Tanger Inc. (NYSE:SKT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Tanger Inc. (NYSE:SKT) have received an average recommendation of “Hold” from the eight research firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $36.7143.

A number of equities analysts have commented on SKT shares. Barclays boosted their price target on shares of Tanger from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Compass Point lowered shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a report on Thursday, February 26th. Scotiabank boosted their target price on Tanger from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 24th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Wednesday, January 21st. Finally, Bank of America reaffirmed a “neutral” rating and set a $39.00 price target on shares of Tanger in a report on Friday, March 6th.

Tanger Stock Up 0.0%

Shares of NYSE:SKT opened at $34.58 on Friday. The company’s fifty day moving average is $34.65 and its 200-day moving average is $33.84. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.40 and a current ratio of 0.40. Tanger has a 52 week low of $28.69 and a 52 week high of $37.95. The company has a market capitalization of $3.96 billion, a PE ratio of 34.58, a P/E/G ratio of 1.65 and a beta of 1.20.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, January 30th. Tanger’s dividend payout ratio is presently 117.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its holdings in Tanger by 5.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,877 shares of the real estate investment trust’s stock worth $199,000 after acquiring an additional 306 shares during the last quarter. M&T Bank Corp raised its stake in shares of Tanger by 3.3% in the second quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust’s stock worth $314,000 after acquiring an additional 326 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Tanger by 11.6% in the third quarter. Smartleaf Asset Management LLC now owns 3,185 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 330 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Tanger by 13.2% during the fourth quarter. GAMMA Investing LLC now owns 2,856 shares of the real estate investment trust’s stock worth $95,000 after purchasing an additional 332 shares in the last quarter. Finally, M&G PLC grew its stake in shares of Tanger by 5.6% during the third quarter. M&G PLC now owns 6,435 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 340 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

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.