Tanger (NYSE:SKT) Rating Lowered to Neutral at JPMorgan Chase & Co.

Tanger (NYSE:SKT) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat reports. They currently have a $39.00 price target on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 10.87% from the stock’s current price.

SKT has been the subject of several other research reports. Barclays boosted their price objective on shares of Tanger from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, August 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a research note on Friday, July 17th. Citigroup boosted their price objective on shares of Tanger from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. LADENBURG THALM/SH SH increased their price objective on Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Finally, Evercore set a $39.00 target price on Tanger in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Tanger currently has an average rating of “Hold” and an average price target of $40.27.

Tanger Stock Performance

Shares of NYSE:SKT opened at $35.18 on Thursday. Tanger has a 1-year low of $31.13 and a 1-year high of $42.53. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 2.65. The business has a 50-day moving average price of $38.66 and a two-hundred day moving average price of $37.53. The stock has a market capitalization of $4.04 billion, a P/E ratio of 31.98, a P/E/G ratio of 1.74 and a beta of 1.10.

Tanger (NYSE:SKT) last posted its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $156.39 million for the quarter, compared to the consensus estimate of $142.58 million. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Equities analysts predict that Tanger will post 2.49 earnings per share for the current year.

Institutional Investors Weigh In On Tanger

Several institutional investors have recently made changes to their positions in SKT. BlackRock Inc. grew its stake in Tanger by 7.7% in the second quarter. BlackRock Inc. now owns 22,211,493 shares of the real estate investment trust’s stock valued at $876,688,000 after acquiring an additional 1,582,006 shares during the period. State Street Corp boosted its position in shares of Tanger by 0.5% during the second quarter. State Street Corp now owns 6,519,128 shares of the real estate investment trust’s stock valued at $257,310,000 after buying an additional 30,825 shares during the last quarter. Geode Capital Management LLC raised its position 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 worth $96,111,000 after acquiring an additional 27,201 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Tanger by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,694,607 shares of the real estate investment trust’s stock valued at $57,584,000 after buying an additional 42,114 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Tanger by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 860,761 shares of the real estate investment trust’s stock worth $33,974,000 after buying an additional 23,200 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Tanger Company Profile

Tanger Inc (NYSE: SKT) is a real estate investment trust that owns, operates and develops open-air outlet and shopping centers. Its properties are designed to serve value-conscious consumers and include a mix of national and regional retailers across apparel, footwear, home goods, dining and other consumer categories.

The company’s primary business activities include leasing retail space, managing shopping-center operations and maintaining tenant relationships. Tanger’s portfolio serves shoppers in the United States and Canada, with properties generally located near major metropolitan areas, tourist destinations and high-traffic travel corridors.

Founded in 1981 by Stanley K.