Analysts Set Tanger Inc. (NYSE:SKT) Target Price at $39.70

Shares of Tanger Inc. (NYSE:SKT) have received an average rating of “Hold” from the ten analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $39.70.

Several equities analysts recently issued reports on SKT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research report on Friday, July 17th. Bank of America reissued an “underperform” rating and issued a $38.00 target price on shares of Tanger in a report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Tanger from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. LADENBURG THALM/SH SH increased their price objective on Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Finally, BMO Capital Markets lifted their price objective on Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Monday, June 15th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Tanger by 7.7% in the second quarter. BlackRock Inc. now owns 22,211,493 shares of the real estate investment trust’s stock worth $876,688,000 after acquiring an additional 1,582,006 shares during the period. Freestone Grove Partners LP lifted its holdings in Tanger by 6,634.5% in the fourth quarter. Freestone Grove Partners LP now owns 1,184,674 shares of the real estate investment trust’s stock valued at $39,533,000 after acquiring an additional 1,167,083 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in Tanger by 2,190.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 832,777 shares of the real estate investment trust’s stock worth $28,181,000 after purchasing an additional 796,411 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Tanger by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock valued at $598,979,000 after purchasing an additional 789,935 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Tanger during the 4th quarter valued at about $25,364,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Stock Down 0.0%

NYSE:SKT opened at $39.31 on Friday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 3.36 and a current ratio of 2.12. The firm has a market cap of $4.52 billion, a P/E ratio of 35.74, a P/E/G ratio of 2.01 and a beta of 1.10. Tanger has a fifty-two week low of $31.13 and a fifty-two week high of $42.53. The firm has a 50-day simple moving average of $39.81 and a two-hundred day simple moving average of $36.81.

Tanger (NYSE:SKT) last issued its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The firm had revenue of $156.39 million for the quarter, compared to the consensus estimate of $142.58 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Analysts predict that Tanger will post 2.48 earnings per share for the current fiscal year.

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, July 31st. Tanger’s dividend payout ratio (DPR) is presently 113.64%.

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.