Tanger (NYSE:SKT) Hits New 1-Year High – Here’s Why

Tanger Inc. (NYSE:SKT) shares reached a new 52-week high on Thursday . The stock traded as high as $41.05 and last traded at $41.0850, with a volume of 485524 shares. The stock had previously closed at $40.54.

Analyst Upgrades and Downgrades

Several research firms have commented on SKT. Evercore set a $37.00 target price on shares of Tanger in a report on Friday, May 1st. LADENBURG THALM/SH SH upped their price target on shares of Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Compass Point cut shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective on the stock. in a research note on Thursday, February 26th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Monday, April 20th. Finally, Barclays boosted their price objective on shares of Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $39.50.

Tanger Stock Performance

The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 38.38, a P/E/G ratio of 2.05 and a beta of 1.11. The company has a 50 day simple moving average of $37.08 and a 200 day simple moving average of $35.30.

Tanger (NYSE:SKT) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. As a group, equities research analysts forecast that Tanger Inc. will post 2.48 EPS for the current year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 3.0%. 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. Tanger’s payout ratio is currently 116.82%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SHP Wealth Management bought a new position in shares of Tanger in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC grew its position in Tanger by 127.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 531 shares during the last quarter. Fifth Third Bancorp increased 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 in the last quarter. Advisory Services Network LLC bought a new position in Tanger in the third quarter valued at about $33,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Tanger during the fourth quarter valued at about $34,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.