Tanger (NYSE:SKT) Reaches New 52-Week High – What’s Next?

Tanger Inc. (NYSE:SKT) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $37.13 and last traded at $37.19, with a volume of 286779 shares changing hands. The stock had previously closed at $35.56.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Scotiabank upped their price target on shares of Tanger from $33.00 to $34.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. LADENBURG THALM/SH SH upgraded Tanger to a “strong-buy” rating in a research note on Thursday, November 20th. Barclays reaffirmed a “positive” rating and issued a $36.00 price objective on shares of Tanger in a report on Tuesday, January 13th. Citigroup restated a “neutral” rating and issued a $35.00 price target (down from $38.00) on shares of Tanger in a research report on Wednesday, November 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Tanger Trading Up 4.9%

The firm has a 50-day moving average price of $33.72 and a 200-day moving average price of $33.46. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $4.29 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 1.57 and a beta of 1.18.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.30). The company had revenue of $150.95 million during the quarter, compared to the consensus estimate of $143.42 million. Tanger had a return on equity of 15.75% and a net margin of 19.15%.The business’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. Tanger has set its FY 2026 guidance at 2.410-2.490 EPS. As a group, equities analysts forecast that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $0.2925 dividend. The ex-dividend date was Friday, January 30th. This represents a $1.17 annualized dividend and a yield of 3.1%. Tanger’s dividend payout ratio is presently 124.47%.

Institutional Trading of Tanger

Several hedge funds have recently made changes to their positions in SKT. Salomon & Ludwin LLC purchased a new position in shares of Tanger during the 3rd quarter valued at $26,000. EverSource Wealth Advisors LLC grew its holdings in Tanger by 127.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 531 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Tanger during the 3rd quarter valued at $33,000. City Holding Co. bought a new stake in Tanger during the 3rd quarter valued at $34,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Tanger in the 4th quarter valued at $34,000. 85.23% of the stock is currently owned by institutional investors.

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.