Tanger (NYSE:SKT) Reaches New 52-Week High After Dividend Announcement

Tanger Inc. (NYSE:SKT) shares reached a new 52-week high on Thursday after the company announced a dividend. The stock traded as high as $41.57 and last traded at $41.4850, with a volume of 414783 shares traded. The stock had previously closed at $40.26.

The newly announced dividend which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.3125 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.25 annualized dividend and a dividend yield of 3.0%. Tanger’s payout ratio is presently 116.82%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SKT. Bank of America restated an “underperform” rating and issued a $38.00 price objective on shares of Tanger in a research note on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tanger from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Barclays lifted their target price on shares of Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. LADENBURG THALM/SH SH boosted their price target on shares of Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Finally, UBS Group set a $41.00 price objective on shares of Tanger in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tanger currently has an average rating of “Hold” and an average price target of $39.70.

Tanger Stock Up 0.2%

The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 3.36. The company has a fifty day moving average price of $38.22 and a 200 day moving average price of $36.04. The company has a market cap of $4.80 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.13 and a beta of 1.09.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.04). Tanger had a net margin of 20.76% and a return on equity of 17.53%. The company had revenue of $150.42 million for the quarter, compared to analysts’ expectations of $142.94 million. During the same quarter last year, the business posted $0.53 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. As a group, analysts anticipate that Tanger Inc. will post 2.48 EPS for the current year.

Institutional Trading of Tanger

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Tanger by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock worth $598,979,000 after purchasing an additional 789,935 shares during the last quarter. State Street Corp raised its stake in Tanger by 3.4% during the 2nd quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock valued at $202,924,000 after buying an additional 215,174 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Tanger by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,879,693 shares of the real estate investment trust’s stock valued at $96,111,000 after acquiring an additional 27,201 shares during the period. Wellington Management Group LLP grew its position in Tanger by 11.3% during the fourth quarter. Wellington Management Group LLP now owns 2,427,912 shares of the real estate investment trust’s stock valued at $81,019,000 after buying an additional 245,639 shares during the period. Finally, Invesco Ltd. raised its position in Tanger by 13.0% in the third quarter. Invesco Ltd. now owns 2,301,124 shares of the real estate investment trust’s stock worth $77,870,000 after acquiring an additional 264,408 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

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.