Brokerages Set Tanger Inc. (NYSE:SKT) Price Target at $38.43

Shares of Tanger Inc. (NYSE:SKT) have been assigned a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $38.75.

A number of research analysts have weighed in on the stock. Scotiabank lifted their price objective on shares of Tanger from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. Evercore set a $37.00 price objective on shares of Tanger in a report on Friday, May 1st. LADENBURG THALM/SH SH lifted their price objective on shares of Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a report on Monday, April 20th. Finally, Compass Point cut 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.

Tanger Trading Down 0.7%

Shares of Tanger stock opened at $40.31 on Friday. The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 3.36. The firm has a fifty day moving average price of $36.65 and a 200 day moving average price of $35.03. Tanger has a 1 year low of $29.24 and a 1 year high of $41.03. The stock has a market cap of $4.63 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11.

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 analysts’ expectations of $142.94 million. During the same period last year, the business earned $0.53 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Equities research analysts predict that Tanger will post 2.46 earnings per share for the current year.

Tanger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were issued a $0.3125 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This is a positive change from Tanger’s previous quarterly dividend of $0.29. This represents a $1.25 dividend on an annualized basis and a yield of 3.1%. Tanger’s dividend payout ratio is presently 116.82%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Freestone Grove Partners LP increased its stake in shares of Tanger by 6,634.5% during the fourth quarter. Freestone Grove Partners LP now owns 1,184,674 shares of the real estate investment trust’s stock worth $39,533,000 after purchasing an additional 1,167,083 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of Tanger by 2,190.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 832,777 shares of the real estate investment trust’s stock worth $28,181,000 after purchasing an additional 796,411 shares in the last quarter. Vanguard Group Inc. increased its stake 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 worth $598,979,000 after purchasing an additional 789,935 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Tanger during the fourth quarter worth about $25,364,000. Finally, American Century Companies Inc. increased its stake 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 purchasing an additional 737,354 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

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.