Tanger Inc. (NYSE:SKT) Receives $37.29 Consensus Target Price from Brokerages

Shares of Tanger Inc. (NYSE:SKT) have received an average recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $37.4286.

Several equities analysts have recently commented on SKT shares. Barclays upped their target price on Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research report on Monday, April 20th. Scotiabank boosted their price objective on Tanger from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 19th. Evercore set a $37.00 price objective on Tanger in a research report on Friday, May 1st. Finally, Compass Point downgraded Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research report on Thursday, February 26th.

Tanger Stock Down 0.1%

NYSE:SKT opened at $35.47 on Monday. The firm has a market capitalization of $4.07 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 1.68 and a beta of 1.14. The stock has a 50 day moving average of $35.65 and a 200-day moving average of $34.57. Tanger has a 52 week low of $28.69 and a 52 week high of $37.95. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67.

Tanger (NYSE:SKT) last posted its earnings results 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 company 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%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Analysts predict that Tanger will post 2.46 EPS for the current year.

Tanger Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were given a dividend of $0.3125 per share. This is a boost from Tanger’s previous quarterly dividend of $0.29. This represents a $1.25 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Thursday, April 30th. Tanger’s payout ratio is presently 116.82%.

Hedge Funds Weigh In On Tanger

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Tanger by 31.6% during the fourth 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. Truist Financial Corp boosted its position in shares of Tanger by 736.7% during the third quarter. Truist Financial Corp now owns 61,533 shares of the real estate investment trust’s stock worth $2,082,000 after buying an additional 54,179 shares during the period. American Century Companies Inc. boosted its position in shares of Tanger by 1,459.4% during the third quarter. American Century Companies Inc. now owns 787,880 shares of the real estate investment trust’s stock worth $26,662,000 after buying an additional 737,354 shares during the period. Elo Mutual Pension Insurance Co boosted its position in shares of Tanger by 131.6% during the third quarter. Elo Mutual Pension Insurance Co now owns 35,714 shares of the real estate investment trust’s stock worth $1,209,000 after buying an additional 20,292 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Tanger by 26.6% during the third quarter. JPMorgan Chase & Co. now owns 984,836 shares of the real estate investment trust’s stock worth $33,327,000 after buying an additional 207,199 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.