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

Tanger Inc. (NYSE:SKT) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $36.00.

Several equities analysts have recently issued reports on SKT shares. LADENBURG THALM/SH SH upgraded Tanger to a “strong-buy” rating in a research report on Thursday, November 20th. Scotiabank lifted their price objective on shares of Tanger from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Evercore boosted their price objective on shares of Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research note on Wednesday, January 21st. Finally, Barclays reissued a “positive” rating and set a $36.00 price target on shares of Tanger in a research report on Tuesday, January 13th.

Institutional Investors Weigh In On Tanger

Large investors have recently modified their holdings of the business. Salomon & Ludwin LLC bought a new position in shares of Tanger during the 3rd quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its holdings 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 buying an additional 531 shares during the period. Advisory Services Network LLC acquired a new stake in Tanger during the 3rd quarter worth approximately $33,000. City Holding Co. bought a new position in Tanger in the third quarter valued at approximately $34,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Tanger in the fourth quarter valued at approximately $34,000. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Up 1.4%

NYSE:SKT opened at $33.58 on Friday. Tanger has a 12-month low of $28.69 and a 12-month high of $36.76. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 2.20. The firm has a market capitalization of $3.87 billion, a P/E ratio of 35.72, a P/E/G ratio of 1.46 and a beta of 1.18. The stock’s fifty day simple moving average is $33.36 and its 200-day simple moving average is $33.16.

Tanger (NYSE:SKT) last released its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Tanger had a return on equity of 15.75% and a net margin of 19.15%.The business had revenue of $145.21 million during the quarter, compared to the consensus estimate of $139.30 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Equities research analysts expect that Tanger will post 2.24 earnings per share for the current year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.2925 per share. The ex-dividend date is Friday, January 30th. This represents a $1.17 annualized dividend and a yield of 3.5%. Tanger’s payout ratio is currently 124.47%.

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.