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

Shares of Tanger Inc. (NYSE:SKT) have received an average rating of “Hold” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $39.50.

Several equities analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Monday, June 15th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a report on Monday, April 20th. LADENBURG THALM/SH SH lifted 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. UBS Group set a $41.00 price objective on shares of Tanger in a research note on Thursday, June 18th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Tanger from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th.

Tanger Trading Up 1.9%

NYSE:SKT traded up $0.73 during trading hours on Tuesday, reaching $40.09. 101,202 shares of the company were exchanged, compared to its average volume of 988,987. Tanger has a 52-week low of $29.24 and a 52-week high of $41.50. The stock has a 50 day simple moving average of $37.59 and a 200 day simple moving average of $35.67. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 37.44, a PEG ratio of 2.02 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 issued its earnings results 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 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 last year, the business posted $0.53 earnings per share. The company’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 predict that Tanger will post 2.48 EPS for the current year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 3.1%. This is a boost from Tanger’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, April 30th. Tanger’s dividend payout ratio is 116.82%.

Hedge Funds Weigh In On Tanger

A number of institutional investors and hedge funds have recently bought and sold shares of SKT. Fifth Third Bancorp grew its position in Tanger by 43.2% in the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 293 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Tanger by 5.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,877 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 306 shares during the period. M&T Bank Corp grew its holdings in Tanger by 3.3% during the 2nd quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust’s stock valued at $314,000 after purchasing an additional 326 shares in the last quarter. GAMMA Investing LLC increased its stake in Tanger by 13.2% during the 4th quarter. GAMMA Investing LLC now owns 2,856 shares of the real estate investment trust’s stock worth $95,000 after buying an additional 332 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Tanger by 2.0% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 17,496 shares of the real estate investment trust’s stock worth $592,000 after buying an additional 346 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

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.