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

Shares of Tanger Inc. (NYSE:SKT) have received a consensus rating of “Hold” from the ten brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $39.70.

SKT has been the topic of several research reports. Scotiabank lifted their price objective 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. Deutsche Bank Aktiengesellschaft upped 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. LADENBURG THALM/SH SH increased their target price on Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. UBS Group set a $41.00 price target on Tanger in a report on Thursday, June 18th. Finally, Barclays boosted their price target on Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th.

Hedge Funds Weigh In On Tanger

A number of large investors have recently added to or reduced their stakes in SKT. Vanguard Group Inc. lifted its position in shares of Tanger by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock valued at $598,979,000 after buying an additional 789,935 shares during the last quarter. State Street Corp grew its position in shares of Tanger by 3.4% in the 2nd quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock worth $202,924,000 after buying an additional 215,174 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Tanger by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,879,693 shares of the real estate investment trust’s stock worth $96,111,000 after buying an additional 27,201 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Tanger by 11.3% during the 4th quarter. Wellington Management Group LLP now owns 2,427,912 shares of the real estate investment trust’s stock worth $81,019,000 after acquiring an additional 245,639 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Tanger by 13.0% during the 3rd quarter. Invesco Ltd. now owns 2,301,124 shares of the real estate investment trust’s stock worth $77,870,000 after acquiring an additional 264,408 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Performance

Shares of Tanger stock opened at $39.83 on Tuesday. 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’s fifty day moving average price is $37.86 and its 200-day moving average price is $35.86. The firm has a market cap of $4.58 billion, a P/E ratio of 37.22, a P/E/G ratio of 2.03 and a beta of 1.09. Tanger has a 12 month low of $29.24 and a 12 month high of $41.50.

Tanger (NYSE:SKT) last issued its earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.04). Tanger had a return on equity of 17.53% and a net margin of 20.76%.The business had revenue of $150.42 million for the quarter, compared to the consensus estimate of $142.94 million. During the same quarter in the previous year, the company earned $0.53 earnings per share. The firm’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. On average, equities research analysts expect that Tanger will post 2.48 earnings per share for the current fiscal year.

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.