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

Shares of Tanger Inc. (NYSE:SKT) have been assigned an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.70.

Several analysts recently issued reports on the company. Evercore set a $39.00 target price on Tanger in a research note on Tuesday. Barclays raised their target price on shares of Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. UBS Group set a $41.00 price objective on shares of Tanger in a report on Thursday, June 18th. Bank of America reiterated an “underperform” rating and issued a $38.00 target price on shares of Tanger in a research report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Tanger from $35.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, June 17th.

Hedge Funds Weigh In On Tanger

Several hedge funds have recently added to or reduced their stakes in SKT. Royal Bank of Canada increased its stake in Tanger by 2.8% in the 1st quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust’s stock worth $4,905,000 after buying an additional 3,995 shares during the period. AQR Capital Management LLC grew its stake in Tanger by 17.8% in the 1st quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust’s stock worth $1,291,000 after acquiring an additional 5,765 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Tanger by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust’s stock worth $2,171,000 after acquiring an additional 3,631 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Tanger during the first quarter worth approximately $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Tanger by 436.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust’s stock worth $27,073,000 after acquiring an additional 651,961 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Performance

Shares of Tanger stock traded up $0.14 on Tuesday, reaching $39.60. 532,258 shares of the company traded hands, compared to its average volume of 1,112,666. Tanger has a 52 week low of $29.24 and a 52 week high of $41.50. The company has a 50 day moving average of $37.81 and a 200 day moving average of $35.81. The firm has a market capitalization of $4.55 billion, a PE ratio of 37.01, a PEG ratio of 2.03 and a beta of 1.09. The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 3.36.

Tanger (NYSE:SKT) last announced its earnings results 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). Tanger had a return on equity of 17.53% and a net margin of 20.76%.The firm had revenue of $150.42 million during the quarter, compared to analysts’ expectations of $142.94 million. During the same period in the previous year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Equities analysts forecast that Tanger will post 2.48 earnings per share for the current year.

Tanger Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were issued a $0.3125 dividend. This is a positive change from Tanger’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, April 30th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.2%. Tanger’s dividend payout ratio (DPR) is presently 116.82%.

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.