Tanger Inc. (NYSE:SKT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Tanger Inc. (NYSE:SKTGet Free Report) have been assigned an average rating of “Hold” from the eight analysts that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $36.00.

SKT has been the topic of a number of analyst reports. BMO Capital Markets initiated coverage on shares of Tanger in a research note on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price objective on the stock. Citigroup increased their price objective on shares of Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 target price for the company. Bank of America raised shares of Tanger from a “neutral” rating to a “buy” rating and increased their target price for the stock from $35.00 to $40.00 in a report on Monday, November 11th. Finally, Compass Point increased their target price on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, October 25th.

Get Our Latest Analysis on Tanger

Tanger Trading Down 0.2 %

Shares of Tanger stock opened at $35.88 on Friday. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 41.24, a PEG ratio of 2.87 and a beta of 1.91. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.40. Tanger has a 12-month low of $25.94 and a 12-month high of $37.57. The firm’s 50-day moving average price is $33.77 and its two-hundred day moving average price is $33.23.

Tanger (NYSE:SKTGet Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $132.17 million for the quarter, compared to the consensus estimate of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.82%. On average, analysts forecast that Tanger will post 2.23 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.275 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.07%. Tanger’s dividend payout ratio (DPR) is presently 126.44%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC raised its holdings in Tanger by 55.3% in the 3rd quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust’s stock valued at $2,393,000 after buying an additional 25,683 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Tanger by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust’s stock valued at $65,210,000 after buying an additional 21,793 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Tanger by 4.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 163,420 shares of the real estate investment trust’s stock valued at $5,560,000 after buying an additional 7,647 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Tanger by 13.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,549 shares of the real estate investment trust’s stock valued at $10,536,000 after buying an additional 38,036 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Tanger by 5.2% in the 3rd quarter. Fisher Asset Management LLC now owns 503,053 shares of the real estate investment trust’s stock valued at $16,691,000 after buying an additional 25,014 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

About Tanger

(Get Free Report

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.

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Analyst Recommendations for Tanger (NYSE:SKT)

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