Tanger (NYSE:SKT) Price Target Raised to $42.00

Tanger (NYSE:SKT) had its price target raised by research analysts at LADENBURG THALM/SH SH from $40.00 to $42.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s price objective would suggest a potential upside of 5.41% from the company’s current price.

Several other equities research analysts have also commented on the company. Barclays upped their price target on Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Evercore set a $37.00 price target on shares of Tanger in a report on Friday, May 1st. Bank of America reissued a “neutral” rating and issued a $39.00 price target on shares of Tanger in a report on Friday, March 6th. Scotiabank raised their price objective on shares of Tanger from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 19th. Finally, 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. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $38.43.

Tanger Trading Up 1.0%

Shares of SKT traded up $0.38 on Wednesday, hitting $39.85. 503,907 shares of the stock traded hands, compared to its average volume of 942,187. 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 firm has a market capitalization of $4.58 billion, a P/E ratio of 37.26, a P/E/G ratio of 1.76 and a beta of 1.11. The stock’s 50 day moving average is $36.06 and its two-hundred day moving average is $34.79. Tanger has a 1 year low of $29.24 and a 1 year high of $40.06.

Tanger (NYSE:SKT) last announced 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 firm had revenue of $150.42 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. As a group, sell-side analysts predict that Tanger will post 2.46 earnings per share for the current year.

Institutional Trading of Tanger

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Tanger by 31.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 154,759 shares of the real estate investment trust’s stock worth $5,124,000 after acquiring an additional 37,163 shares during the period. American Century Companies Inc. lifted its stake in 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 valued at $26,662,000 after purchasing an additional 737,354 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its stake in Tanger by 131.6% during the third quarter. Elo Mutual Pension Insurance Co now owns 35,714 shares of the real estate investment trust’s stock valued at $1,209,000 after purchasing an additional 20,292 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Tanger by 26.6% during the third quarter. JPMorgan Chase & Co. now owns 984,836 shares of the real estate investment trust’s stock valued at $33,327,000 after acquiring an additional 207,199 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Tanger by 6,186.3% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 721,599 shares of the real estate investment trust’s stock valued at $24,419,000 after acquiring an additional 710,120 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

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.