Tanger (NYSE:SKT) Posts Earnings Results

Tanger (NYSE:SKT) announced its earnings results on Thursday. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24, FiscalAI reports. The company had revenue of $150.42 million for the quarter, compared to analyst estimates of $142.94 million. Tanger had a return on equity of 16.43% and a net margin of 19.70%.Tanger’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. Tanger updated its FY 2026 guidance to 2.420-2.500 EPS.

Tanger Stock Down 2.1%

NYSE SKT traded down $0.77 during trading on Friday, reaching $36.31. 1,347,647 shares of the company’s stock were exchanged, compared to its average volume of 957,926. Tanger has a fifty-two week low of $28.69 and a fifty-two week high of $37.95. The firm has a market capitalization of $4.16 billion, a PE ratio of 36.31, a P/E/G ratio of 1.76 and a beta of 1.20. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.17. The company’s fifty day simple moving average is $35.83 and its 200-day simple moving average is $34.25.

Tanger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Thursday, April 30th. This is a boost from Tanger’s previous quarterly dividend of $0.29. Tanger’s dividend payout ratio is 125.00%.

Institutional Investors Weigh In On Tanger

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in shares of 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 purchasing an additional 531 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Tanger during the 3rd quarter worth about $33,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Tanger during the 4th quarter worth about $41,000. Quarry LP bought a new position in shares of Tanger in the 3rd quarter valued at approximately $49,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Tanger in the 3rd quarter valued at approximately $77,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SKT has been the topic of several analyst reports. Evercore set a $37.00 target price on Tanger in a research report on Friday. Scotiabank increased their target price on Tanger from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research report on Monday, April 20th. Bank of America reaffirmed a “neutral” rating and issued a $39.00 target price on shares of Tanger in a research report on Friday, March 6th. Finally, Compass Point lowered Tanger from a “buy” rating to a “neutral” rating and set a $38.00 target price on the stock. in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $36.86.

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.