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

Shares of Tanger Inc. (NYSE:SKT) have earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $36.7143.

A number of equities analysts have issued reports on the company. Bank of America reiterated a “neutral” rating and set a $39.00 target price on shares of Tanger in a report on Friday, March 6th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a report on Wednesday, January 21st. Scotiabank upped their price objective on Tanger from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 24th. Compass Point downgraded 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. Finally, Barclays lifted their target price on Tanger from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd.

Institutional Investors Weigh In On Tanger

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Tanger by 5.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,877 shares of the real estate investment trust’s stock worth $199,000 after buying an additional 306 shares during the last quarter. M&T Bank Corp raised its holdings in Tanger by 3.3% during the second quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust’s stock worth $314,000 after acquiring an additional 326 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Tanger by 11.6% during the third quarter. Smartleaf Asset Management LLC now owns 3,185 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 330 shares in the last quarter. GAMMA Investing LLC boosted its position in Tanger by 13.2% during the fourth quarter. GAMMA Investing LLC now owns 2,856 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 332 shares during the last quarter. Finally, M&G PLC grew its stake in Tanger by 5.6% in the third quarter. M&G PLC now owns 6,435 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 340 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Tanger Trading Down 0.8%

Shares of NYSE:SKT opened at $33.71 on Friday. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 1.62 and a beta of 1.16. Tanger has a 12 month low of $28.69 and a 12 month high of $37.95. The company’s fifty day simple moving average is $34.54 and its 200 day simple moving average is $33.83. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.17.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a dividend of $0.2925 per share. The ex-dividend date was Friday, January 30th. This represents a $1.17 annualized dividend and a yield of 3.5%. Tanger’s dividend payout ratio is presently 117.00%.

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.