Tanger Inc. (NYSE:SKT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Tanger Inc. (NYSE:SKT) have been assigned a consensus recommendation of “Hold” from the ten research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $40.40.

A number of analysts have commented on SKT shares. BMO Capital Markets upped their price objective on shares of Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Monday, June 15th. Evercore set a $39.00 price objective on shares of Tanger in a research note on Tuesday, July 7th. Barclays lifted their price objective on shares of Tanger from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, August 17th. UBS Group set a $41.00 target price on shares of Tanger in a research note on Thursday, June 18th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Tanger from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th.

Tanger Stock Performance

Shares of NYSE SKT opened at $37.73 on Wednesday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 2.65. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 1.85 and a beta of 1.10. The stock’s fifty day simple moving average is $39.82 and its 200 day simple moving average is $37.41. Tanger has a 52-week low of $31.13 and a 52-week high of $42.53.

Tanger (NYSE:SKT) last announced its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The business had revenue of $156.39 million during the quarter, compared to the consensus estimate of $142.58 million. During the same period in the prior year, the business posted $0.58 earnings per share. Tanger’s revenue was up 11.2% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. As a group, sell-side analysts forecast that Tanger will post 2.48 earnings per share for the current fiscal year.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, July 31st. Tanger’s payout ratio is 113.64%.

Institutional Trading of Tanger

Hedge funds have recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Tanger during the second quarter worth approximately $300,000. First Eagle Investment Management LLC grew its position in Tanger by 32.4% during the second quarter. First Eagle Investment Management LLC now owns 261,325 shares of the real estate investment trust’s stock valued at $10,314,000 after purchasing an additional 63,900 shares in the last quarter. California State Teachers Retirement System increased its stake in Tanger by 3,333.9% in the 2nd quarter. California State Teachers Retirement System now owns 5,183,161 shares of the real estate investment trust’s stock valued at $204,579,000 after buying an additional 5,032,220 shares during the period. Readystate Asset Management LP acquired a new position in Tanger in the 2nd quarter valued at approximately $488,000. Finally, Nykredit A S purchased a new stake in Tanger in the 2nd quarter worth approximately $194,000. 85.23% of the stock is owned by hedge funds and other 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.