Tanger Inc. (NYSE:SKT) Given Average Rating of “Hold” by Brokerages

Shares of Tanger Inc. (NYSE:SKT) have been given an average rating of “Hold” by the nine research firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $36.1250.

A number of equities research analysts recently commented on the company. Evercore ISI upped their price objective on Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Wednesday, October 8th. Wall Street Zen raised Tanger from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Citigroup reiterated a “neutral” rating and issued a $35.00 price target (down from $38.00) on shares of Tanger in a research report on Wednesday, November 19th. Finally, LADENBURG THALM/SH SH upgraded shares of Tanger to a “strong-buy” rating in a report on Thursday.

Tanger Price Performance

Shares of SKT stock opened at $33.44 on Monday. Tanger has a 52-week low of $28.69 and a 52-week high of $37.57. The stock has a market cap of $3.85 billion, a PE ratio of 38.00, a PEG ratio of 2.13 and a beta of 1.37. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.11 and a current ratio of 0.11. The firm’s 50 day moving average price is $33.29 and its two-hundred day moving average price is $32.10.

Tanger (NYSE:SKT) last issued its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $145.21 million during the quarter, compared to analysts’ expectations of $139.30 million. Tanger had a net margin of 18.22% and a return on equity of 15.45%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. As a group, analysts forecast that Tanger will post 2.24 EPS for the current year.

Tanger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, October 31st. Tanger’s dividend payout ratio (DPR) is currently 124.47%.

Insider Activity at Tanger

In related news, EVP Gallardo Leslie Swanson sold 17,500 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $34.74, for a total value of $607,950.00. Following the completion of the sale, the executive vice president owned 92,665 shares in the company, valued at $3,219,182.10. This represents a 15.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKT. Allianz Asset Management GmbH bought a new stake in shares of Tanger in the first quarter worth about $2,219,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Tanger during the 1st quarter valued at about $887,000. Cetera Investment Advisers grew its position in shares of Tanger by 4.4% in the 1st quarter. Cetera Investment Advisers now owns 22,807 shares of the real estate investment trust’s stock valued at $771,000 after purchasing an additional 966 shares during the period. LPL Financial LLC grew its position in shares of Tanger by 13.1% in the 1st quarter. LPL Financial LLC now owns 77,372 shares of the real estate investment trust’s stock valued at $2,614,000 after purchasing an additional 8,972 shares during the period. Finally, Federated Hermes Inc. increased its stake in Tanger by 2.4% during the 1st quarter. Federated Hermes Inc. now owns 195,262 shares of the real estate investment trust’s stock worth $6,598,000 after purchasing an additional 4,521 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

About Tanger

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.