Tanger (NYSE:SKT) Stock Price Target Lowered at Barclays

Tanger (NYSE:SKT) had its target price reduced by Barclays from $42.00 to $41.00 in a research report report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

SKT has been the topic of a number of other research reports. LADENBURG THALM/SH SH boosted their target price on shares of Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research note on Friday, July 17th. Scotiabank raised their price objective on Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. UBS Group set a $41.00 price objective on Tanger in a research report on Thursday, June 18th. Finally, JPMorgan Chase & Co. cut Tanger from an “overweight” rating to a “neutral” rating and set a $39.00 target price for the company. in a report on Thursday, September 24th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Tanger has an average rating of “Hold” and an average target price of $40.18.

Tanger Stock Up 0.0%

SKT stock opened at $34.74 on Monday. The stock has a market capitalization of $3.99 billion, a P/E ratio of 31.58, a price-to-earnings-growth ratio of 1.69 and a beta of 1.10. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 2.65. Tanger has a 12 month low of $31.13 and a 12 month high of $42.53. The firm has a 50-day moving average price of $38.25 and a 200-day moving average price of $37.51.

Tanger (NYSE:SKT) last announced its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $156.39 million for the quarter, compared to analyst estimates of $142.58 million. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. As a group, equities research analysts anticipate that Tanger will post 2.49 EPS 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 issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, July 31st. Tanger’s payout ratio is presently 113.64%.

Hedge Funds Weigh In On Tanger

Several large investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Tanger by 7.7% in the second quarter. BlackRock Inc. now owns 22,211,493 shares of the real estate investment trust’s stock worth $876,688,000 after acquiring an additional 1,582,006 shares during the period. State Street Corp raised its holdings in Tanger by 0.5% during the 2nd quarter. State Street Corp now owns 6,519,128 shares of the real estate investment trust’s stock worth $257,310,000 after purchasing an additional 30,825 shares during the last quarter. Geode Capital Management LLC raised its holdings in Tanger by 1.0% during 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 purchasing an additional 27,201 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tanger by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,694,607 shares of the real estate investment trust’s stock worth $57,584,000 after purchasing an additional 42,114 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Tanger by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 860,761 shares of the real estate investment trust’s stock worth $33,974,000 after purchasing an additional 23,200 shares during the period. Institutional investors own 85.23% of the company’s stock.

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.