Tanger Inc. (NYSE:SKT) Receives $40.40 Average Target Price from Analysts

Tanger Inc. (NYSE:SKT) has received an average rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $40.40.

SKT has been the topic of several research analyst reports. Evercore set a $39.00 price objective on Tanger in a research report on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research report on Friday, July 17th. BMO Capital Markets boosted their target price on shares of Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Monday, June 15th. Scotiabank upped their price target on shares of Tanger from $37.00 to $41.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Finally, UBS Group set a $41.00 price target on shares of Tanger in a research note on Thursday, June 18th.

Institutional Trading of Tanger

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted 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 valued at $876,688,000 after purchasing an additional 1,582,006 shares during the period. Vanguard Group Inc. increased its holdings in 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 worth $598,979,000 after purchasing an additional 789,935 shares during the period. State Street Corp increased its holdings in Tanger by 3.4% during the 2nd quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock worth $202,924,000 after purchasing an additional 215,174 shares during the period. California State Teachers Retirement System raised its position in Tanger by 3,333.9% during the 2nd quarter. California State Teachers Retirement System now owns 5,183,161 shares of the real estate investment trust’s stock valued at $204,579,000 after purchasing an additional 5,032,220 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Tanger by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,879,693 shares of the real estate investment trust’s stock valued at $96,111,000 after purchasing an additional 27,201 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Tanger Stock Up 0.2%

Shares of NYSE SKT opened at $37.73 on Wednesday. Tanger has a 1 year low of $31.13 and a 1 year high of $42.53. The firm has a 50-day simple moving average of $39.82 and a two-hundred day simple moving average of $37.39. The company has a market cap of $4.33 billion, a P/E ratio of 34.30, a PEG ratio of 1.84 and a beta of 1.10. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.12 and a quick ratio of 2.12.

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

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, July 31st. Tanger’s dividend payout ratio is currently 113.64%.

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.