Tanger Inc. (NYSE:SKT) Receives Average Recommendation of “Hold” from Brokerages

Tanger Inc. (NYSE:SKT) has been assigned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $39.50.

SKT has been the topic of several research reports. LADENBURG THALM/SH SH increased 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. Evercore set a $37.00 target price on Tanger in a report on Friday, May 1st. Bank of America reissued an “underperform” rating and set a $38.00 price target on shares of Tanger in a research report on Tuesday, June 16th. Scotiabank upped their price objective on Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Monday, April 20th.

Tanger Price Performance

Tanger stock traded up $0.73 during trading hours on Tuesday, hitting $40.09. The stock had a trading volume of 101,202 shares, compared to its average volume of 988,987. Tanger has a 1-year low of $29.24 and a 1-year high of $41.50. The stock has a market capitalization 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 stock’s fifty day moving average is $37.59 and its two-hundred day moving average is $35.67. 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 released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 EPS 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 business had revenue of $150.42 million during the quarter, compared to analysts’ expectations of $142.94 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Tanger’s quarterly revenue was up 11.1% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. As a group, analysts predict that Tanger will post 2.48 earnings per share for the current fiscal year.

Tanger Increases Dividend

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

Hedge Funds Weigh In On Tanger

A number of institutional investors have recently modified their holdings of SKT. SHP Wealth Management purchased a new stake in Tanger in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of Tanger by 127.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 531 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Tanger by 43.2% during the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 293 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Tanger during the third quarter worth $33,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Tanger in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

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.