Tanger Inc. (NYSE:SKT) Receives $40.40 Average PT from Brokerages

Shares of Tanger Inc. (NYSE:SKT) have been assigned an average recommendation of “Hold” from the ten research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $40.40.

SKT has been the topic of several recent research reports. UBS Group set a $41.00 price target on Tanger in a research note on Thursday, June 18th. Deutsche Bank Aktiengesellschaft boosted their target price on Tanger from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. BMO Capital Markets increased their target price on Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Scotiabank raised their price target on Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research report on Friday, July 17th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. SHP Wealth Management purchased a new stake in shares of Tanger during the fourth quarter valued at approximately $25,000. Fifth Third Bancorp raised its holdings in Tanger by 43.2% in the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 293 shares during the last quarter. CENTRAL TRUST Co purchased a new position in Tanger in the 1st quarter worth approximately $54,000. IFP Advisors Inc raised its holdings in Tanger by 80.5% in the 2nd quarter. IFP Advisors Inc now owns 1,628 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 726 shares during the last quarter. Finally, Assetmark Inc. lifted its position in Tanger by 32.1% in the 1st quarter. Assetmark Inc. now owns 2,028 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 493 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Trading Down 0.1%

Shares of NYSE SKT opened at $35.62 on Friday. Tanger has a 1 year low of $31.13 and a 1 year high of $42.53. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a 50-day moving average of $38.76 and a 200 day moving average of $37.54. The stock has a market cap of $4.09 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 1.74 and a beta of 1.10.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The business had revenue of $156.39 million for the quarter, compared to analysts’ expectations of $142.58 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. The business’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 expect that Tanger will post 2.49 EPS for the current fiscal year.

Tanger Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, July 31st. Tanger’s dividend payout ratio (DPR) is currently 113.64%.

About Tanger

Tanger Inc (NYSE: SKT) is a real estate investment trust that owns, operates and develops open-air outlet and shopping centers. Its properties are designed to serve value-conscious consumers and include a mix of national and regional retailers across apparel, footwear, home goods, dining and other consumer categories.

The company’s primary business activities include leasing retail space, managing shopping-center operations and maintaining tenant relationships. Tanger’s portfolio serves shoppers in the United States and Canada, with properties generally located near major metropolitan areas, tourist destinations and high-traffic travel corridors.

Founded in 1981 by Stanley K.