Tanger (NYSE:SKT) Hits New 1-Year High – Time to Buy?

Tanger Inc. (NYSE:SKT)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $37.98 and last traded at $38.1550, with a volume of 43431 shares trading hands. The stock had previously closed at $37.04.

Analysts Set New Price Targets

Several research firms have weighed in on SKT. Compass Point downgraded Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price target on the stock. in a research note on Thursday, February 26th. Bank of America reiterated a “neutral” rating and set a $39.00 price target on shares of Tanger in a research note on Friday, March 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research note on Monday, April 20th. Barclays boosted their price target on Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Evercore set a $37.00 price target on Tanger in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $37.43.

Tanger Trading Up 4.7%

The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 1.76 and a beta of 1.11. The company has a fifty day moving average price of $35.94 and a 200-day moving average price of $34.74. 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 issued its quarterly earnings data 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). The company had revenue of $150.42 million during the quarter, compared to analyst estimates of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. As a group, research analysts expect that Tanger Inc. will post 2.46 EPS for the current year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were issued a $0.3125 dividend. This is a boost from Tanger’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.25 annualized dividend and a dividend yield of 3.2%. Tanger’s payout ratio is presently 116.82%.

Hedge Funds Weigh In On Tanger

Large investors have recently bought and sold shares of the business. SHP Wealth Management acquired a new position in Tanger in the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC raised its holdings in Tanger by 127.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 531 shares during the period. 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 purchasing an additional 293 shares during the period. Advisory Services Network LLC acquired a new position in Tanger in the 3rd quarter worth about $33,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Tanger in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

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.