Tanger Inc. (NYSE:SKT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Tanger Inc. (NYSE:SKT) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the company, Marketbeat.com reports. Five 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 1-year target price among brokers that have covered the stock in the last year is $36.00.

SKT has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research report on Wednesday, October 8th. Citigroup reissued a “neutral” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Tanger in a research note on Wednesday, November 19th. LADENBURG THALM/SH SH raised Tanger to a “strong-buy” rating in a research report on Thursday, November 20th. Barclays increased their price target on Tanger from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 18th. Finally, Evercore ISI raised their price target on Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a research note on Friday, October 17th.

Tanger Stock Down 0.2%

Shares of SKT opened at $34.05 on Tuesday. The firm has a fifty day moving average price of $33.63 and a 200-day moving average price of $32.99. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 2.20. The firm has a market capitalization of $3.92 billion, a P/E ratio of 36.22, a P/E/G ratio of 1.61 and a beta of 1.06. Tanger has a 12-month low of $28.69 and a 12-month high of $36.76.

Tanger (NYSE:SKT) last posted its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $145.21 million for the quarter, compared to the consensus estimate of $139.30 million. Tanger had a net margin of 19.15% and a return on equity of 15.75%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 EPS. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. Equities research analysts expect that Tanger will post 2.24 earnings per share for the current year.

Institutional Investors Weigh In On Tanger

Several hedge funds have recently modified their holdings of SKT. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Tanger by 5.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,877 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 306 shares in the last quarter. M&T Bank Corp boosted its position in Tanger by 3.3% during the 2nd quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust’s stock valued at $314,000 after acquiring an additional 326 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Tanger by 11.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,185 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 330 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Tanger by 13.2% in the 4th quarter. GAMMA Investing LLC now owns 2,856 shares of the real estate investment trust’s stock valued at $95,000 after acquiring an additional 332 shares during the period. Finally, M&G PLC raised its position in shares of Tanger by 5.6% in the 3rd quarter. M&G PLC now owns 6,435 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

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.