Tanger Inc. (NYSE:SKT) Receives $39.70 Average PT from Brokerages

Tanger Inc. (NYSE:SKT) has earned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $39.70.

Several research analysts have weighed in on SKT shares. Barclays upped their price objective 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. Scotiabank boosted 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research note on Friday, July 17th. LADENBURG THALM/SH SH increased their price objective on Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Tanger from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, June 17th.

Tanger Stock Performance

SKT stock opened at $40.80 on Friday. The company has a debt-to-equity ratio of 2.67, a quick ratio of 3.36 and a current ratio of 3.36. The stock has a market cap of $4.69 billion, a P/E ratio of 38.13, a P/E/G ratio of 2.08 and a beta of 1.09. The firm has a 50 day simple moving average of $39.50 and a 200 day simple moving average of $36.65. Tanger has a 52 week low of $29.56 and a 52 week high of $42.53.

Tanger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, July 31st. Tanger’s dividend payout ratio (DPR) is presently 116.82%.

Institutional Trading of Tanger

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Tanger by 31.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 154,759 shares of the real estate investment trust’s stock worth $5,124,000 after buying an additional 37,163 shares during the period. Hsbc Holdings PLC raised its holdings in Tanger by 28.8% in the 4th quarter. Hsbc Holdings PLC now owns 268,603 shares of the real estate investment trust’s stock worth $8,987,000 after acquiring an additional 60,035 shares during the period. Tudor Investment Corp ET AL lifted its position in Tanger by 319.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 94,736 shares of the real estate investment trust’s stock worth $3,206,000 after acquiring an additional 72,171 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Tanger by 25.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 783,777 shares of the real estate investment trust’s stock valued at $26,155,000 after acquiring an additional 158,376 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Tanger in the fourth quarter valued at about $834,000. 85.23% of the stock is owned by 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.