Tanger Inc. (NYSE:SKT) Given Average Rating of “Moderate Buy” by Analysts

Tanger Inc. (NYSE:SKT) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $36.00.

Several equities research analysts have commented on SKT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research report on Wednesday, October 8th. Citigroup reiterated a “neutral” rating and issued a $35.00 target price (down from $38.00) on shares of Tanger in a report on Wednesday, November 19th. LADENBURG THALM/SH SH upgraded shares of Tanger to a “strong-buy” rating in a report on Thursday, November 20th. Evercore ISI lifted their price target on shares of Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Finally, Barclays increased their price objective on Tanger from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 18th.

Tanger Price Performance

Shares of NYSE:SKT opened at $34.28 on Friday. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 2.06 and a beta of 1.06. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.51 and a quick ratio of 0.51. Tanger has a 12 month low of $28.69 and a 12 month high of $36.76. The stock’s 50 day moving average price is $33.41 and its 200 day moving average price is $32.65.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Tanger had a return on equity of 15.75% and a net margin of 19.15%.The firm had revenue of $145.21 million during the quarter, compared to analyst estimates of $139.30 million. During the same period last year, the company posted $0.54 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. Equities research analysts anticipate that Tanger will post 2.24 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $0.2925 dividend. The ex-dividend date was Friday, October 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.4%. Tanger’s dividend payout ratio (DPR) is 124.47%.

Institutional Trading of Tanger

Hedge funds have recently bought and sold shares of the company. Tudor Investment Corp ET AL increased its position in shares of Tanger by 319.8% in the third quarter. Tudor Investment Corp ET AL now owns 94,736 shares of the real estate investment trust’s stock worth $3,206,000 after acquiring an additional 72,171 shares in the last quarter. Cambria Investment Management L.P. grew its position in Tanger by 15.6% during the 3rd quarter. Cambria Investment Management L.P. now owns 19,538 shares of the real estate investment trust’s stock worth $661,000 after purchasing an additional 2,640 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Tanger during the 3rd quarter worth approximately $403,000. Advisory Services Network LLC acquired a new stake in Tanger during the 3rd quarter valued at $33,000. Finally, Kestra Private Wealth Services LLC lifted its holdings in shares of Tanger by 6.5% in the third quarter. Kestra Private Wealth Services LLC now owns 13,741 shares of the real estate investment trust’s stock valued at $465,000 after purchasing an additional 842 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

About Tanger

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.