Tanger Inc. (NYSE:SKT) Stock Has Average Price Target of $40.17

Shares of Tanger Inc. (NYSE:SKT) have been given an average rating of “Hold” by the ten research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $40.17.

A number of research analysts have recently issued reports on SKT shares. Evercore set a $39.00 price target on shares of Tanger in a research note on Tuesday, July 7th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Thursday. JPMorgan Chase & Co. lowered Tanger from an “overweight” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a report on Thursday, September 24th. The Goldman Sachs Group set a $40.00 price objective on Tanger in a report on Wednesday, October 7th. Finally, Barclays dropped their target price on Tanger from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Monday, September 28th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. SHP Wealth Management purchased a new position in Tanger in the fourth quarter worth $25,000. Fifth Third Bancorp lifted its holdings in Tanger by 43.2% in the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 293 shares during the period. CENTRAL TRUST Co acquired a new stake in Tanger in the first quarter valued at $54,000. IFP Advisors Inc boosted its position in shares of Tanger by 80.5% during the 2nd quarter. IFP Advisors Inc now owns 1,628 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 726 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Tanger by 32.1% during the 1st quarter. Assetmark Inc. now owns 2,028 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 493 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Trading Up 0.3%

NYSE:SKT opened at $35.43 on Thursday. The firm has a market cap of $4.07 billion, a P/E ratio of 32.21, a PEG ratio of 1.74 and a beta of 1.12. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 2.65. The stock’s 50 day simple moving average is $36.51 and its 200-day simple moving average is $37.50. Tanger has a 12-month low of $31.13 and a 12-month high of $42.53.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Tanger had a return on equity of 17.72% and a net margin of 20.74%. The firm had revenue of $156.39 million during the quarter, compared to the consensus estimate of $142.58 million. During the same period last year, the company earned $0.58 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Equities analysts anticipate that Tanger will post 2.50 EPS for the current year.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, October 30th. Tanger’s dividend payout ratio (DPR) is currently 113.64%.

Tanger Company Profile

Tanger Inc is a real estate investment trust that owns, operates and develops open-air outlet shopping centers. The company leases retail space to a broad range of brand-name and designer retailers, including apparel, footwear, accessories, home goods and other consumer-oriented businesses.

Founded in 1981 by Stanley K. Tanger, the company helped establish the outlet-center format in the United States. Tanger’s properties are designed to serve both local shoppers and tourists, with tenants offering merchandise through outlet and value-oriented retail concepts.

Tanger serves markets across the United States and Canada through a portfolio of outlet centers located near major metropolitan areas, tourist destinations and highway corridors.