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). Tanger had a net margin of 20.76% and a return on equity of 17.53%. The business had revenue of $150.42 million during the quarter, compared to analysts’ expectations of $142.94 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Tanger’s revenue was up 11.1% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Equities analysts anticipate that Tanger Inc. will post 2.48 earnings per share for the current fiscal year.

Tanger Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were issued a $0.3125 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.25 dividend on an annualized basis and a yield of 3.1%. This is a boost from Tanger’s previous quarterly dividend of $0.29. Tanger’s payout ratio is presently 116.82%.

Institutional Investors Weigh In On Tanger

A number of institutional investors have recently added to or reduced their stakes in SKT. Royal Bank of Canada raised its position in shares of Tanger by 2.8% during the first quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust’s stock valued at $4,905,000 after buying an additional 3,995 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Tanger by 17.8% during the first 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Tanger by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust’s stock worth $2,171,000 after acquiring an additional 3,631 shares during the last quarter. United Services Automobile Association purchased a new position in Tanger during the first quarter valued at $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Tanger by 436.9% during the first 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 acquiring an additional 651,961 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Company Profile

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.